Canada's Jetlines has made significant advancements towards launching commercial airline operations, the airline said in a recent filing.
Commercial agreements have been concluded with airports, suppliers, service providers and other key stakeholders.
Jetlines has also made progress in the licensing process through the submission of operations manuals and licensing documents to Transport Canada and the Canadian Transportation Agency.
However, the completion of the financing required to launch airline operations remains critical to Jetlines continued advancement and launch, the airline said.
With regards to financing efforts, Jetlines is currently discussing the opportunity with a number of institutions whose investments would be sufficient to launch operations.
At this time, Jetlines’ partners at SmartLynx Airlines SIA and InHarv ULCC Growth Fund remain committed to seeing Jetlines through the financing process.
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.
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.