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Jetsouth
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Re: CANADA JETLINES getting ready to fly

Wed Oct 02, 2019 11:50 am

Canada Jetlines announced on September 30th that "everything is ready to go, except that they just need more money in order to launch".
 
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Vio
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Re: CANADA JETLINES getting ready to fly

Wed Oct 02, 2019 12:26 pm

This little start up has been making "noise" online for a long time with cheesy adds. None the less, I'm impressed they managed to get airplanes. Time will tell, but starting up the airline is the "easy part". Competing against the other players on the Canadian market is the "hard part". One can think of: Royal Air, Canada 3000, VistaJet, JetsGo, ZOOM and a few others. It's not easy to go against the big boys. If Canada had more people, the story would be different, and unlike Europeans, Canadians are not the traveling type (as much). I've lived in 4 provinces and 1 territory and I've met countless people that have never left their province, and if they did it was somewhere South, to a resort. Given our harsh winters, I can understand that. Also, it's cheaper to fly to Ireland from Vancouver than it is to go to Cape Breton NS. So, you see, why would one go?
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Dominion301
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Re: CANADA JETLINES getting ready to fly

Wed Oct 02, 2019 2:14 pm

Jetsouth wrote:
Canada Jetlines announced on September 30th that "everything is ready to go, except that they just need more money in order to launch".


You can give them "credit" in that regard by not recklessly launching with not enough $ and then shutting down 2 months later. Also, I think the Canadian Transportation Agency have a much higher financial stress test that back in the 80s/90s with all the failed carriers from that era.
 
ctrabs0114
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Re: CANADA JETLINES getting ready to fly

Thu Oct 03, 2019 4:54 am

Jetsouth wrote:
Canada Jetlines announced on September 30th that "everything is ready to go, except that they just need more money in order to launch".


So, everything is not ready to go.

In related news, water is wet.
2019: DAL, MCI, PHX, LAS, DFW, SAT, ORD, SLC, SEA, DTW, PHL, MIA, LAX; B73G (WN x3), B738 (WN, AA, DL), A20N (NK), MD83 (AA), B788 (AA x2), CS1 (DL), B739 (DL), B712 (DL), B752 (AA), B763 (AA), B77W (AA), B789 (AA)
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Jean Leloup
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Re: CANADA JETLINES getting ready to fly

Thu Oct 03, 2019 2:26 pm

Blueknows, do you want to buy my shares for the 27 cents I paid for them? Maybe they will go up above $1 at Christmas for no reason whatsoever like they did last year. ;)

I'm now down to thinking about 5% chance they will launch. That said, I don't feel stupid for investing a small, manageable amount as a gamble. C'est la vie, and I've had better luck with other stocks. That said, I'm starting to agree with Jimbo737 (first time ever), that Canada probably is simply not a good country to invest in airline startups!

JL
Jean Leloup - original a.net moderator and still recovering!
 
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yyz717
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Re: CANADA JETLINES getting ready to fly

Thu Oct 03, 2019 4:22 pm

Jean Leloup wrote:
Blueknows, do you want to buy my shares for the 27 cents I paid for them? Maybe they will go up above $1 at Christmas for no reason whatsoever like they did last year. ;)

I'm now down to thinking about 5% chance they will launch. That said, I don't feel stupid for investing a small, manageable amount as a gamble. C'est la vie, and I've had better luck with other stocks. That said, I'm starting to agree with Jimbo737 (first time ever), that Canada probably is simply not a good country to invest in airline startups!

JL


I bought the stock also, in the event they launch. Not worried about any failure as my investment was small.
I dumped at the gybe mark in strong winds when I looked up at a Porter Q400 on finals. Can't stop spotting.
 
Blueknows
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Re: CANADA JETLINES getting ready to fly

Thu Oct 03, 2019 4:35 pm

They are said to be talking with some investors. I’m assuming working out details.

https://www.globenewswire.com/news-rele ... pdate.html

Here is link to what CANADA TRANSPORTATION AGENCY requires.

https://otc-cta.gc.ca/eng/performance-and-statistics
 
Jetsouth
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Re: CANADA JETLINES getting ready to fly

