Canada Jetlines Ltd. (JET: TSX-V) (JETMF:
OTCQB) (the “
Company” or
“
Jetlines”) is pleased to announce that it has
signed an agreement with Elavon, Inc., a wholly owned subsidiary of
U.S. Bancorp (NYSE: USB), as its payment processing partner of
choice.
Elavon provides end-to-end payment processing
solutions and services to more than 1.3 million customers in the
United States, Europe, Canada, Mexico, and Puerto Rico, and is a
leading payments provider to airlines around the world.
Elavon will provide Jetlines’ customers with a
secure and easy-to-use payment processing platform. Its omnichannel
payment solutions will allow Jetlines’ future passengers to pay
however they want whether its in-person, online, on the phone, or
on their mobile device. Elavon also offers top-tier security
controls to protect Jetlines and its future passengers’ data and
privacy. Elavon’s platform will prevent fraud through its advanced
and proprietary risk management tools, fraud detection solutions,
and managed chargeback services.
Jetlines Chief Financial Officer, Carlo Valente,
commented, “Elavon and U.S. Bank have a track record of delivering
reliable, innovative, and secure payment solutions. Elavon is
consistently rated among the top global payment providers and
offers secure payments solutions that comply with industry
standards. With data breaches becoming more and more common today,
security of customer payments is crucial while also reducing the
cost of payment card industry (PCI) data compliance. Elavon meets
these needs with its award-winning, international processing
platform and global payment solutions.”
“We are honored Jetlines named us their payments
processing partner of choice,” said Brett Turner, head of airline
acquiring, Elavon. “We’ve been processing payments for the airline
industry since 1989, serving global and regional carriers of all
sizes. Adding Jetlines to our portfolio of airline customers
deepens our commitment to the Canadian market.”
About Elavon, Inc.
Elavon, a wholly owned subsidiary of U.S.
Bancorp (NYSE: USB), provides end-to-end payment processing
solutions and services to more than 1.3 million customers in the
United States, Europe, Canada, Mexico, and Puerto Rico. As the
leading provider for airlines and a top five provider in
hospitality, healthcare, retail, and public sector/education,
Elavon’s innovative payment solutions are designed to solve pain
points for businesses from small to enterprise-sized.
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 terms and future benefits of the various commercial
agreements described in this press release, Jetlines entry into
these commercial agreements, the routes that Jetlines intends to
service, Jetlines ability to operate these routes successfully, the
commencement of airline 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, the ability to
obtain financing at acceptable terms and in a timely manner to meet
aircraft lease, regulatory and other financial commitments required
for start-up, the impact of general economic conditions,
domestic and international airline industry conditions, future
relations with SmartLynx, 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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