The CEO of Flair Airlines says the company is committed to “serving the needs of Canadian travellers” amid news that the company cut hundreds of flights in Canada this spring.
Data provided to CTV News by Cirium, an aviation analytics company, confirms that there are about 600 fewer flights on the airline’s schedule in March, April, and May compared to the same months in 2023, representing a reduction of about eight per cent.
Flair CEO Stephen Jones said the cuts, which were first reported by The Globe and Mail, were not made in response to the closure of low-cost airline Lynx Air last month, adding that the schedule for March, April, and May was published back in August.
“There have been no significant adjustments to our flight schedule,” Jones said in a statement released Friday. “Flair has not made any reductions to its schedule following the closure of Lynx Air.”
He went on to say that the Edmonton-based airline flies where “customer want to travel,” indicating that there has been a “resurgence in demand” for warm-weather destinations such as Mexico, Florida, and the Caribbean.
“Compared to last year, when we flew a predominantly domestic network, Flair Airlines has significantly increased its presence in these markets and opened over 20 new winter sun routes,” the statement continued.
While the overall number of flights is down, he suggested that capacity is actually up.
“Overall capacity, as measured by the industry-standard metric Available Seat Miles (ASM), is up by four per cent compared to the same March to May period last year,” Jones said.
“Over 70% of ASMs this past winter season were deployed to warm-weather destinations. These routes are typically longer than domestic routes, so we are operating further but slightly fewer flights.”
He said the “focus on winter sun markets” has been “tremendously popular” with Flair customers and high demand is expected in the upcoming months.
The CEO also dismissed any suggestion that the flight reductions were a result of the company’s financial struggles.
Earlier this year, court documents obtained by The Canadian Press revealed that Flair Airlines owes about $67.2 million in unpaid taxes.
At that time, Jones said the company had reached a deal with the Canada Revenue Agency to pay the taxes.
In his statement Friday, Jones said the skepticism surrounding Ultra-Low-Cost Carriers (ULCCs) in Canada is “misplaced.”
“I want to assure all Canadians that Flair Airlines is steadfast in our confidence that the ULCC model has potential to thrive in Canada. We are here to stay, resilient and determined to continue serving the needs of Canadian travellers,” Jones added.
“With the closure of Lynx Air, the significance of Flair Airlines in the market has become even more pronounced. We embrace and recognize the responsibility that comes with being the only ULCC in Canada and remain committed to providing Canadians with affordable airfare.”
TORONTO – Canada Goose Holdings Inc. says it has signed a deal that will result in the creation of its first eyewear collection.
The deal announced on Thursday by the Toronto-based luxury apparel company comes in the form of an exclusive, long-term global licensing agreement with Marchon Eyewear Inc.
The terms and value of the agreement were not disclosed, but Marchon produces eyewear for brands including Lacoste, Nike, Calvin Klein, Ferragamo, Longchamp and Zeiss.
Marchon plans to roll out both sunglasses and optical wear under the Canada Goose name next spring, starting in North America.
Canada Goose says the eyewear will be sold through optical retailers, department stores, Canada Goose shops and its website.
Canada Goose CEO Dani Reiss told The Canadian Press in August that he envisioned his company eventually expanding into eyewear and luggage.
This report by The Canadian Press was first published Sept. 19, 2024.
Almost seven years since news broke of an alleged conspiracy to fix the price of packaged bread across Canada, the saga isn’t over: the Competition Bureau continues to investigate the companies that may have been involved, and two class-action lawsuits continue to work their way through the courts.
Here’s a timeline of key events in the bread price-fixing case.
Oct. 31, 2017: The Competition Bureau says it’s investigating allegations of bread price-fixing and that it was granted search warrants in the case. Several grocers confirm they are co-operating in the probe.
Dec. 19, 2017: Loblaw and George Weston say they participated in an “industry-wide price-fixing arrangement” to raise the price of packaged bread. The companies say they have been co-operating in the Competition Bureau’s investigation since March 2015, when they self-reported to the bureau upon discovering anti-competitive behaviour, and are receiving immunity from prosecution. They announce they are offering $25 gift cards to customers amid the ongoing investigation into alleged bread price-fixing.
Jan. 31, 2018: In court documents, the Competition Bureau says at least $1.50 was added to the price of a loaf of bread between about 2001 and 2016.
Dec. 20, 2019: A class-action lawsuit in a Quebec court against multiple grocers and food companies is certified against a number of companies allegedly involved in bread price-fixing, including Loblaw, George Weston, Metro, Sobeys, Walmart Canada, Canada Bread and Giant Tiger (which have all denied involvement, except for Loblaw and George Weston, which later settled with the plaintiffs).
Dec. 31, 2021: A class-action lawsuit in an Ontario court covering all Canadian residents except those in Quebec who bought packaged bread from a company named in the suit is certified against roughly the same group of companies.
June 21, 2023: Bakery giant Canada Bread Co. is fined $50 million after pleading guilty to four counts of price-fixing under the Competition Act as part of the Competition Bureau’s ongoing investigation.
Oct. 25 2023: Canada Bread files a statement of defence in the Ontario class action denying participating in the alleged conspiracy and saying any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods, which is not a defendant in the case (neither is its current owner Grupo Bimbo). Maple Leaf calls Canada Bread’s accusations “baseless.”
Dec. 20, 2023: Metro files new documents in the Ontario class action accusing Loblaw and its parent company George Weston of conspiring to implicate it in the alleged scheme, denying involvement. Sobeys has made a similar claim. The two companies deny the allegations.
July 25, 2024: Loblaw and George Weston say they agreed to pay a combined $500 million to settle both the Ontario and Quebec class-action lawsuits. Loblaw’s share of the settlement includes a $96-million credit for the gift cards it gave out years earlier.
Sept. 12, 2024: Canada Bread files new documents in Ontario court as part of the class action, claiming Maple Leaf used it as a “shield” to avoid liability in the alleged scheme. Maple Leaf was a majority shareholder of Canada Bread until 2014, and the company claims it’s liable for any price-fixing activity. Maple Leaf refutes the claims.
This report by The Canadian Press was first published Sept. 19, 2024.
Companies in this story: (TSX:L, TSX:MFI, TSX:MRU, TSX:EMP.A, TSX:WN)
TORONTO – TD Bank Group, which is mired in a money laundering scandal in the U.S., says chief executive Bharat Masrani will retire next year.
Masrani, who will retire officially on April 10, 2025, says the bank’s, “anti-money laundering challenges,” took place on his watch and he takes full responsibility.
The bank named Raymond Chun, TD’s group head, Canadian personal banking, as his successor.
As part of a transition plan, Chun will become chief operating officer on Nov. 1 before taking over the top job when Masrani steps down at the bank’s annual meeting next year.
TD also announced that Riaz Ahmed, group head, wholesale banking and president and CEO of TD Securities, will retire at the end of January 2025.
TD has taken billions in charges related to ongoing U.S. investigations into the failure of its anti-money laundering program.
This report by The Canadian Press was first published Sept. 19, 2024.
