Canada Jetlines has ceased all airline operations and intends to file for creditor protection, referring to the move as “temporary” and making efforts to assist passengers.
Canada Jetlines has a fleet of four A320, one of them leased from Dublin based Jackson Square Aviation and one each from Aviation Capital Group Tokyo and CCB Financial Leasing China.
The low-cost carrier first unveiled its brand in 2013 and began flights in September 2022 between Toronto and Calgary, operating a fleet of four Airbus A320-200 aircraft to regional destinations like Cancun, Miami, Orlando, and Montego Bay
Recent resignations by four executives, including CEO Brigitte Goersch, indicate challenges in financing and growing the airline to profitability
Passengers with existing bookings advised to contact credit card companies for refunds, company to file for creditor protection with additional details to follow, reflecting ongoing struggles among new carriers in the industry.
Despite Ottawa increasing the foreign ownership ceiling on Canadian airlines to 49pc from 25pc in 2018 to attract more investors, Canada Jetlines setbacks include postponing its planned December 2019 launch and laying off most employees after difficulties securing financing and losing investment partners, following seven years of fundraising efforts.
Eddy Doyle stepped down as CEO in June 30, 2021 and the airline faced challenges since its inaugural flight in September 2022. The airline had been leasing some of its aircraft to carriers in Europe, and in January 2023, it paused domestic routes to focus on sun destinations and aircraft leasing with plans to resume domestic flights later in the year
