Lessors are working to recover four A320-200s leased by Canada’s Jetline after the airline filed for bankruptcy on September 11, 2024, after failing to secure financing to proceed with its Proposal under the Bankruptcy and Insolvency Act, leading to the suspension of all flights on August 15.
Canada Jetlines owes CAD 11.8m (USD 8.7m) to 225 creditors, with the top ten creditors comprising various companies and organizations, including CAD 1.19m (USD 876,106) in future bookings.
The airline’s fleet included four A320-200s, which are currently stored at Lourdes/Tarbes, Kitchener, Maastricht, and Amsterdam Schiphol, as the airline struggled with cash flow and was unable to resume operations.
The leases are from Aviation Capital Group, CCB Financial Leasing, FTAI Aviation, and Jackson Square Aviation. The airframes are 2-GCJK (msn 5995), C-GCJL (msn 4175), C-GJLH (msn 3460), and VP-CBF (msn 5661).
Canada Jetlines s has appointed BDO Canada Limited as the trustee for its bankrupt estate, while Dentons Canada LLP will continue as the airline’s legal counsel.
