Jetlines Selects CAE for Airbus A320 Pilot Training
October 23 2018 - 9:00AM
Canada Jetlines Ltd. (JET: TSX-V) (the
“
Company” or “
Jetlines”) is
pleased to announce the signing of an exclusive Airbus A320 pilot
training agreement with global aviation training leader CAE (NYSE:
CAE; TSX: CAE). Starting in the first half of 2019, CAE
instructors will train Jetlines’ pilots at CAE’s training centre in
Montreal using the latest training equipment suite.
In addition, the airline’s pilots will have
access, on-site and remotely, to the most advanced training
material, leveraging Pelesys, a CAE company, for Airbus A320
comprehensive ground-school training solutions. This holistic
training solutions experience reduces the time spent in the
classroom and will allow crews to be more productive while ensuring
their technical knowledge is maintained at the highest
standards.
Vic Charlebois, VP Flight Operations commented,
“I have long regarded CAE and Pelesys as premier providers of
aviation training solutions. Jetlines is eager to support Canadian
aviation and encourage growth in all of our industries. There are
notable benefits to using a local Canadian company, one of which is
the close collaboration to customize training programs for
Jetlines’ procedures, another is keeping our costs down by having
simulators locally accessible.”
About Canada Jetlines Ltd.
Canada Jetlines is set to become Canada’s first
true Ultra-Low Cost Carrier (ULCC) airline, with plans to operate
flights across Canada and provide non-stop service from Canada to
the United States, Mexico and the Caribbean. The Company plans to
commence operations with the Airbus A320 fleet, the most widely
used aircraft for ultra-low cost carriers worldwide. Jetlines is
led by a board and management team with extensive experience and
expertise in low-cost airlines, start-ups and capital markets. The
Company was granted an unprecedented exemption from the Government
of Canada that will permit it to conduct domestic air services
while having up to 49% foreign voting interests.
For more information on Jetlines, please visit
our website at www.jetlines.ca.
ON BEHALF OF THE BOARD
"Mark J.
Morabito"Executive Chairman
Canada Jetlines is part of the King & Bay group of
companies. King & Bay is a merchant bank that specializes in
identifying, funding, developing and supporting growth
opportunities in the resource, aviation, and technology
sectors.
For more information, please contact:Toll Free:
1-833-226-5387Email: investor.relations@jetlines.ca
Cautionary Note Regarding Forward-Looking
Information
This news release contains "forward-looking
information" concerning anticipated developments and events that
may occur in the future. Forward-looking information contained in
this news release includes, but is not limited to, statements with
respect to the commencement of operations and the success of
expected future operations of the Company.
In certain cases, forward-looking information
can be identified by the use of words such as "plans", "expects"
"budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or " or variations of such words and phrases or
statements that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved"
suggesting future outcomes, or other expectations, beliefs, plans,
objectives, assumptions, intentions or statements about future
events or performance. Forward-looking information contained in
this news release is based on certain factors and assumptions
regarding, among other things, the receipt of financing to commence
airline operations, the accuracy, reliability and success of the
Jetlines’ business model; the timely receipt of governmental
approvals; the timely commencement of operations by Jetlines and
the success of such operations; the legislative and regulatory
environments of the jurisdictions where the Jetlines will carry on
business or have operations; the impact of competition and the
competitive response to the Jetlines’ business strategy; and the
availability of aircraft. While the Company considers these
assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect.
Forward-looking information involves known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
information. Such factors include risks related to ability to
obtain financing at acceptable terms, the impact of general
economic conditions, domestic and international airline industry
conditions, volatility of fuel prices, increases in operating
costs, terrorism, pandemics, natural disasters, currency
fluctuations, interest rates, risks specific to the airline
industry, the ability of management to implement Jetlines’
operational strategy, the ability to attract qualified management
and staff, labour disputes, regulatory risks, including risks
relating to the acquisition of the necessary licenses and permits;
risks related to disputes under the agreement with Boeing to
acquire 737-Max aircraft, and the additional risks identified in
the "Risk Factors" section of the Company's reports and filings
with applicable Canadian securities regulators.
Although the Company has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking information, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking information. The forward-looking information is
made as of the date of this news release. Except as required by
applicable securities laws, the Company does not undertake any
obligation to publicly update or revise any forward-looking
information.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) has reviewed or accepts
responsibility for the adequacy or accuracy of this release.
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