Canadian discount carrier Flair Airlines is reportedly in talks to go public through a merger with
New Vista Acquisition Corp. (NVSA), a special purpose acquisition company (SPAC) led by
former Boeing (BA) chief executive officer Dennis Muilenburg.
New Vista raised $276 million U.S. in a February 2021 initial public offering (IPO), saying that it
planned to find a target in the aviation industry.
Edmonton, Alberta-based Flair Airlines offers cheap flights on domestic routes across Canada
and to a select number of international destinations such as San Francisco, Las Vegas and
Cancun, Mexico.
Muilenburg was Boeing’s CEO from 2015 to late 2019 but was ousted following the fatal
crashes of two 737 Max aircrafts.
The SPAC market that sees companies go public via reverse mergers has dried up this year as
ongoing stock market volatility has led many companies to put off listing shares on a stock
exchange.
New Vista’s stock has risen 2% since going public in January of this year at $9.98 U.S. per
share. Boeing’s stock is down 32% on the year at $142.05 U.S. a share.
