The most common and most likely answer to this crossword clue is the 8 letter word WHITECAP
I've seen this crossword clue in The Guardian
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More clues leading to the result WHITECAP
Buddy explains!
The straight part
We know that "Flyer" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case flyer = whitecap.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does WHITECAP mean?
WHITECAP noun- Any of several birds having a white patch on the head.
- A wave having a white crest; a breaker.
- A member of a self-appointed vigilante committee that carried out lynchings. Some early ones wore white hoods or masks.