Nearly a year ago I wrote about 777 Partners, a Miami-based investment firm that has some suspicious investments in two airlines. Specifically, the company owns Australia’s Bonza Airlines and Canada’s Flair Airlines.
Continue reading: Airline Investor Accused Of Shell Game, Ponzi Scheme
Share your questions, experiences, and thoughts below.
Miami is a magnet for fraud and aggression. Just look at the way people drive, or frankly, behave in that city. I have no idea why you live there.
Meh-fast driving in Miami is necessary to transport all the gold up to that big refinery in Orlando. After all, we do have large deposits of gold down here. But panning for gold in our rivers doesn't work nearly as well as suitcasing for gold at our airports.
CBC Headline, January 29, 2024: "Flair Airlines owes $67 million in unpaid taxes as (Canada Revenue Agency) opens door to seize carrier's property".
It’s a matter of time when flair collapses. I figure by the start of summer at the latest. They have taken summer bookings. Then collapse with cash from future bookings.
As mentioned. CRA is owed taxes. They will get every penny plus interest.
I know you don't care much about the sports side of 777's nonsense but they are also trying to buy Everton Football club, a English soccer mainstay. So if your article makes its way to the fans, there will be a giant freak out
Good ol’ Ponzi scheme. Never gets old and always has new victims.
Long story story. I think you meant Long story short.
@Ben - Do you think Flair will go out of business soon?
I have a ticket booked with them in a couple of weeks. I was about to book unrefundable accomodation. I'll hold off on that for now (or book something refundable), but you think I should be worried about my flight operating?
There's a reason discretionary investors tend to assign a "possible fraud" discount to companies based in South Florida, Arizona, and Utah.
Glad I flew this airline before their eventual demise. Edmonton-Nashville which they don't even operate anymore
Ah another article bashing flair. All this author does is bashes flair with half baked stories. get this idiot off the internet
Too bad they didn’t have the integrity and corporate governance standards that Baltia (USGlobal ??) airlines has.
Terrible carrier with incompotent Leadership that seem to be running the business into the ground. Though interesting that 777 Partners is leasing the planes to the airline knowing full well that it isn't sustainable. Would be interested to see the ownership structure of 777.
You don’t think the owner of Flair being taken to court multiple times and the failure of another airline under its wing, Bonza, is worthy of an article?
That's 18 more MAX jets to be repossessed.
Is that UA or AA that I hear calling??
"Southwest on line one....."
Yes, definitely a real risk that the airline will stop operating soon, would not book something unless it's easy to cancel
What difference real journalists from amateurs is depth of research. What a bunch of nonsense. It is comical to see amount of anti-low cost airlines press in Canada. Journalists instead of doing research get excited about some headlines and repeat them.
WestJet started this when they realized their airline is no longer competitive and started Swoop which mission was to drive competition to the ground.
Of course low-cost business will never work in Canada that's why Costco , Wal-Mart are struggling and The Bay, Eaton's, Sears are doing better than ever. Customers don't want good deal. Customers want a drone salesman who will push a product on their throat for an inflated price. It's unacceptable that people can buy $250 ticket Toronto Vancouver. That ticket should be $800 because Air Canada says so. Competition makes me angry I would love to see only one large carrier. Choice is confusing, let's nationalize our airlines into one big one.
When you read a statement like" I can't imagine company is making money" you not only suspect this is bunch of garbage this is the proof. Well marijuana is legal and some will smoke too much before writing an article.
If you want respect then do some research. A lot of research.
If you don't want competition, there are newspapers in North Korea and Russia. Apply.
Uh oh, looks like the 777 goons found the blog
Please do us all a favor and sell Genoa CFC before you drag them down to Serie D along with the rest of your Ponzi scheme
“Shell game at best” lol these guys are based in Miami, it’s guaranteed to be worse
Hey W, just something to consider… When Lynx Airlines suddenly folded overnight, the only people who got their money back were the ones who purchase their tickets using a credit card with travel insurance that covered the loss.
Even the passengers who bought refundable tickets lost their money, because all the assets get frozen by the courts (and it never gets paid back to the passengers).
Just something to consider… When Lynx Airlines suddenly folded overnight, the only people who got their money back were the ones who purchase their tickets using a credit card with travel insurance that covered the loss.
Even the passengers who bought refundable tickets lost their money, because all the assets get frozen by the courts (and it never gets paid back to the passengers).
Uh, even CNN or FOX have lots of clickbait, even BBC has them.
The problem isn't journalists. The problem is the consumers. You're getting news from blogs and TikTok, you shouldn't but you do. So journalists have to cater to you to make a living.