Defunct Canadian airline Lynx Air, owing $186M, sells life jackets, oxygen masks, and aircraft parts to recoup losses; leasing companies cancel contracts for 9 aircraft.

Defunct Canadian discount airline Lynx Air, which sought creditor protection earlier this year, is selling off life jackets, oxygen masks, and other aircraft parts to recoup losses. Owing $186 million, the airline has struck deals with foreign aviation companies to sell items such as seats, tires, and transponders. However, its leasing companies have cancelled contracts for the nine aircraft, taking them back.