Loud music may advertise their whereabouts (5)

I believe the answer is:

fairs

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'advertise their whereabouts' is the definition.
I can't judge whether this defines the answer.

'loud music' is the wordplay.
'loud' becomes 'f' (A musical term).
'music' becomes 'airs' (**).
'f'+'airs'='FAIRS'

'may' is the link.

Can you help me to learn more?

(Other definitions for fairs that I've seen before include "clears up" , "They're for amusement" .)

I've seen this clue in The Globe and Mail.

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