Fri Oct 04, 2019 9:06 pm

Westjet lucked out when it started, as there really was no other competition except Air Canada at that time. Even Flair may have lucked out, when they started, Westjet was focusing on a more premium market, and Air Canada on international markets. And for the past six months, both Westjet and Air Canada were facing capacity problems as a result of the 737neo fiasco which certainly must have helped Flair. And I am sure that Flair is starting to build a customer base. If Jetlines, and unknown carrier, comes in, going after the exact same market as Flair and Westjet's low cost subsidiary, I can not see a market for three ultra low cost carriers.
 
samuelx88
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Re: CANADA JETLINES getting ready to fly

Fri Oct 04, 2019 10:28 pm

Jetsouth wrote:
Westjet lucked out when it started, as there really was no other competition except Air Canada at that time. Even Flair may have lucked out, when they started, Westjet was focusing on a more premium market, and Air Canada on international markets. And for the past six months, both Westjet and Air Canada were facing capacity problems as a result of the 737neo fiasco which certainly must have helped Flair. And I am sure that Flair is starting to build a customer base. If Jetlines, and unknown carrier, comes in, going after the exact same market as Flair and Westjet's low cost subsidiary, I can not see a market for three ultra low cost carriers.


I agree with you. If Jetlines wants to be successful, it needs to serve market that are ignored by the two other ULCC such as YOW, YQB, YUL (YHU), YXE and YYT. They'll most likely fail if they focus on flights between Vancouver, Calgary, Edmonton and Toronto. Even their YQB-YHU flight will most likely fail. However, I believe in the success of flights like YVR-YQB and Florida-YHU which they already announced they would be doing.
 
CXH
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Re: CANADA JETLINES getting ready to fly

Fri Oct 04, 2019 10:57 pm

Jetsouth wrote:
Westjet lucked out when it started, as there really was no other competition except Air Canada at that time. Even Flair may have lucked out, when they started, Westjet was focusing on a more premium market, and Air Canada on international markets. And for the past six months, both Westjet and Air Canada were facing capacity problems as a result of the 737neo fiasco which certainly must have helped Flair. And I am sure that Flair is starting to build a customer base. If Jetlines, and unknown carrier, comes in, going after the exact same market as Flair and Westjet's low cost subsidiary, I can not see a market for three ultra low cost carriers.


Errr... either you're much younger than me or have a bad memory. WestJet started in 1996. Air Canada and Canadian Airlines were battling it out for domestic and international flights. An upstart airline with three 732s based in Calgary wasn't on the big guys radar. As Canadian's finances got worse and worse, the industry was focused on that. 1999 was quite something with Onex + AA trying to buy Canadian and Air Canada, and Air Canada turning around and trying to buy Canadian. Eventually AC did buy and merge Canadian into AC .... In the meantime, WestJet grew to a decent size. If it wasn't for the big guys fighting, they might have been swatted back in 1997.
I've seen the future, I can't afford it. - Martin Fry
 
robsaw
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Re: CANADA JETLINES getting ready to fly

Sat Oct 05, 2019 4:10 am

Blueknows wrote:

Here is link to what CANADA TRANSPORTATION AGENCY requires.

https://otc-cta.gc.ca/eng/performance-and-statistics


That is a link to WHAT measures the CTA applies to its OWN performance.

If you're referring to financial requirements applicable to Canadian air carrier license applicants (as alluded to in an earlier post in this thread), those are here:

https://otc-cta.gc.ca/eng/publication/f ... applicants
 
WS7M8
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Re: CANADA JETLINES getting ready to fly

Sun Oct 06, 2019 12:40 pm

Jetsouth wrote:
Westjet lucked out when it started, as there really was no other competition except Air Canada at that time. Even Flair may have lucked out, when they started, Westjet was focusing on a more premium market, and Air Canada on international markets. And for the past six months, both Westjet and Air Canada were facing capacity problems as a result of the 737neo fiasco which certainly must have helped Flair. And I am sure that Flair is starting to build a customer base. If Jetlines, and unknown carrier, comes in, going after the exact same market as Flair and Westjet's low cost subsidiary, I can not see a market for three ultra low cost carriers.



Air Canada and WestJet's Max 8 issues haven't helped Flair. They are down to 4-5 serviceable aircraft from 8 this time a year ago. The Gabor Lukacs rules are putting a serious squeeze on them as much as anyone else in the industry as they simply don't have the spare aircraft coverage to cover for their significant delays and maintenance reliability issues. With traffic falling off a cliff like it always does in Canada this time of year, it remains to be seen whether they'll survive the winter.

