We apologize, but this video has failed to load.“The leasing of the four Airborne-managed aircraft was terminated following a five-month long period, during which Flair was regularly in default of its leases by failing to meet its payments when due, with payment arrears reaching millions of dollars,” Airborne Capital said.“Terminating an aircraft lease is always a last resort, and such a decision is never taken lightly.
Jones has also expressed doubt about retrieving the aircraft, saying Monday that “it would be a tough road to see back down — this sort of precipitous hedge-fund behaviour makes negotiations tough.” The abrupt seizures and subsequent accusations hint at the fierce competition playing out across the Canadian aviation industry as demand for air travel soars.