TORONTO — It looks like the worst kind of turbulence ahead for Canada Jetlines.

Earlier this week the airline announced the resignation of Brigitte Goersch, Ryan Goepel, Beth Horowitz and Shawn Klerer from its board of directors.

Goersch also resigned as CEO. Goepel, who is President and CEO at Global Crossing Airlines, was chairman of the Canada Jetlines board.

In its statement Canada Jetlines said: “The continuing operations of the company have been dependent upon the company’s ability to raise adequate financing and to grow the airline to the point where it can commence profitable operations. The company has historically financed its future requirements through a combination of debt, equity or other facilities. As a result, the company will need to raise additional capital to continue operations. The company’s board of directors and management is actively working on potential sources of additional capital. Additional details will be provided once available.”

The statement ended on this note: “At this time the airline is continuing operations.”

Now airline news site GateChecked is reporting that Canada Jetlines crew and staff received a memo from management yesterday indicating that an announcement about the airline’s closure is expected soon.

The site also reports that Canada Jetlines’ “unofficially discontinued scheduled service in late June” and has been operating charters. In May 2024 chief executive Eddy Doyle announced his departure from the company effective June 30.