I personally am surprised we haven't seen them do more wet-leasing of aircraft to other operators like Sunwing who need capacity as they are missing Max 8s. That is an area they could definitely do well in - in fact that is how the company initially created its niche in Canadian aviation.

Their flight attendants have been close to striking for a long time.
 
Blueknows
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Re: CANADA JETLINES getting ready to fly

Sun Oct 06, 2019 1:45 pm

 
Jetsouth
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Re: CANADA JETLINES getting ready to fly

Sun Oct 06, 2019 2:50 pm

Blueknows wrote:

Yes, and their financial update was that they were ready to start operations but they did not have the money to start yet. Investing in any startup airline over the past 30 years in Canada is a huge risk, you are almost guaranteed to lose your money, you can really say that they all failed with exception of Westjet, privately financed Porter, Sunwings and Air Transat, and the latter two are mostly charter airlines. And Flair is teetering and could fail at any time.
 
Blueknows
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Re: CANADA JETLINES getting ready to fly

Tue Oct 08, 2019 3:13 pm

 
robsaw
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Re: CANADA JETLINES getting ready to fly

Tue Oct 08, 2019 3:52 pm

Blueknows wrote:
https://www.globenewswire.com/news-release/2019/10/08/1926526/0/en/Jetlines-Provides-Operations-Update.html


"Jetlines' ability to sell tickets and launch airline service remains subject to the completion of the airline licensing process, the receipt of applicable regulatory approvals and the completion of financing."

I'd suggest the latter point is the major holdup. Without financing they cannot complete the other two items.
 
Blueknows
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Re: CANADA JETLINES getting ready to fly

Wed Oct 09, 2019 7:13 pm

https://centreforaviation.com/news/jetl ... res-944481

Don’t have full membership but looks they are settling debts
 
Blueknows
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Re: CANADA JETLINES getting ready to fly

Wed Oct 09, 2019 7:18 pm

 
Blueknows
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Re: CANADA JETLINES getting ready to fly

Thu Oct 10, 2019 8:28 am

So was able to find this

https://www.skiesmag.com/press-releases ... -update-2/

The company also announces that it has agreed to settle debts owing to arm’s length third party through the issuance of common and variable voting shares of the company. Pursuant to the debt settlement, the company would issue 738,094 common and variable voting shares of the company. The issuance of the shares to the creditors is subject to the approval of the TSX Venture Exchange. All securities issued will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue.
 
ODwyerPW
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Re: CANADA JETLINES getting ready to fly

Fri Oct 11, 2019 12:04 am

Jetsouth wrote:
Canada Jetlines announced on September 30th that "everything is ready to go, except that they just need more money in order to launch".


My Airline, ODwyer Air, is having the same issue.

All kidding aside I hope that they are successful!
learning never stops.
 
Blueknows
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Re: CANADA JETLINES getting ready to fly

Sun Oct 27, 2019 7:42 pm

https://www.bloomberg.com/press-release ... ber-launch

November 5th is next big update As planes will be arriving for inspection
 
Jetsouth
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Re: CANADA JETLINES getting ready to fly

Sun Oct 27, 2019 7:52 pm

Blueknows wrote:
https://www.bloomberg.com/press-releases/2019-05-16/jetlines-announces-a-definitive-lease-agreement-with-smartlynx-for-two-airbus-a320-aircraft-in-line-for-december-launch

November 5th is next big update As planes will be arriving for inspection


Ok, they are coming for inspection....the only little snag that Jetlines will probably face is finding a way to pay for the leases for the planes. Besides that, they will probably say they are ready to fly....
 
Blueknows
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Re: CANADA JETLINES getting ready to fly

Mon Oct 28, 2019 4:22 am

That’s all ready done. It’s just Canada requires a certain amount of cash before flight. It’s a minimum requirement by the government.

https://otc-cta.gc.ca/eng/publication/f ... applicants
 
jimbo737
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Re: CANADA JETLINES getting ready to fly

Mon Oct 28, 2019 5:33 am

Launching from a standing start a week before Xmas with untrained, inexperienced personnel and untested systems.

What could possibly go wrong?
 
Blueknows
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Re: CANADA JETLINES getting ready to fly

Mon Oct 28, 2019 6:29 am

SmartLynx operates planes pilots/ In flight. They will work flights till they hire and train new crew.
 
