All indications are that Canada Jetlines will soon cease operations, following the resignations earlier this week of its interim CEO and three members of its board.
The latest departures marked the continuation of an exodus of senior staff from the carrier which was created in 2013 but didn’t make its first flight until 2022. Since then, Jetlines has flipped between scheduled, charter and ACMI operations, inaugurating and then dropping routes in search of a path to profitability.
Canada Jetlines showed off its first aircraft in 2022. (Photo Credit: Canada Jetlines first airline)
In a statement issued on August 12, Jetlines said:
“The continuing operations of the Company have been dependent upon the Company’s ability to raise adequate financing and to grow the airline to the point where it can commence profitable operations. The Company has historically financed its future requirements through a combination of debt, equity or other facilities. As a result, the Company will need to raise additional capital to continue operations.”
The Canada Jetlines fleet consists of just four A320 aircraft, which have spent the summer operating wet-lease flights In Europe and North Africa on behalf of Air Maroc and Corendon Dutch Airlines. In its initial projections, Jetlines planned to operate 15 aircraft by 2025.
Online aviation publication GateChecked.com is reporting that Canada Jetlines issued a memo to staff yesterday stating that the airline is expected to imminently announce a cessation of operations.
If Jetlines shuts down, it will be the second Canadian carrier to disappear from the skies this year, following the closure of Lynx Air in late February. That closure had more impact as Lynx was operating a fleet of nine Boeing 737 MAX 8 planes to 18 destinations in Canada, the U.S. and Mexico.
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