Mr. Eddy Doyle reports

CANADA JETLINES EXPERIENCED SIGNIFICANT GROWTH IN FLYING HOURS IN Q2 2023

Canada Jetlines Operations Ltd. has provided an update on key operating metrics, with the aim to provide timely information to its shareholders.

Canada Jetlines experienced strong demand for its services in the second quarter of 2023, with a high utilization rate for its fleet of two Airbus 320 aircraft. The company forecasts to have operated 1,518 block hours in Q2 2023, which will end on June 30. This represents an increase of 265 per cent over the 571 hours flown in Q1 2023. Canada Jetlines' third aircraft is on schedule to be delivered by the end of July, 2023, subject to satisfaction of all conditions precedent to delivery.

In addition, the company has recently obtained its foreign air operator certificate from the Jamaican government. Furthermore, Transport Canada has added North Atlantic operations to its certificate that will allow it to operate numerous charter flights to Greenland this summer. The company is in the process of obtaining its European Third Country Operator (TCO) certificate, which is expected to be completed in Q3 2023, allowing the company to bid on wet-lease contracts for the busy European summer season next year.

"We are very pleased with this significant growth in flying hours and high aircraft utilization. We continue to see strong demand and very positive reception in the industry for the quality of the service we provide. This is thanks to the commitment and dedication of our employees to service excellence," said Eddy Doyle, president and chief executive officer of Canada Jetlines.

We seek Safe Harbor.