Canada Jetlines

On February 28, 2017, Canada Jetlines completed a business combination with Jet Metal. Until then, Canada Jetlines was a private company that had raised money over three years with the goal of becoming a ULCC. Jet Metal Corp. was a publicly listed company that was previously involved in mineral exploration, but had raised capital in 2014 to search for a new business opportunity. An IPO process is quite lengthy and expensive, so it is common in Canada for private corporations to obtain a public listing through a corporate transaction with an inactive listed company. A public listing was sought as it provides greater access to capital given the increased liquidity compared to a private corporation. The common shares of Canada Jetlines trades on the Toronto Stock Exchange – Venture Exchange ("TSXV") with the ticker symbol "JET", as well as on the OTCQB with the ticker symbol "JETMF".

In June 2016 the airline announced that it had asked the Canadian government to relax its legal requirement for Canadian airlines to have no more than 25% foreign ownership, allowing Canada Jetlines to seek foreign investment up to the level of 49% ownership.[8] On November 3, 2016, Transport Minister Marc Garneau approved Jetlines' request for exemption from the current foreign ownership rules, which allowed the airline to access necessary capital in order to begin operations.[9] The airline has one ownership member from Europe and a board made up of industry members from Europe and the United States.

On November 4, 2016, Canada Jetlines announced that it is planning to launch operations on strong primary and secondary routes by operating scheduled point-to-point jet air service. Jetlines plans to operate flights throughout Canada, the United States, Mexico, and the Caribbean. On May 8, 2018, Canada Jetlines announced that it would not be leasing two Boeing 737-800 aircraft as initially planned due to the lessor being unable to confirm a delivery date. Jetlines concluded a term sheet on April 23, 2018 to lease two Airbus A320 aircraft instead, and made a deposit payment of US$876,000.[10][11] On June 13, 2018, Jetlines announced that it had partnered with AerCap, an aircraft leasing and aviation finance company, to sign a Definitive Lease Agreement for two Airbus A320 aircraft. Delivery of the two aircraft was expected by the first half of 2019.[12] On April 4, 2019, Jetlines announced that it intends to launch operations in December 2019 and has subsequently withdrew from its leasing agreement with AerCap dated April 23, 2018. Jetlines intends to lease its initial aircraft with its partner, SmartLynx Airlines, with delivery of the aircraft occurring in Q4 2019.[13]

On April 3, 2019, Jetlines announced its anticipated launch of commercial service to be December 17, 2019 with Vancouver International Airport acting as Jetlines’ home base. Because of the company's progress, Jetlines and AerCap mutually agreed to cancel their agreement for two A320 leases. In place of that agreement, Jetlines signed a letter of intent with SmartLynx Airlines for two alternate Airbus A320 available for delivery in Q4 2019, which is in line with the planned commencement of the company's operations.[14]

On September 11, 2017, Canada Jetlines released a map of cities to which it intended to fly by April 2019.[15] As of February 2019, no announcement had been made regarding the start of service. Some airports have been confirmed, including Vancouver International Airport as the primary base of operations instead of Abbotsford International Airport.[16] Additional airport confirmations include Montréal's Saint-Hubert Airport,[17] Puerto Vallarta, Los Cabos, Cancun,[18] Dominican Republic,[19] Winnipeg, Kelowna,[20] and Québec City.[21]

• Official site