Flair missed 'millions' in payments on seized planes, leasing company says
BNN Bloomberg
The leasing company that seized four planes from Flair Airlines over the weekend said Tuesday the carrier routinely missed payments over the past five months.
Flair found itself down by more than a fifth of its fleet after the Boeing 737 Maxes were confiscated by Airborne Capital Inc. on Saturday, forcing the airline to cancel multiple flights.
Flair has deemed the actions "extreme and unusual," with CEO Stephen Jones telling reporters Monday the company is now 100 per cent caught up on its leases after being "a few days in arrears" with about $1 million owing on the jetliners.
Jones also claimed the seizure was the result of another carrier's attempt to undermine Flair following "behind the scenes" negotiations between a major Canadian airline and Airborne Capital.
Jay Allen is a fan of U.S. President Donald Trump, and voted for him on the belief that the Republican would cut taxes and trim regulations, helping his manufacturing business in northeast Arkansas.
Shares advanced Wednesday in Europe and Asia as oil prices fell back slightly despite a barrage of attacks by Iran on its Gulf neighbours.
Every year, billions of dollars in tax credits and benefits go unclaimed in Canada. Here are five commonly missed tax
Oil prices resumed their rise on Tuesday because of the war with Iran, but U.S. stocks held steadier this time around.
Oil prices above $100 add pressure on inflation and growth, complicating rate decisions for central banks.
Closing arguments are set to kick off Tuesday in a trial pitting Elon Musk against Twitter shareholders who say the world’s richest man engaged in a pattern of deceptive behavior that misled investors as he attempted to back out of his US$44-billion deal to buy the social media platform in 2022.
Markets in Canada and the U.S. were up in late-morning trading on Tuesday despite the ongoing war in Iran.
St. Patrick’s Day will test restaurant bar sales as Canadians drink less, with declining consumption and shifting habits weighing on industry revenues.
New York Stock Exchange-parent Intercontinental Exchange said on Tuesday it has launched a product to bring greater transparency to the private credit market, an asset class beleaguered by heightened investor concerns.
Oil tankers are crossing the Strait of Hormuz and Iran’s actions to choke traffic through the shipping route have not hurt the U.S. economy, White House economic adviser Kevin Hassett told CNBC on Tuesday, reiterating the Trump administration’s position that the war should be over in weeks, not months.
Canada’s annual inflation rate slowed in February to 1.8 per cent, but many economists believe the new Statistics Canada data may be the dip before a spike driven by oil prices and the war in Iran.
Building or rebalancing your portfolio and wondering what investments to consider next? Here’s what leading experts featured on BNN Bloomberg say investors should consider adding and dropping from their portfolios today.
Canadian and U.S. stock markets gained ground on Wednesday as oil prices fell and tech stocks rose on both sides of the border.