Flair Airlines is in talks to merge with ex-Boeing CEO’s SPAC

Flair Airlines, a low-cost Canadian airline, is in talks to go public through a merger with New Vista Acquisition Corp., a blank check-firm backed by a former Boeing CEO, according to people with knowledge of the matter. New Vista may seek to raise additional financing to support a transaction, said one of the people, all of whom requested anonymity in order to discuss private information. The special purpose acquisition company is led by Dennis Muilenburg, Boeing’s CEO from 2015 to 2019. A deal hasn’t been finalized and it’s possible talks could collapse. Spokespeople for New Vista and Flair declined to comment. New Vista raised $276m in a February 2021 initial public offering, saying that it planned to find a target in the space, defense and communications sector or the advanced air mobility and logistics industries. Canada doesn’t allow foreign investors to control airlines. Flair, which received financing from 777 Partners LLC, was forced to overhaul its structure to lessen the influence of the Miami-based investment firm. Canada’s transport agency ruled in June that Flair does meet domestic ownership requirements, allowing it to continue operating flights. <br/>