Whiteguy
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Re: CANADA JETLINES getting ready to fly

Mon Oct 28, 2019 6:59 am

Not going to happen. Pretty sure they’re dead in the water. There’s been zero communication from them on their Twitter account since the end of August!
 
debonair
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Re: CANADA JETLINES getting ready to fly

Mon Oct 28, 2019 11:44 am

Blueknows wrote:
https://www.bloomberg.com/press-releases/2019-05-16/jetlines-announces-a-definitive-lease-agreement-with-smartlynx-for-two-airbus-a320-aircraft-in-line-for-december-launch

November 5th is next big update As planes will be arriving for inspection


Any more information regarding msn/registration available?! Will we see the first a/c in full livery?!
 
Blueknows
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Re: CANADA JETLINES getting ready to fly

Mon Oct 28, 2019 12:02 pm

I’ve been trying to find the msn numbers. The news feed said they hired a Canadian company to do painting

https://www.globenewswire.com/news-rele ... tions.html
 
jimbo737
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Re: CANADA JETLINES getting ready to fl

Mon Oct 28, 2019 2:24 pm

Blueknows wrote:
SmartLynx operates planes pilots/ In flight. They will work flights till they hire and train new crew.



There’s a lot more to running an airline than that, especially during peak traffic periods.

There was a very, very good reason why WS started up when it did and not a few weeks later. Even at that, WS had to delay their selling and wheels up launch by about 3 weeks from their preferred date, ie, in early rather than late Feb, during Canada’s bleak, dark winter. Jetballs hasn’t figured out very much in the 7 years it has taken them to get this far, starting with why WS purposely chose to launch in this period.

Jetballs has demonstrated a consistent and remarkable lack of strategic foresight, not to mention practical operating knowledge throughout their endless “launch” process.

Anyone who’s been around the business for a few decades in Canada can easily predict what’s going to happen to their operation, timed perfectly against the busiest travel days of the year since early August, at a time when there is zero excess capacity available in the market.

Let’s just say that the Canadian operating environment is a little less forgiving than Mexico’s or Southern Europe’s in mid December.

The headlines and fallout is predictable.

It’s stunning that the jetballs brain trust have yet to figure this out. The only reason they’d inflict this on themselves is a lack of insight in the Cdn market, combined with a dire shortage of operating capital, which we all know to be the case. The larger question is why they’ve been unable to raise sufficient funds to launch after 7, yes 7 years of trying.

It’s a circular argument, but, again, they’ve yet to figure this out.
 
Blueknows
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Re: CANADA JETLINES getting ready to fly

Mon Oct 28, 2019 3:45 pm

Not every business is cut and dry. It’s been through a lot of CEOs. They were good to launch about a year ago, and then LUCAS JOHNSON left. Have you heard of a new airline starting up in US? it’s code name is MOXY. He was asked to help do route planning for them. So they had to start over again. They are trying to create A ULCC. They are also doing it unlike its ever been done in CANADA. So I can see how it’s been difficult.
 
Dominion301
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Re: CANADA JETLINES getting ready to fl

Mon Oct 28, 2019 4:18 pm

jimbo737 wrote:
Blueknows wrote:
SmartLynx operates planes pilots/ In flight. They will work flights till they hire and train new crew.



There’s a lot more to running an airline than that, especially during peak traffic periods.

There was a very, very good reason why WS started up when it did and not a few weeks later. Even at that, WS had to delay their selling and wheels up launch by about 3 weeks from their preferred date, ie, in early rather than late Feb, during Canada’s bleak, dark winter. Jetballs hasn’t figured out very much in the 7 years it has taken them to get this far, starting with why WS purposely chose to launch in this period.

Jetballs has demonstrated a consistent and remarkable lack of strategic foresight, not to mention practical operating knowledge throughout their endless “launch” process.

Anyone who’s been around the business for a few decades in Canada can easily predict what’s going to happen to their operation, timed perfectly against the busiest travel days of the year since early August, at a time when there is zero excess capacity available in the market.

Let’s just say that the Canadian operating environment is a little less forgiving than Mexico’s or Southern Europe’s in mid December.

The headlines and fallout is predictable.

It’s stunning that the jetballs brain trust have yet to figure this out. The only reason they’d inflict this on themselves is a lack of insight in the Cdn market, combined with a dire shortage of operating capital, which we all know to be the case. The larger question is why they’ve been unable to raise sufficient funds to launch after 7, yes 7 years of trying.

