Canada Jetlines Ltd. (TSX-V:JET) (OTCQB:JETMF) (the “Company” or
“Jetlines”) is pleased to announce that it intends to offer
ultra-low fare service from Abbotsford International Airport (YXX),
when it begins flight operations in Summer 2018.
Stan Gadek, CEO of Jetlines stated, “Jetlines is
thrilled to expand the network to the west coast of Canada. The
addition of the Abbotsford International Airport extends Jetlines'
reach allowing greater access to large populations.” Jetlines plans
to commence service from Hamilton, Ontario to Abbotsford, British
Columbia in the summer of 2018, with continued development of the
network after that.
General Manager for Abbotsford International
Airport Parm Sidhu, said, “Abbotsford International Airport is open
for business. We are very excited that Canada Jetlines has
announced Abbotsford as a base of operations. Our business model at
Abbotsford International empowers airlines to grow our airport with
one of the most competitive airport fee platforms in Canada.”
About Canada Jetlines Ltd.
Canada Jetlines is set to become Canada’s first
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.
Jetlines plans to operate modern Boeing
737-800NG aircraft in a 189 seat, all-coach configuration. Jetlines
believes that Canadians deserve to have affordable low fares with
the added convenience of operating from secondary airports.
Additional services for baggage, seat selection and onboard
beverages will be available to customers for an additional charge.
Jetlines is planning to begin ticket sales through its website
www.jetlines.ca in Spring 2018 and targeting start of flight
operations for Summer 2018, subject to government approval.
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:The Howard
Group Inc.Tel: (403) 221-0915Toll Free: 1-888-221-0915Jeff Walker:
jeff@howardgroupinc.com
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 airports that Jetlines intends to utilize, the
routes that Jetlines intends to fly, Jetlines business plan, the
timelines for ticket sales and the start of airline operations,
Jetlines ability to offer ultra-low fares, 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 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; the completion of financing for airline
operations; 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,
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.
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