Flair Airlines Leases New Boeing 737 MAX Aircraft with SMBC Aviation Capital

EDMONTON, AB, June 14, 2023 /CNW/ - Today, Flair Airlines, Canada's everyday low-fare airline, announced it has leased two new Boeing 737 MAX aircraft. The leases were facilitated by SMBC Aviation Capital, the world's second largest aircraft leasing company. These Canadian-registered aircraft will enter service and fly Flair's summer 2023 schedule, which has grown 35% year-over-year.

"Flair Airlines has demonstrated excellent operational performance and business metrics, coupled with professional management of aircraft assets that are in high demand," said Stephen Jones, CEO of Flair Airlines. "We are pleased to lease two more of these fuel efficient aircraft and thank SMBC Aviation Capital for their support in our mission to deliver the lowest fares on offer in Canada."

"We are pleased to deliver these two Boeing 737 MAX aircraft to Flair, expanding its fuel-efficient fleet and helping Flair to capitalise on the recovery that we are seeing in the sector," said Barry Flannery, Chief Commercial Officer, SMBC Aviation Capital. "These modern, fuel-efficient aircraft will allow Flair to provide even more value to their customers over the coming years and we look forward to many years of growth and successful partnership with Flair."

One aircraft was delivered to Flair Airlines on June 13 and a second aircraft will follow later this summer. The aircraft are delivered new to Flair Airlines from Boeing Commercial Airplanes.

Today's news follows Flair Airlines' recent announcements related to its operational performance. The airline has committed to releasing monthly operational performance metrics, including completion factor, on-time performance, load factor, passengers and emissions — a Canadian first. In May 2023, Flair Airlines demonstrated a 99.1% completion factor, on-time performance that leads the Canadian airline industry (82.1% of flights arrived within 15 minutes of the scheduled arrival time), coupled with a load factor of 90%. In May 2023, more than 436,000 passengers experienced Canada's leading ultra-low cost airline.

Based in the IFSC in Dublin Ireland, SMBC Aviation Capital is the second largest aircraft operating lease company globally by number of aircraft, with an owned, managed and committed fleet of just under 900 aircraft. The company focuses on the most technologically advanced, fuel efficient and narrowbody aircraft types, providing customers across the globe with the aircraft they need to successfully grow their businesses. Established in 2001, the company was acquired in 2012 by a consortium comprised of two of Japan's biggest companies SMFG and Sumitomo Corporation. For additional information, please visit SMBC Aviation Capital's website at www.smbc.aero

Flair Airlines is Canada's leading low-fare airline and its greenest airline, on a mission to provide affordable air travel that connects them to the people and experiences they love. With an expanding fleet of Boeing 737 aircraft, Flair is growing to serve over 35 cities across Canada, the U.S., and Mexico. For more information, please visit www.flyflair.com.

SOURCE Flair Airlines Ltd.