Flair Airlines Selects Black Owl Systems for IFRS 16 Lease Accounting
Calgary, Alberta – June 8, 2026 – Black Owl Systems is pleased to announce that Flair Airlines has selected and gone live with Black Owl’s lease accounting software to support its IFRS 16 reporting requirements.
As Flair Airlines continues to grow and expand its fleet, the company recognized the need for a lease accounting solution that could support the complexity of its operations, provide reliable IFRS 16 reporting, and scale with the business.
Black Owl was selected for its ability to understand the unique accounting requirements of Flair’s lease portfolio and deliver a solution designed for the ongoing realities of lease accounting for the airline industry, including complex lease structures, reporting requirements, and audit support.
“Flair Airlines needed a lease accounting solution that could support both the complexity of IFRS 16 and the operational needs of a growing airline” said Greg Kautz, CEO and Co-Founder of Black Owl Systems. “We are proud to support Flair with a system that provides strong accounting functionality, accurate reporting, and a process built for finance teams that need confidence in their lease accounting every month.”
“Black Owl took the time to understand the nuances of our lease accounting requirements and the realities of our business,” said Sumanth Rao, CFO. “Their team delivered a solution that supports our IFRS 16 reporting needs and gives us a more structured process for managing lease accounting going forward.”
“For an airline, aircraft leases are one of the most significant and complex areas of accounting,” said Naveed Kamran, Assistant Controller. “Black Owl has strengthened our lease accounting framework, improved accuracy, and enhanced transparency across our financial reporting while maintaining full compliance and audit readiness.”
Black Owl’s lease accounting platform supports organizations managing complex lease portfolios under IFRS 16, ASC 842, and ASPE 3065. The system is designed to help finance teams reduce spreadsheet dependency, manage lease changes, generate journal entries, produce disclosure reports, and maintain audit-ready records.
About Black Owl Systems
Black Owl Systems provides lease accounting software built by accountants for accountants. The platform supports lessee and lessor accounting under IFRS 16, ASC 842, and ASPE 3065, helping organizations manage complex lease portfolios, streamline reporting, and reduce manual work. Black Owl is headquartered in Calgary, Alberta, and serves clients across North America, including large public companies and global enterprises.
Media Contact
For media inquiries, please contact greg.kautz@blackowlsystems.com
About Flair Airlines
Flair Airlines is Canada’s most reliable and greenest airline, on a mission to make air travel affordable and accessible for everyone. With a growing fleet of Boeing 737 aircraft, Flair connects 25 cities across Canada, the U.S., Mexico, the Dominican Republic, and Jamaica. For more information visit www.flyflair.com
Media Contact
For media inquiries, please contact media@flyflair.com
