texasbruce wrote: ↑ I don't get how being "Canadian" enough is an issue here. Not much around us is Canadian anyway, including Timmys
Flair Airlines operating license became under investigation due to 777 Partners investmenttexasbruce wrote: ↑ I don’t know how tax is different. Foreign companies operating in Canada need to pay corporate income tax and collect HST like domestic ones.
"777 Partners’ involvement with Flair is the main reason the CTA has started looking into carrier's business practices. 777 Partners is a Miami-based investment firm/wet leasing company that owns a 25% stake in Flair Airlines. In addition, 777 Partners leases several aircraft to the airline and occupies three of the five seats on its board."
Ownership Drama Explained: What’s Going On At Canada’s Flair Airlines?
A summary of all recent events relating to Flair Airlines’ CTA investigation.
https://simpleflying.com/flair-airlines ... explained/
In its preliminary determination released in March, the CTA suggested that Flair’s dependence on 777 for financing was a strong indication that the airline was controlled by the investment firm. CTA wrote: “777’s influence over Flair may be dominant and that it, therefore, could be considered to have control in fact of Flair.”
https://financialpost.com/transportatio ... til-june-1
Flair had submitted a response to the Canadian Transportation Agency’s (CTA) initial finding that Flair had failed to meet requirements for Canadian ownership of a domestic airline under the Transportation Act.
The Agency is in the process of reviewing it and will issue its determination on June 1st, 2022.
The changes Flair made include expanding the board from five to nine members, ensuring seven of them are Canadian, cutting the number of directors 777 Partners can appoint from three to two, and abolishing the US investor’s veto rights, which it had “never exercised” in any case.
Canada’s Flair Airlines rejigs structure amid ownership row
https://www.ch-aviation.com/portal/news ... ership-row
Destiny is all