MIAMI – Miami-based investment firm 777 Partners announced an order for 24 Boeing 737 MAX 8s with options for a further 60 aircraft.
The new aircraft will be leased and operated by Flair Airlines (F8), partially owned by 777 Partners, and other affiliates of the investment firm. The firm specializes in various aspects of the aviation industry, including aircraft leasing, passenger connectivity, and inventory and systems management.
This deal is another marker of recent good news for Boeing, as orders once again begin to be filled as countries around the world unground the 737 MAX.
Since December, we have seen Alaska Airlines (AS) grow their order MAXs to 120, while United Airlines ordered an additional 25 MAXs scheduled for delivery in 2023.
A Flair for Growth
Flair Airlines, an ultra low cost carrier in Canada, plans to operate an initial 13 Boeing 737 MAX 8s from 777 Partners.
The deal was originally announced in January, with aircraft scheduled to begin delivery this year. The airline has an ambitious goal to operate 50 aircraft within 5 years.
In order to do that, F8 will need to see exceptional growth as seen with other ultra low cost carriers in Europe.
At the time of the announcement, Stephen Jones, President & CEO of Flair, stated, “Our efficient new aircraft will provide us the foundation to execute our ULCC business model. These planes will enable us to keep fares low while expanding our service to meet travel demand.”
He continued, “As a ULCC, we have an extraordinary impact on the lives of Canadians and the communities in which they live by making travel across the country affordable and accessible.”
777 Partners’ Portfolio
Its portfolio includes Air Black Box, a company that ‘connects inventory and systems to drive passenger volume and revenue through network and ancillary channel expansion.’
Additionally, 777 Partners is an investor in the Value Alliance, an airline alliance of low cost carriers in the Asia Pacific region.
Members of the Value Alliance include Cebu Pacific (5J), Jeju Air (7C), Nok Air (DD), and Scoot (TR). The alliance has lost 3 members in the last three years, including NokScoot and Tigerair Australia (TT) after the airlines went defunct, and Vanilla Air (JW) after the airline merged into Peach Aviation (MM).
Lastly, 77 Partners owns World Ticket, a company that provides airlines with an online sales and distribution system, including Sell-More Seats, a program used by 55 airlines worldwide.
Joshua Wander, founder and managing partner of 777 Partners said, “The 737-8 aircraft are a fantastic addition to our aviation portfolio and will enable our partners to leverage the jets’ superior economic performance to deliver low fares for their passengers while reducing their carbon footprint,”
He continued, “The retrenchment of traditional carriers globally has created an unprecedented market opportunity for more agile and cost-efficient operators. These aircraft will enable our operators to accelerate the recovery in the destinations they serve. We are humbled to call one of America’s greatest manufacturers our partner in this endeavor.”
Featured Image: Nick Sheeder/Airways