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Canada Jetlines Ltd
Symbol JET
Shares Issued 70,028,939
Close 2018-05-07 C$ 0.89
Recent Sedar Documents

Canada Jetlines to lease two Airbus A320 aircraft

2018-05-08 14:17 ET - News Release

Mr. Mark Morabito reports

CANADA JETLINES PROVIDES CORPORATE UPDATE

Canada Jetlines Ltd. has provided an update on recent corporate developments related to aircraft acquisition. Jetlines concluded a term sheet on April 23, 2018, to lease two Airbus A320 aircraft and made a deposit payment of $876,000 (U.S.). The term sheet is subject to executing a definitive lease agreement and other conditions customary to a transaction of this nature.

Once a definitive lease agreement is concluded for these aircraft, the company will be able to provide new guidance to the market on its projected start-up date and aircraft delivery schedule. The company is targeting the conclusion of a definitive lease agreement before the end of the second quarter of 2018. In the interim, Jetlines continues to advance its efforts with personnel recruitment, airport agreements, the licensing process and the financing plan. Additional information is available in the company's management discussions and analysis dated April 26, 2018.

About Canada Jetlines Ltd.

Canada Jetlines is set to become Canada's first ultralow-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. 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-per-cent foreign voting interests.

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