I understand the Flair debt is financed by 777, something like $500m+ has been reported across a few outlets.Depends if Flair can get a buyer to dilute what's remaining of 777's stake in the carrier. Flair have actively stated they are looking at divorcing 777.
Flair reportedly splits from 777 Partners as Bonza saga continues
777 Partners, which is believed to have held around 24 per cent of Flair, has seen its stake reduced to almost nothing, according to sources cited in the Australian Financial Review. The Miami-based venture capital firm is also a part owner of Bonza, which entered voluntary administration this week.australianaviation.com.au