It’s a circular argument, but, again, they’ve yet to figure this out.


The chances of Jetlines launching on December 17, 2019 at this point is virtually zero...or guaranteed suicidal if they did. A more realistic date would be February 29, 2020...maybe to coincide with a certain 'caring' airline's 6th (x 4 = 24th) birthday. :stirthepot:
 
jimbo737
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Re: CANADA JETLINES getting ready to fly

Mon Oct 28, 2019 5:41 pm

I doubt they'd be smart enough to connect those dots, or dumb enough to throw down the gauntlet.

An interesting thought , though.
 
wrongwayup
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Re: CANADA JETLINES getting ready to fly

Mon Oct 28, 2019 10:12 pm

Boom goes the dynamite:

Jetlines loses SmartLynx and InHarv investments, postpones launch and reduces its activity until the Competition Bureau finalizes its WestJet investigation

VANCOUVER, British Columbia, Oct. 28, 2019 (GLOBE NEWSWIRE) -- Canada Jetlines Ltd. (JET: TSX-V; JETMF: OTCQB) (the “Company” or “Jetlines”) postpones launch date until Competition Bureau defines its position.

The Company advises that it has not satisfied the financing condition to secure $40 million in financing in addition to the funds committed by SmartLynx. As a result, SmartLynx and InHarv ULCC Growth Fund have exercised their rights to terminate their investment commitments. The Dec 17, 2019 Launch date will need to be postponed and the Company will not pay additional deposits and will therefore not receive their first two Airbus 320 it has planned to receive in November this year. No further date will be announced until funding is secured.

One of the principal concerns encountered by Jetlines team while engaging with investors is that they believe the existing dominant members of Canada’s aviation duopoly will react very aggressively once the company starts operations, and in fact have already done so in anticipation of Jetlines entry into the market. Specifically, Jetlines retained market analysis experts that concluded there is ample evidence to state that:

Swoop is pricing lower than other airlines, and significantly lower than the other ULCC entrant serving Canadian and transborder passengers;

Empirical evidence suggests that Swoop is pricing below avoidable costs on the routes identified by the Competition Bureau in their current investigation;

Empirical evidence suggests that Swoop is pricing below avoidable costs on routes other than those identified by the Competition Bureau in their current investigation;

Qualitative analysis of changes in service illustrates Swoop / WestJet’s rapid increase in capacity beyond what economic sense might dictate;

After Flair discontinued service to and from Hamilton, ON, Swoop maintained higher prices on the routes where Flair discontinued service than their other routes; and

Although Jetlines’ avoidable costs will be lower than Swoop’s, empirical evidence suggests that Swoop is pricing below Jetlines’ avoidable costs as well — and is attempting to deter entry by Jetlines on its proposed routes.
In the opinion of Jetlines management and its retained experts, the above factors all amount to an abuse of dominance. Senior representatives from the Company’s management team made multiple appearances before the Competition Bureau between January and July 2019.

An Air Protest was staged in the month of July to motivate the Competition Bureau to define its position on the current investigation the Bureau is conducing on WestJet and Swoop. The Company believes further consolidation in the Canadian Airline Industry is making the market opportunity even bigger and has confidence in raising the money once there is a firm position by the Competition Bureau.

In order to conserve cash, the Company will lay off most employees except for a core team lead by the Executive Chairman who will continue meeting with investors trying to secure financing. The Company intends to rehire employees again once proper funding has been secured. In addition, the Company’s CEO, Mr. Javier Suarez, has tendered his resignation effective immediately. The Company will begin the process to identify a replacement CEO. Mr. Zygimantas Surintas has also tendered his resignation as a director of the Company.

Most contracts signed for airline systems have been put on hold and will be ready to be restarted once the airline is ready to launch. Similarly, all the manuals that have been submitted to Transport Canada in order to obtain the Airline Operators Certificate will be kept and updated as required.

Mark Morabito, Executive Chairman comments, “It is very unfortunate that we have to postpone our launch date. We have built as much as anybody can without access to more capital. We have invested in bringing on board the most talented people who have done an incredible job putting together our operations manuals and systems, our brand, website and all other commercial components needed for launch.”

