Key takeaways * Flares occur during ~30% of transits, contaminating transit spectra via the transit light source effect. * We characterize the NIR line and continuum emission of flares for the first time, allowing us to model these events. * We mask lines and subtract flare models from the transit spectra, ~ finding up to 80% of contamination can be removed. * Flare mitigation may be a viable pathway to increase the impact of transit observations of small planets around active stars
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