Flair Airlines chief executive Stephen Jones will be stepping down this summer after nearly four years at the helm of the discount carrier.
The CEO's tenure spanned a turbulent period for the seven-year-old company as the airline expanded its fleet but also hit financial headwinds amid stiff competition.
In a phone interview from Toronto, Jones said he felt ready to retire and faced"no pressure to move on." Flair was reduced to one active plane by April 2021 as it scrapped nearly all its routes amid the ongoing pandemic. The chief executive vastly expanded its stock of leased planes within a couple years, but has also encountered his share of obstacles.
Earlier this year, Jones suspended expansion plans as the carrier contended with plane delivery delays and hefty debts, including $67 million in unpaid federal taxes related to import duties on its jets as of November. The payment plan remains"on track," he said Tuesday.He pointed to the carrier's 98-per-cent flight completion rate — the proportion of flights not cancelled or diverted — and second-best on-time performance record among major Canadian airlines last year.
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