VANCOUVER — Canada Jetlines has delayed its June 2018 launch and says it won’t have a new launch date confirmed until the second quarter of 2018.
The would-be ultra low-cost carrier says it is in advanced negotiations with several major aircraft lessors to secure the aircraft required to support both its start-up and growth plans.
“However, it will not attain a June 2018 start-up date as previously projected. Once Jetlines has secured definitive aircraft delivery dates, it will provide new guidance to the market on its projected start-up date. It expects to provide an update announcement in the second quarter of 2018. In the interim Jetlines continues to advance its efforts with personnel recruitment, airport agreements, the licensing process and the financing plan.”
Over the past year the company appointed Stan Gadek, former CEO of Sun Country Airlines and Senior Vice President Finance, Chief Financial Officer and Treasurer for NYSE listed, AirTran Holdings, as CEO.
Among other things it also concluded arrangements to offer service from John C. Munro Hamilton International Airport, Abbotsford International Airport and Halifax Stanfield International Airport and says more airport agreements are expected to be announced in the second quarter of 2018.
“The key items remaining to commence flight operations are the completion of the licensing process, aircraft acquisition and completion of the financing process. With respect to aircraft acquisition, the current market for leased aircraft has tightened considerably during 2017 and early 2018 … Jetlines previously secured aircraft under an LOI; however, the lessor was unable to provide a definitive delivery date.”