The Company also confirms that, further to its press release of October 8, 2019, the total amount of debt settled through the issuance of 738,094 shares is $195,595.



https://web.tmxmoney.com/article.php?ne ... symbol=JET
 
AC77X
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Re: CANADA JETLINES getting ready to fly

Mon Oct 28, 2019 10:15 pm

Well there goes their planes... What will they do now?
 
sunking737
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Re: CANADA JETLINES getting ready to fly

Tue Oct 29, 2019 12:27 am

Merge with Flair...
"Don't believe it unless its parked on the ramp, or printed in the schedule...SUBJECT TO CHANGE"

I'm a SUNDUCK......Worked for RC & SY @ MSP
 
jimbo737
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Re: CANADA JETLINES getting ready to fly

Tue Oct 29, 2019 12:58 am

The latest plan is to hope the Competition Bureau comes to their rescue.

News Flash: That's highly unlikely. Swoop's fully allocated casm, with a 1,100 mile asl, exclusive of fuel, is quite comfortably somewhere between c$ 6.2 and 6.5 cents.

That cost structure, together with fares and ancillary revenue, makes Swoop a solidly profitable operation, (note that WJ reported a 3Q 13.5% operating margin, inclusive of Swoop, today).

It's not easy sell below cost, as Jetballs alleges, and make 13.5% margins.

It's only a matter of time before Jetballs current management team jumps ship and moves off to more viable career options.

Going nowhere at warp factor 9......
 
Dominion301
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Re: CANADA JETLINES getting ready to fly

Tue Oct 29, 2019 1:53 am

jimbo737 wrote:
I doubt they'd be smart enough to connect those dots, or dumb enough to throw down the gauntlet.

An interesting thought , though.


Touché. I’ll definitely give you that.

I still hope they launch, but only if they can do so competently and with at least $50 million in the bank to get through the early lean months.

Having said that, what’s transpired today makes that prospect a lot less likely. Given how Enerjet with Indigo Partners have been absolutely silent for months, makes one wonder if they have been biding their time for Jetlines’ hype to fizzle out so that they can make their grand entrance?
 
boeing767300
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Re: CANADA JETLINES getting ready to fly

Tue Oct 29, 2019 3:30 am

That’s all folks! It was never going to happen anyway,

Canada Jetlines Ltd. is postponing its planned December launch and laying off most employees after failing to secure $40 million in required financing and losing investment partners.

The company says the Dec. 17 startup of the ultra-low-cost airline will be delayed to an undisclosed date and it will not pay additional deposits to receive the first two Airbus 320 planes next month.

Jetlines says it couldn't satisfy financing conditions in addition to funds committed by SmartLynx. As a result SmartLynx and InHarv ULCC Growth Fund have exercised their rights to terminate their investment commitments.

The company says it has been difficult to engage investors because they believe WestJet Airlines, which owns discount carrier Swoop, will "react very aggressively once the company starts operations, and in fact have already done so in anticipation of Jetlines' entry into the market."

As a consequence, it plans to reduce activities until the Competition Bureau finalizes its investigation into WestJet actions.
 
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cirrusdragoon
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Re: CANADA JETLINES getting ready to fly

Tue Oct 29, 2019 4:41 am

boeing767300 wrote:
That’s all folks! It was never going to happen anyway,

Canada Jetlines Ltd. is postponing its planned December launch and laying off most employees after failing to secure $40 million in required financing and losing investment partners.

The company says the Dec. 17 startup of the ultra-low-cost airline will be delayed to an undisclosed date and it will not pay additional deposits to receive the first two Airbus 320 planes next month.

Jetlines says it couldn't satisfy financing conditions in addition to funds committed by SmartLynx. As a result SmartLynx and InHarv ULCC Growth Fund have exercised their rights to terminate their investment commitments.

The company says it has been difficult to engage investors because they believe WestJet Airlines, which owns discount carrier Swoop, will "react very aggressively once the company starts operations, and in fact have already done so in anticipation of Jetlines' entry into the market."

As a consequence, it plans to reduce activities until the Competition Bureau finalizes its investigation into WestJet actions.


site source please
 
 
abrelosojos
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Re: CANADA JETLINES getting ready to fly

Tue Oct 29, 2019 7:18 am

Finally, it is public. I have always been amused by this airline, and never quite understood Javier as a choice to lead anything!

Saludos,
Alex
Live, and let live.
 
