Is there a reason for this broken "Fly"?
This is likely a bug in Crunchyroll's subtitle renderer. Relevant excerpts from the subtitle file for this episode:

[V4+ Styles]
Format: Name, Fontname, Fontsize, PrimaryColour, SecondaryColour, OutlineColour, BackColour, Bold, Italic, Underline, StrikeOut, ScaleX, ScaleY, Spacing, Angle, BorderStyle, Outline, Shadow, Alignment, MarginL, MarginR, MarginV, Encoding
Style: fly,Open Sans Semibold,58,&amp;H00E3E0E1,&amp;H000000FF,&amp;H002D2625,&amp;H005C574B,1,0,0,0,100,100,0,52,1,0,0,9,667,133,69,0

...

[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:01:43.41,0:01:45.66,fly,sign,0000,0000,0000,,Fly


Nothing here indicates that the word "Fly" was supposed to be broken across two lines. If it was, there would be a \N newline in the markup like so: Fl\Ny. (I cannot think of any reason why any reasonable person would want to break it as "Fl" + "y" anyway.)

I do not know what technology Crunchyroll uses to render its subtitles, so I cannot speculate any further as to the exact cause of this issue. 



As to how I obtained this file in the first place - I could spin you a narrative about how Crunchyroll clearly uses softsubs (since you can turn them off or change languages without Crunchyroll having to re-load a different version of the video), and so the softsubs must be transmitted to your browser, and from that point it just becomes a trivial matter of intercepting the web request that contains the softsubs and going from there. But really, I sailed the seven seas. (Don't worry, I pay for a Crunchyroll subscription.)