Jetlines Ltd. (JET: TSX-V) (the
“
Company” or “
Jetlines”) is
pleased to announce it intends to provide future service to several
sun destinations in Mexico including Puerto Vallarta, Los Cabos,
and Cancun.
Jetlines has reached agreements with both Grupo
Aeroportuario del Pacífico (NYSE: PAC) (“GAP”) to provide future
service to the Puerto Vallarta International Airport (PVR) and the
Los Cabos International Airport (SJD) as well as Grupo
Aeroportuario del Sureste (NYSE: ASR) (“ASUR”) to provide future
service to the Cancun International Airport (CUN). Puerto Vallarta,
Los Cabos, and Cancun are some of Mexico’s top tourism destinations
for Canadians with nearly two million passengers travelling from
Canada down to Mexico every year, with the numbers continually
rising.
CEO Javier Suarez commented, “We are thrilled to
announce future service to these airports. I have worked in this
market extensively and have a deep understanding of how to operate
successful routes in and out of Mexico. We look forward to
providing Canadians with ultra-low fares for their vacation plans.
With the money saved, Canadians will have the ability to spend more
at their destinations; staying longer or in nicer resorts with
their friends and family members. Our low fares will also encourage
Mexicans to visit beautiful Canada.”
GAP’s CEO Raul Revuelta commented, “We at GAP
are pleased to welcome Jetlines at our Puerto Vallarta and Los
Cabos airports. During 2018, for the first time in history, we
received a combined traffic of 10 million passengers at both
airports; this due to the growing number of hotel rooms and the
high quality of the touristic products offered at these amazing
destinations. I am sure that our Canadian friends will have a
wonderful time while visiting Puerto Vallarta and Los Cabos, and we
at GAP will continue to work to provide them with the best airport
experience.”
ASUR’s Customer and Route Development Director
Alejandro Vales commented, “ASUR is delighted to welcome Jetlines
to our Cancun airport. A brand-new Canadian airline bridging new
origins from Canada to our world-class destination will be a recipe
for success indeed.”
The Company’s ability to service these routes is
subject to the completion of the airline licensing process and the
receipt of applicable regulatory approvals.
About Grupo Aeroportuario del
Pacífico
Grupo Aeroportuario del Pacífico, S.A.B. de C.V.
(GAP) operates 12 airports throughout Mexico’s Pacific region,
including the major cities of Guadalajara and Tijuana, the four
tourist destinations of Puerto Vallarta, Los Cabos, La Paz and
Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato,
Morelia, Aguascalientes, Mexicali and Los Mochis. In February 2006,
GAP’s shares were listed on the New York Stock Exchange under the
ticker symbol “PAC” and on the Mexican Stock Exchange under the
ticker symbol “GAP”. In April 2015 GAP acquired 100% of Desarrollo
de Concesiones Aeroportuarias, S.L., which owns a majority stake of
MBJ Airports Limited, a company operating the Sangster
International Airport in Montego Bay, Jamaica. For more
information, visit https://www.aeropuertosgap.com.mx/en/
About Grupo Aeroportuario del
Sureste
Grupo Aeroportuario del Sureste, S.A.B. de C.V.
(ASUR) is a leading international airport operator with a portfolio
of concessions to operate, maintain and develop 16 airports in the
Americas. This comprises nine airports in southeast Mexico,
including Cancun Airport, the most important tourist destination in
Mexico, the Caribbean and Latin America, and six airports in
northern Colombia, including Medellin international airport (Rio
Negro), the second busiest in Colombia. ASUR is also a 60% JV
partner in Aerostar Airport Holdings, LLC, operator of the Luis
Muñoz Marín International Airport serving the capital of Puerto
Rico, San Juan. San Juan’s Airport is the island’s primary gateway
for international and mainland-US destinations and was the first,
and currently the only major airport in the US to have successfully
completed a public–private partnership under the FAA Pilot Program.
Headquartered in Mexico, ASUR is listed both on the Mexican Bolsa,
where it trades under the symbol ASUR, and on the NYSE in the U.S.,
where it trades under the symbol ASR. One ADS represents ten (10)
series B shares. ASUR is one of the top four emerging market
companies in the transportation and transportation infrastructure
sector included in the Dow Jones Sustainability Emerging Markets
Index (DJSI EM). For more information, visitwww.asur.com.mx
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 routes that Jetlines intends to service, Jetlines
ability to operate these routes successfully, 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 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, 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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