Canada Jetlines Ltd. (JET: TSX-V) (the
“
Company” or “
Jetlines”) is
pleased to announce that it intends to offer ultra-low fare service
to the Montréal region from Aéroport Montréal Saint-Hubert
Longueuil (“Saint-Hubert”).
Saint-Hubert is being expanded as part of a plan
to be positioned as a low-cost airport serving the Montréal area.
Once the necessary expansions are complete, the airport will be
able to support ULCC airlines by as early as 2020. The recently
upgraded runway was one of the first milestones the airport
achieved in order to become the low-cost airport of choice for the
Montérégie region and the province. The runway reconstruction
project was supported by the Canadian federal government who
injected $13 million into the project. The airport also has plans
to build a new passenger terminal building.
“We are excited to enter into this partnership
with the Saint-Hubert airport and support their vision of building
a low-cost alternative airport in the Montréal region. Montréal
travellers deserve a low cost domestic option and those looking for
low cost air travel options destined south should not have to drive
across the border to Plattsburgh. The Saint-Hubert airport has our
full support and we look forward to working together to design and
build what will become Jetlines base in Montréal,” stated Javier
Suarez, CEO. “Saint-Hubert is a short commute out of the downtown
core of Montréal, and our passengers will not only benefit from
ultra-low airfares, they will also have convenient access to a new
purpose-built low-cost facility in Saint-Hubert near downtown
Montréal.”
Mark Morabito, Executive Chairman, added,
“Canada is the only G7 country without a true independent ultra low
cost carrier and as a result Canadians are consistently overpaying
for air travel; Jetlines is here to change that. Jetlines is
committed to growing its presence in eastern Canada and Québec by
partnering for the long term with Saint-Hubert airport.”
“We are delighted at the prospect of partnering
with Jetlines to offer ULCC service to the Montréal and Montérégie
regions. Given the renewed interest by scheduled carriers to
operate at St. Hubert, we will accelerate our efforts to secure a
designated airport status which will enable us to provide security
screening services from the Canadian Air Transport Security
Authority (CATSA) at an affordable rate. At the same time, our
intention is to obtain customs and immigration services from the
Canada Border Services Agency (CBSA) in order to offer transborder
flights, which will allow us to recapture the exodus of Québec
passengers who travel to US airports for their flights. These two
conditions, which depend solely on federal government decisions,
are necessary for us to be able to partner with air carriers of
Jetlines’ caliber. We will be reaching out to Minister Marc Garneau
and our elected officials to accelerate these decisions. We share
the federal government’s stated goal to offer affordable and
efficient services to Canadians and our partnership with Jetlines
is an important step towards that goal.” said Jane Foyle, General
Manager of DASH-L, the non-profit organization that manages the
airport.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.
About Aéroport Montréal Saint-Hubert
Longueuil
Strategically located 15 minutes from downtown
Montreal, Aéroport Montréal Saint-Hubert Longueuil has a robust
airside infrastructure, a control tower and a wide offering of
aviation services. DASH-L, a non-profit agency, has operated and
managed the airport since September 2004. DASH-L’s objective is to
develop the airport in a manner that will make air travel
accessible and affordable to all.
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, expected operations from
Saint-Hubert, the ability to offer ultra-low airfares, 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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