(JET: TSX-V)
VANCOUVER, June 20, 2018 /CNW/ - Canada Jetlines
Ltd. (JET: TSX-V) (the "Company" or "Jetlines")
is pleased to announce the appointment of Mr. Javier Suarez as Chief Commercial Officer,
effective July 30, 2018.
Incoming CEO Lukas Johnson
commented, "I am excited to bring Javier to the Jetlines team.
Javier's ultra-low-cost carrier expertise in network planning and
revenue management gained with many years of experience at
VivaAerobus and Vueling will be invaluable as we continue to
develop and deliver on the Jetlines strategy. I look forward to
working closely with Javier to build Canada's first true ultra-low-cost air
carrier."
Javier Suarez commented, "I look
forward to working with Lukas and the team. My expertise and
knowledge of how to strategically place and manage routes will be
an asset to the Company and will help ensure Jetlines is able to be
as cost efficient and operationally effective as possible."
Mr. Javier Suarez has over 10
years of airline executive experience with expertise in network and
fleet planning, revenue management, and e-commerce. Most recently,
Javier was Vice President, Network Planning, Revenue Management,
E-Commerce with VivaAerobus. Javier was part of the senior
management team that improved profitability from a breakeven in
2014 to becoming the most profitable airline in Mexico in 2017. During his tenure, he was
responsible for growing its fleet from 13 to 32 aircraft between
2014 and 2018, managing the majority of commercial functions,
including the online commercial distribution and negotiations with
various third-party vendors. During the last four years, he
launched 55 routes with a 98% success rate.
Javier's previous experience includes holding progressively
senior roles with Vueling Airlines from 2010 to 2014, an
ultra-low-cost carrier in Europe,
most notably as the Director of Network Planning, Scheduling, Slots
and Corporate Affairs. During his tenure, Javier managed the
network of the airline, growing the fleet size from 38 to 105
aircraft in a four-year span. He defined the Vueling network
strategy that operated close to 400 routes that generated over USD
$2 billion in revenue. Additionally,
Javier was responsible for launching more than 200 routes over
three years, achieving a 92% success rate. Prior to his tenure with
Vueling, Javier held the role of Senior Strategist with Qatar
Airways from 2008 to 2010.
Javier has earned a Masters in Management from Harvard University, Masters in Marketing from ESIC
Marketing School in Madrid, and
Bachelor of Arts, Airline Business Administration from the Autonoma
University of Madrid.
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. 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.
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 business plan, the ability to offer ultra-low fares, potential
route destinations, ticket sales and future airline operations of
the Company.
In certain cases, forward-looking information can be
identified by the use of words such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state 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 applicability of the
Jetlines' business model; the timely receipt of governmental
approvals, including the receipt of approval from regulators in
Canada, the United States, Mexico and other jurisdictions where Jetlines
may operate; the timely commencement of operations by Jetlines and
the success of such operations; the ability of Jetlines to
implement its business plan as intended; 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 acts of God, the impact of general
economic conditions, changing domestic and international airline
industry conditions, volatility of fuel prices, increases in
operating costs, terrorism, pandemics, 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 the
acceleration of payments under the agreement with Boeing to acquire
737-Max aircraft, financing, capitalization and liquidity
risks, including the risk that the financing necessary to fund
operations may not be obtained 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.
SOURCE Canada Jetlines Ltd.