Canada Jetlines
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| Founded | 2013 | ||||||
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| Headquarters | 1140 West Pender Street, Vancouver, British Columbia | ||||||
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| Website | jetlines | ||||||
Canada Jetlines, Ltd. (TSX-V : JET) or simply Jetlines, is a planned Canadian ultra low-cost airline headquartered in Vancouver, British Columbia. Jetlines aims to meet the market demand in Canada for low-fare air travel.[3] It plans to establish its base in Hamilton, Southern Ontario, then establish a secondary base in Abbotsford, British Columbia.
Jetlines seeks to fly routes to unserved or underserved markets by other airlines, such as Hamilton, Ontario to Halifax, Nova Scotia.[4] Jetlines plans to follow the business model of European low-cost carriers Ryanair and easyJet by operating from smaller secondary airports like Abbotsford International Airport when possible.[4]
The airline expects to receive its air operator's certificate approximately 5–6 months after being fully funded.[citation needed]
History
On February 28, 2017, Canada Jetlines completed a business combination with Jet Metal. Until then, Canada Jetlines was a private company that had raised money over three years with the goal of becoming a ULCC. Jet Metal Corp. was a publicly listed company that was previously involved in mineral exploration, but had raised capital in 2014 to search for a new business opportunity. An IPO process is quite lengthy and expensive, so it is common in Canada for private corporations to obtain a public listing through a corporate transaction with an inactive listed company. A public listing was sought as it provides greater access to capital given the increased liquidity compared to a private corporation. The common shares of Canada Jetlines trades on the Toronto Stock Exchange – Venture Exchange ("TSXV") with the ticker symbol "JET", as well as on the OTCQB with the ticker symbol "JETMF".
In June 2016 the airline announced that it had asked the Canadian government to relax its legal requirement for Canadian airlines to have no more than 25% foreign ownership, allowing Canada Jetlines to seek foreign investment up to the level of 49% ownership.[5] On November 3, 2016, Transport Minister Marc Garneau approved Jetlines' request for exemption from the current foreign ownership rules, which allowed the airline to access necessary capital in order to begin operations.[6] The airline has one ownership member from Europe and a board made up of industry members from Europe and the United States.
On November 4, 2016, Canada Jetlines announced that it is planning to launch operations on strong primary and secondary routes by operating scheduled point-to-point jet air service. Jetlines plans to operate flights throughout Canada, the United States, Mexico, and the Caribbean, starting with four aircraft in the first year of operation and expanding to 24 aircraft over the first five years of operations. On May 8, 2018, Canada Jetlines announced that it would not be leasing two Boeing 737-800 aircraft as initially planned due the lessor being unable to confirm a delivery date. Jetlines concluded a term sheet on April 23, 2018 to lease two Airbus A320 aircraft instead, and made a deposit payment of US$876,000.[7][8] On June 13, 2018, Jetlines announced that it had partnered with AerCap, a global leader in aircraft leasing and aviation finance, to sign a Definitive Lease Agreement for two Airbus A320 aircraft. Delivery of the two aircraft is expected by the first half of 2019.[9]
Fleet
| Aircraft | In Service |
Orders | Seats | Notes |
|---|---|---|---|---|
| Airbus A320-200 | 0 | 2 | 180 | Deliveries first half 2019.[9] |
Destinations
On September 11, 2017, Canada Jetlines released a map of cities to which it intends to fly by April 2019. The airline is yet to announce which specific airports it will serve in most markets.[10]
References
- ^ https://twitter.com/CanadaJetlines/status/1011595219056373762
- ^ a b c d e f "Leadership Team". Canada Jetlines. Archived from the original on October 25, 2017.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ Deveau, Scott (November 27, 2013). "Canada Jetlines: Ultra-low cost carrier being proposed for Western Canada". The Financial Post. Retrieved December 8, 2014.
- ^ a b eyes underserved Western Canada flight routes
- ^ Korstrom, Glen (June 14, 2016). "Canada Jetlines seeks exemption so its foreign investors have more sway". biv.com. Business In Vancouver. Retrieved July 17, 2016.
- ^ http://m.marketwired.com/press-release/canada-jetlines-jet-metal-corporation-applaud-transport-minister-marc-garneau-approving-tsx-venture-jet-2172575.htm
- ^ "Canada Jetlines Provides Corporate Update". Jetlines. May 8, 2018. Retrieved May 13, 2018.
- ^ "Canada Jetlines finalizes Definitive Lease Agreement for Airbus aircraft". aeronauticsonline.com. Retrieved August 11, 2018.
- ^ a b "Canada Jetlines Prepares for Takeoff with Definitive Lease Agreement for Two Airbus A320 Aircraft". Jetlines. June 13, 2018. Retrieved August 13, 2018.
- ^ "Planned Route Map | Jetlines | Canada's Ultra-Low Cost Airline". jetlines.ca. Retrieved September 19, 2017.
- ^ "Canada Jetlines Announces Primary West Coast Operational Centre". Jetlines. October 30, 2017. Retrieved October 30, 2017.
- ^ "Canada Jetlines Spreads Its Wings by Announcing Halifax Stanfield International Airport as its Eastern Operational Base". GlobeNewswire. December 5, 2017. Retrieved December 5, 2017.
- ^ "Jetlines Announces Partnership with Montréal's Saint-Hubert Airport". Jetlines. November 8, 2018. Retrieved November 8, 2018.