The fierce competition and high demand playing out across the Canadian air travel industry bubbled to the surface over the weekend when four Flair Airlines planes were abruptly seized over lease payments.

The Boeing 737 Maxes were grounded Saturday after a 91裸聊视频渃ommercial dispute91裸聊视频� with New York-based Airborne Capital Inc., Flair said.

A person familiar with the matter but who was not authorized to speak publicly about it said the payments for the affected planes were a few days behind and the amount owed was small relative to Flair91裸聊视频檚 overall revenue.

Flair has since 91裸聊视频渋nitiated91裸聊视频� lease payments, the airline said, calling the seizures 91裸聊视频渦nprecedented 91裸聊视频� extreme and unusual.91裸聊视频�

Leasing prices have skyrocketed since the COVID-19 pandemic due to surging travel demand, even as domestic airfares have dropped amid a crop of new carriers and expansions at others, said John Gradek, head of McGill University91裸聊视频檚 aviation management program.

As a result, the 91裸聊视频渟lightest sneeze91裸聊视频� in a payment plan could trigger termination of an older lower-price lease, allowing the lessor to find a new client willing to pay more per month for the pricey planes, he said.

91裸聊视频淚f you screw up your payment with the lessor, they will take the first opportunity to seize the airplane, bring it back and then remarket it at a much higher level of revenue than you would normally get with Flair.91裸聊视频�

Gradek said 737 Max 8s can now cost lessees up to $450,000 per month versus about $150,000 in 2021. A delayed payment may also tarnish Flair91裸聊视频檚 credit and reputation, making future leases even costlier, he added.

The sudden seizure of more than one-fifth of its fleet saw Flair scramble to roll out other planes over the weekend, as passengers in Toronto, Edmonton and Waterloo, Ont., dealt with last-minute flight cancellations.

Canadians still reeling from memories of pandemic confinement have been eager to board flights this year 91裸聊视频� putting planes in even higher demand from airlines and leasing companies.

The number of scheduled flights by Air Canada and WestJet jumped 31 per cent to 47,362 this month from 36,062 in the same period a year earlier, according to flight data firm Cirium.

Domestic ticket prices have dropped 15 per cent from 2019 amid heightened airline competition 91裸聊视频� six carriers now ply the Toronto-Vancouver route versus two a few years ago 91裸聊视频� leaving carriers with thinner profit margins as they battle for control of the skies, according to Montreal-based travel data firm Hopper Inc.

Flair spokesman Mike Arnot said a number of Flair flights were cancelled Saturday morning, but the company had three spare aircraft to backfill those flights.

Passengers travelling in the subsequent 72 hours will either be accommodated on Flair flights or on another airline at the company91裸聊视频檚 expense if a Flair flight isn91裸聊视频檛 available, he said.

An update from the company later on Saturday added that customers can also rebook their own travel and receive a reimbursement within seven days.

91裸聊视频擟hristopher Reynolds, The Canadian Press