VANCOUVER, British Columbia, Jan. 30, 2018
(GLOBE NEWSWIRE) -- Jetlines Ltd. (TSX-V:JET)
(OTCQB:JETMF) (the “Company” or
“Jetlines”) is pleased to announce the
appointments of Captain Vic Charlebois as Vice President Flight
Operations and Phil Larsen as Vice President Maintenance effective
immediately. Mr. Charlebois and Mr. Larsen will report directly to
CEO, Stan Gadek.
Having built an aviation career including nearly
twenty years with the Canadian Forces, as well as serving as VP
Flight Operations for First Air, Zoom Airlines and Canada 3000, Mr.
Charlebois will have responsibility for all pilot, flight
attendant, flight dispatch, systems operations control and training
functions throughout the airline.
Stan Gadek said, “Vic is truly a pilot’s pilot.
He is highly experienced with multiple type ratings in large
transport category aircraft such as the Boeing 757/767 and Airbus
A320/330, as well as numerous military large piston, turbine and
turbojet aircraft. I am delighted to have Vic leading our flight
operations department.”
Vic commented, “I am eager to join the Jetlines
team and help build the next celebrated airline of Canada. This is
a significant honour and I look forward to working with our
Transport Canada Certification Team and building a safe, compliant
flight operations department that will be a core asset to Canada
Jetlines’ success.”
Gadek continued, “Phil Larsen is another
exceptional example of aviation leadership. With over twenty years’
experience in senior roles in maintenance, engineering and
technical services, at Canadian Airlines International, Air Canada,
and CHC Global Operations Group, Phil is the ideal person for this
role. I am privileged to have him lead our technical operations as
we continue to bring Jetlines to operational status.”
Phil stated, “I look forward to working with a
great team and being part of launching Canada Jetlines, a true ULCC
airline in Canada as a safe, affordable new service.”
Gadek went on to say, “I am excited and proud
that Vic and Phil are coming on board. I know that with their
leadership we will build an organization that people will want to
be a part of and our customers will want to fly.”
Jetlines has granted a combined total of 450,000
stock options to Mr. Charlebois and Mr. Larsen. The stock options
have been issued for a five-year term, with one quarter vesting
every six months from the date of grant.
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.
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) 221-0915
Toll Free: 1-888-221-0915
Jeff 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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