Bonza’s sister airline cuts 777 Partners, restructures debt

Canadian low-cost carrier Flair Airlines has moved to quell speculation about its future after its Australian sister airline Bonza entered voluntary administration, saying its backers will take shares owned by 777.

In an announcement on Thursday, the Canadian airline said “an affiliate of Flair’s largest senior lender is acquiring a portion of the shares owned by 777 Partners and providing new non-binding debt funding”.