VANCOUVER, British Columbia, March 14, 2019 (GLOBE NEWSWIRE) -- Canada Jetlines Ltd. (JET:TSX-V) (JETMF:OTCQB) (the “Company” or “Jetlines”) is pleased to provide an update on recent operational developments related to Jetlines’ build out in preparation for a targeted launch later this year.
Aircraft Maintenance and Preparation for Delivery
Jetlines signed an agreement with AKKA Technologies (AKA:EPA) for the paint livery engineering drawings, stencils and placards. AKKA ranks as the European leader in engineering consulting and R&D services in mobility and carries a strong presence globally. AKKA is also accomplishing the cabin interior reconfiguration Engineering through a direct contract with the aircraft lessor.
Jetlines signed an agreement with Flightcraft Maintenance Services Ltd. (“FMS”) in Winnipeg for the aircraft reconfigurations. FMS has been engaged to install the 180 Passenger configuration with new ACRO Series 3 Superlight ST+ seats, new carpets and convert the cargo holds to bulk load configuration. With over 20 years in the business, FMS has established itself internationally as a reliable and consistent aircraft maintenance and overhaul facility. FMS is Transport Canada and EASA certified, and is internationally recognized as a leader in global Maintenance, Repair, and Operations (MRO) services.
Jetlines has reached an agreement with TRAX, the leading global provider of aviation maintenance mobile and cloud products, for their maintenance software and services. TRAX has become the best-selling aircraft fleet management software on the market today by providing a robust suite of products and services to over 170 customers worldwide. TRAX’s products provide the means to manage and maintain all information generated and allows for complete information flow with leading-edge tools for customization that will enable Jetlines to maintain an efficient process and tight cost control as a result.
Phil Larsen, VP Maintenance commented, “We are very pleased to have these highly recognized suppliers working with us for the launch of Jetlines. With AKKA Technologies doing the engineering and kit provisioning, and Flightcraft accomplishing the reconfiguration and maintenance, we can be assured a great high-quality product.”
Integrated Flight Operations Software - SysAIO
Jetlines also announces an agreement with SysAIO Inc., a Canadian company that provides a series of high-end online applications through a SaaS (software as a service) model. SysAIO will be providing Jetlines with a cutting-edge online aviation product, AvAIO (Aviation – All-In-One). AvAIO is an enterprise level aviation system that provides cost-effective operations and crewing solutions. SysAIO was selected by Jetlines for their experience in working with start-ups and their abilities to meet the challenging technical aspects of the aviation industry. Jetlines selected SysAIO due the unique flexibility it provides, allowing a smaller airline to customize the software to their individual needs as it relates to crew scheduling, reporting tools, and customization of the Safety Management System (SMS) modules, rather than conforming to legacy systems that often prescribe higher costs.
About Canada Jetlines Ltd.
Canada Jetlines is set to become Canada’s first true 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. The Company plans to commence operations with the Airbus A320 fleet, the most widely used aircraft for ultra-low-cost carriers worldwide. 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.
Jetlines ability to launch airline service remains subject to the completion of the airline licensing process, the receipt of applicable regulatory approvals and the completion of financing.
For more information on Jetlines, please visit our website at www.jetlines.ca.
ON BEHALF OF THE BOARD
"Mark J. Morabito"
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:
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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 terms and future benefits of the various commercial agreements described in this press release, Jetlines entry into these commercial agreements, the routes that Jetlines intends to service, Jetlines ability to operate these routes successfully, the commencement of airline operations, the benefits of the various commercial agreements set out in this press release and the success of expected future operations of the Company.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements 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 receipt of financing to commence airline operations, the accuracy, reliability and success of the Jetlines’ business model; the timely receipt of governmental approvals; the timely commencement of operations by Jetlines and the success of such operations; 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; 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, the ability to obtain financing at acceptable terms and in a timely manner to meet aircraft lease, regulatory and other financial commitments required for start-up, the impact of general economic conditions, domestic and international airline industry conditions, future relations with SmartLynx, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, 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; risks related to disputes under the agreement with Boeing to acquire 737-Max aircraft, 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.