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cmyden · 03-25-2024, 06:15 PM

Just a summary of the rumors currently circulating around Flair...

- Their website hasn't been accepting any new bookings since Friday afternoon.

- The rumor is that their payment processor (People's Trust) broke ties with them and Flair is looking for a new payment processor.

(The mainstream media has been reporting this as 'IT issues')

- This afternoon Flair started directing traffic from their own website to third party sites for booking (Expedia, CheapoAir), a highly unprecendented thing for an airline to do.

- Some are calling this the straw that breaks the camel's back for Flair. Others point out that Flair seemingly goes through a backbreaking event every quarter and somehow finds a way to survive.

- 777 Partners, the hedge fund that has a 25% ownership stake in Flair, are currently involved with trying to acquire Everton in the Premier League (they've reportedly been selling assets to raise the money to do so). 777's CFO resigned last month.

AM Best recently downgraded 777's credit rating to C- (In November they were downgraded from A- to B)

03-25-2024, 06:15 PM	#5280
cmyden Powerplay Quarterback Join Date: Nov 2007 Exp:	Just a summary of the rumors currently circulating around Flair... - Their website hasn't been accepting any new bookings since Friday afternoon. - The rumor is that their payment processor (People's Trust) broke ties with them and Flair is looking for a new payment processor. (The mainstream media has been reporting this as 'IT issues') - This afternoon Flair started directing traffic from their own website to third party sites for booking (Expedia, CheapoAir), a highly unprecendented thing for an airline to do. - Some are calling this the straw that breaks the camel's back for Flair. Others point out that Flair seemingly goes through a backbreaking event every quarter and somehow finds a way to survive. - 777 Partners, the hedge fund that has a 25% ownership stake in Flair, are currently involved with trying to acquire Everton in the Premier League (they've reportedly been selling assets to raise the money to do so). 777's CFO resigned last month. AM Best recently downgraded 777's credit rating to C- (In November they were downgraded from A- to B) __________________ Sign up for YYC Deals alerts if you want to be the first to know when I post a deal! Flight deals from other cities: Vancouver - Edmonton - Saskatoon - Regina - Winnipeg - Toronto - Montreal - Ottawa - Halifax Last edited by cmyden; 03-25-2024 at 06:19 PM.