Blueknows
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Re: CANADA JETLINES getting ready to fly

Tue Oct 29, 2019 2:04 pm

Just checked looks like this could all be a house of cards. Mr Mark Morabito(executive chairmen) might be running a huge pozie scheme. Will see how this plays out
 
Jetsouth
Posts: 369
Joined: Sun Nov 27, 2016 12:59 pm

Re: CANADA JETLINES getting ready to fly

Tue Oct 29, 2019 2:27 pm

I think its over for Canada Jetlines. I mean...if they cannot even secure financing for their first two (used) planes. Yes, of course they say their start will be delayed....like forever... California Pacific also said earlier this year they would be back in the air...by last Spring.....haven't heard a word from them since. And Baltia Air (aka US Global) has been saying for over 30 years now that they will be flying any day now....
 
jimbo737
Posts: 524
Joined: Mon Jan 18, 2016 12:18 am

Re: CANADA JETLINES getting ready to fly

Tue Oct 29, 2019 2:46 pm

The investment Jetballs had was foreign. Given the 49% foreign ownership threshold, it was always contingent on the company being able to secure the other side of the investment equation, ie 51% domestic funding within some sort of reasonable time frame.

I’ll bet the two foreign sources of equity or “in lieu of equity” had enough of the endless promises of some sort of domestic angel investor and after patiently waiting for a year or more, simply pulled the ‘chute.

I doubt it’s a coincidence that Jetballs announced just a day or two ago that they had the two Smartlynx birds in the barn and were proceeding with a very ill advised Dec 18 launch, less than two months from now. I can’t say whether or not that was a rather optimistic assessment of reality, or unmitigated BS, but either way, it was likely the last straw for the contingently committed foreign investors.

After more than 7 years of trying, Jetballs is back at square one, and yet still positioning a launch, (with no capital, no executive team and no employees), as being simply “postponed”.

It would appear Mohammed Saeed al-Sahhaf, (known to most students of history as Baghdad Bob), has a new gig as the spokesman for Jetballs.
 
Jetsouth
Posts: 369
Joined: Sun Nov 27, 2016 12:59 pm

Re: CANADA JETLINES getting ready to fly

Tue Oct 29, 2019 2:50 pm

OK, so they are now an "airline" with planes no longer coming, staff laid off, no money, and it sounds like no business plan, as they are scared petrified of competition from Swoop....sounds like a plan that will attract investors.
 
Blueknows
Topic Author
Posts: 414
Joined: Fri Oct 19, 2018 3:31 am

Re: CANADA JETLINES getting ready to fly

Tue Oct 29, 2019 5:28 pm

The only hope is someone buys enough dead shares on the market. Anyone want and airline idea on the cheap. Think it’s down to 2 cents a share.
 
robsaw
Posts: 442
Joined: Sun Dec 28, 2008 7:14 am

Re: CANADA JETLINES getting ready to fly

Tue Oct 29, 2019 7:41 pm

https://biv.com/article/2019/10/canada- ... stors-bail

"Swoop president Steven Greenway told BIV in late January that he was not concerned about looming competition from Jetlines.

“For me, they’ll become serious when they launch,” he said. “Until they actually start flying, it is a moot point for me.”"
 
Dominion301
Posts: 2761
Joined: Wed Jul 20, 2016 1:48 pm

Re: CANADA JETLINES getting ready to fly

Tue Oct 29, 2019 7:49 pm

So now it's over to Enerjet and Indigo. Enerjet has WS 'founding fathers' while Indigo is highly respected. Let's see what materializes there in the coming months!
 
robsaw
Posts: 442
Joined: Sun Dec 28, 2008 7:14 am

Re: CANADA JETLINES getting ready to fly

Tue Oct 29, 2019 7:51 pm

Blueknows wrote:
The only hope is someone buys enough dead shares on the market. Anyone want and airline idea on the cheap. Think it’s down to 2 cents a share.


Still overpriced for the carcass that remains. Heavy trading volume on a massive share value drop.
 
jimbo737
Posts: 524
Joined: Mon Jan 18, 2016 12:18 am

Re: CANADA JETLINES getting ready to fly

Tue Oct 29, 2019 9:11 pm

Dominion301 wrote:
So now it's over to Enerjet and Indigo. Enerjet has WS 'founding fathers' while Indigo is highly respected. Let's see what materializes there in the coming months!


Enerjet has one of four "founding fathers.

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