A flier (also spelled “flyer”) is a printed sheet of paper designed to share information, advertise something, or announce an event. You might see fliers taped to telephone poles advertising a lost cat, stacked on a table promoting a school fundraiser, or handed out on street corners announcing a new restaurant opening. Fliers are usually simple, eye-catching, and meant to be distributed widely and inexpensively.

The word can also mean someone who flies, especially a pilot or an aviator. Early airplane pilots were often called fliers, and the term still appears in phrases like “frequent flier” for someone who travels by plane frequently. You might read about a daring flier who performed aerial stunts in the early days of aviation, or call yourself a nervous flier if airplane travel makes you anxious.

In finance, the phrase “taking a flier” means making a risky investment or gamble, like betting on something with long odds. It suggests taking a chance on something that might not work out, similar to how early fliers took risks every time they went up in their fragile aircraft.