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MD2

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MD2 last won the day on April 14 2018

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  1. https://biv.com/article/2021/07/lawsuit-week-shareholder-takes-aim-airlines-expansion-plan “A shareholder in Flair Airlines Ltd. is taking the low-cost carrier to court, claiming it’s wrongfully withholding key information about a significant expansion of the company’s fleet of aircraft announced in the midst of the COVID-19 pandemic. Prescott Strategic Investments LP by its general partner Prescott Strategic Investments Ltd. filed a petition in BC Supreme Court on June 18, naming Flair and Florida-based 777 Partners LLC, a “significant creditor” of the aviation firm, as respondents. Prescott, run by Canadian aviation industry veterans Jim Scott and Jerry Presley, claims in the court filing that the dispute was spurred by Flair’s management deciding to “aggressively expand its operations during a global pandemic” by signing leases on 13 new Boeing 737-8 airplanes with a subsidiary controlled by 777 Partners, also a Flair shareholder.” The details are ordered sealed, but it was also revealed at the time that Flair owed 777 about 140 millions at 18% interest…
  2. Oh make no mistakes, the opposition to Flair’s advantage is from all Canadian carriers, especially Air Canada, the biggest member. And the CTA has already made the preliminary ruling. A little research reveals that Flair seems to have had a falling out with its (only?) Canadian investor who is suing it now, and as a result it has delved deeper into its relationship with 777. It basically is the only major stakeholder in the company, at the moment provides most of its aircraft, and clearly controls it. Flair is asking for 18 months hoping to find a replacing investor. Jetlines searched for many years. They may never come! The argument may be coming from its competitors, but it doesn’t make it less true. Flair’s own actions and statements seem to indicate that it has knowingly been in breach of foreign ownership and controls laws.
  3. This part in the Globe article about sums it up: ”….Other than its deliberate violation of the law, there is simply nothing unique about Flair,” WestJet said. “If Flair’s licence were suspended or cancelled, other Canadian airlines – that respect the legislative requirements for holding domestic licences – will fill the gap and provide comparable competition, local service and jobs.”
  4. One would think, at some point. Why wouldn’t they, as a way of “unlocking” the value of their investment.
  5. If I were ferrying my company’s first airplane into the country, I’d know there’d be historical pictures to be taken and I’d want to be in my Sunday’s best!
  6. CTA has launched a formal probe into Flair’s foreign ownership and control. https://www.theglobeandmail.com/business/article-federal-regulator-launches-formal-probe-into-flair-airlines-compliance/ Level of investment and control between Lynx Air and Indigo, as well Jetlines and SmartLynx would be interesting.
  7. Private shares. Which will be converted to common shares at the next IPO.
  8. Sunwing’s seasonality will cease as it will use Canadian registered aircraft in the winter and the summer EU flying will stop since it was based on reciprocity. Considering Sunwing’s winter fleet is around 45, I will look for language in their next contract to expand Swoop well beyond 30, considering it will have 16 this summer. It won’t be surprising to see language for WD as well. it is a smart move that they have included Sunwing’s loan will be paid in full upon completion, more incentive for cash strapped feds to expedite the process. it seems a good match.
  9. Porter would have bought the C series aircraft when it was still fully Canadian and showcased its urban capabilities years ago had it not been for the unilateral decision of liberals to end a transparent and democratic process that was underway. That would have likely made a substantial difference for the program and sustained it as a Canadian enterprise. In this new environment, it makes more economical sense to go with the E series, especially since they will not be flying from city airport. If a new federal government is supportive of the original Porter plans, they may be resurrected.
  10. Jazz, AC, and above all ALPA! ?
  11. In spite of the usual whitewash from some AC crowd, this is a legitimate concern about how the federal government is going to balance regulating the industry against making a profit on its investment. It is mind boggling that the liberals not only have failed Canadians on every level in handling the pandemic, but they also stubbornly refuse to support the industry as a whole like other developed countries. This stems from their socialist agenda to appear different from other “capitalist” (read Trump administration) countries and their usual pursuit of favouritism. Public or private, an airline is affected the same from the government’s inane and arbitrary interference and as such must be compensated by the entity which restricts it from conducting business. Some seem to think that it is ok for private companies to continually pay for the government’s mismanagement on the account that they may appear “rich” to them! What a communist perspective!
  12. Due to lack of action and support from Justin and his liberal government, Canadian carriers have already lost 24% of international market share to foreign carriers and will likely lose more since U.S market has rebounded to nearly 50% of 2019 capacity and EU to over 35% while Canada languishes below 10%.
  13. In other words people, pardon me “peoplekind” would vote the same way while expecting different results?!! The more pertinent question is would Canadians want to have the liberals continue in office in light of their performance during the pandemic, more specifically managing the economy, vaccine acquisition, specific aid for industries most affected such as aviation? It is quite peculiar that instead of an industry-wide aid package, the federal government has chosen an airline specific aid which makes it one of the largest shareholders in its previous crown corporation again! That makes fair regulation of the industry even more challenging.
  14. Curious why you think that, even if somehow there is another miracle for Justin!
  15. And often a certain group portrays consequences of its actions not as such, rather as discrimination, which given the realities of the world is quite ironic! WestJet was right on the money to remove him and more so to ban him just as they forewarned the travelling public, let alone people on employee passes who are supposed to be very discrete and helpful to the crew! The more he goes on the more embarrassing for him and the poor soul that gave him the pass! Now all of a sudden he is "stranded"!! Pay for a ticket like everyone else and get on with life Mr. cheap!
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