Edmonton-headquartered discount carrier Flair Airlines under preliminary investigation by the Canadian Transportation Agency

Flair Airlines wants to bring low-cost airfares to Canadian cities, but despite strong demand, the Edmonton-based carrier could lose its license this May. At issue is the role of the investment firm 777 Partners LLC. The Miami-based company owns a 25 per cent stake in Flair, leases aircraft to it, and controls its board of directors. The control they exert is the reason that Flair is facing preliminary investigation by the Canadian Transportation Agency (CTA), Prof. Karl Moore told the Financial Post. To some degree, the company is being run to out of Florida, rather than from Canada, as is required by the Transportation Act.