Greyhound was started in 1996 with Kelowna Flighcraft operating the 727-200 aircraft, and Greyhound Lines of Canada selling the tickets. It was hubbed through Winnipeg, with 4 banks of connecting flights per day (2 westbound, 2 eastbound), and also a small number of other nonstop flights. In addition to Winnipeg they served Vancouver, Kelowna, Calgary, Edmonton, Hamilton, Toronto and Ottawa. In 1997 Laidlaw bought Greyhound Lines, but weren't interested in the airline. This is unfortunate, as for although they were expecting to lose money over the next winter, they were quite profitable in the summertime. I don't have loads for the other stations, but I do know that in the month before they shut down their Hamilton loads were 91%. Essentially it was a good airline that Laidlaw just wasn't interested in continuing (conventional knowledge is that "there's no money in the airline industry" - ironically, although Greyhound is a money-maker, some of Laidlaw's other diversification efforts have been disasters...)
Note that Kelowna Flightcraft is the company that flies 727F's for Purolator Courier in Canada.