CanJet Delays Planned Fleet Expansion
CanJet Airlines, a division of I.M.P. Group Limited, announced today that negotiations to finalize lease agreements for an additional three Boeing 737 jet aircraft have reached an impasse. Efforts were focused on obtaining the best possible financial arrangement in order to allow CanJet to continue expansion of the airline’s no frills, every day low fare service.
“We couldn’t reach mutual agreement on several important terms and conditions. With the current Canadian economic climate and a very dynamic competitive environment, some long term fleet flexibility is essential to prudently manage our business,” said Mark Winders, COO, CanJet Airlines. “We will continue to look elsewhere for future growth aircraft. This will give us an opportunity to consolidate our growth and further improve customer service to ensure that we are consistently delivering great value to our guests,” he said.
Accordingly, several schedule changes will take effect March 1, 2001. The flight frequency on the Toronto/Winnipeg route will be reduced and two new non-stop flights Toronto-Halifax will be launched as previously announced.
CanJet has achieved extraordinary growth since beginning operations in May, 2000 with 30 employees. Today, the airline employs over 450 people and since launching service on September 5, 2000 with just two aircraft flying to four cities it has grown to six aircraft serving six cities.
CanJet Airlines continues to be committed to providing every day low one-way fares in their markets. With the solid financial backing of the I.M.P. Group and an internationally proven low cost scheduled carrier business plan, CanJet is focused on becoming the consumers’ choice for no frills, low fare travel in Central and Eastern Canada.
So, what do you think? Is this the beginning of the end for CanJet?