777 Partners acquired a 25% stake in Flair Airlines.

Miami-based investment firm 777 Partners acquired a 25% stake in Flair Airlines, Canada’s only independent ultra low-cost carrier. Financial terms were not disclosed. “The aviation sector continues to be ripe for innovation and Flair is well-equipped to provide affordable airfare for Canada’s underserved market,” said Steve Pasko, Co-Founder and Managing Partner of 777 Partners. “Despite having a strong potential market for ULCCs, Canada lags behind the rest of the world in this space. Through this investment, we want to create a viable alternative for consumers in the region, who have faced a lack of air transportation choice until now.”