Provided by Canada Jetlines/Globe Newswire

VANCOUVER, British Columbia, Feb. 04, 2019 (GLOBE NEWSWIRE) — Canada Jetlines Ltd. (JET: TSX-V) (JETMF: OTCQB) (the “Company” or “Jetlines”) is pleased to announce an agreement with Global Aviation Services, Inc. (“Global Aviation”) for ground handling services.

Global Aviation, headquartered in Mississauga, Ontario, is an aviation services company that offers a full suite of services including ground handling, aircraft detailing, flight supervision and management, mobility assistance, ticketing, and cabin cleaning. With continued growth planned for 2019, there are currently 45 airlines and 12 airports in Canada and the US combined that are partnered with Global Aviation for their passenger, baggage, and load-control services.

Global Aviation is expected to provide Jetlines with safe, quality, on-time and environmentally conscientious service. Their Customer Service Agents (“CSA”) are all highly trained with exemplary people skills, technical proficiency and a total accountability “CAN-DO” attitude –ensuring the ultimate in customer experience of their clients and guests. Global Aviation is well-known for its delivery of quality check-in and boarding services, centralized baggage tracing and, creating the jet bridge connection to the aircraft – services that are all important to Jetlines’ operational plans and will help ensure strong on-time performance.

Chief Operating Officer, Michael Bata, commented, “We are very excited to partner with Global Aviation for our ground handling needs. One of Jetlines’ core values, along with maintaining cost control as Canada’s first ULCC, will be providing our passengers with a pleasant experience from start to finish and Global Aviation, along with their team members, will be an integral part of that experience on both fronts.”

“We at Global are excited to receive the multi-city award and welcome Canada Jetlines to the Global Family. Global Aviation Services will provide Canada Jetlines with ground handling services at locations across North America,” stated Global Aviation Services President and CEO Carm Borg. “It’s truly exciting to have two Canadian companies partnering together to serve the people of Canada,” Mr. Borg added.

Provided by Canada Jetlines/Globe Newswire

VANCOUVER, British Columbia, Jan. 29, 2019 (GLOBE NEWSWIRE) — Canada Jetlines Ltd. (JET: TSX-V) (JETMF: OTCQB) (the “Company” or “Jetlines”) is pleased to announce it intends to provide future service to several sun destinations in the Dominican Republic including Puerto Plata, Samaná, and Santo Domingo.

Jetlines has reached an agreement with Aeropuertos Dominicanos Siglo XXI (“Aerodom”) to provide future service to Puerto Plata’s Gregorio Luperón International Airport (POP) and the Samaná El Catey International Airport (AZS), or Santo Domingo Airport (SDQ). Aerodom manages and operates several airports in the Dominican Republic, servicing an average of over 5 million passengers travelling to 58 cities around the world annually.

Jetlines CEO, Javier Suarez commented, “We are very excited to announce future service to these destinations. Adding these Caribbean airports to our network will enable Canadian’s to travel affordably during the cold winter season. Our very low fares will allow our customers to visit these destinations at a very low cost. Dominican Republic is one of the fastest-growing and most-visited tourist destinations in the Caribbean and the diverse geography, rich culture, and warm hospitality make it an attractive vacation spot for many Canadians.”

“We are delighted to enter into a partnership with Canada Jetlines, which will allow more Canadian tourists to visit the nearly 1,000 miles of coastline, magnificent resorts and hotels, and a variety of sports, recreation and entertainment options that the Dominican Republic has to offer. Without a doubt all our visitors will have a wonderful time in Samaná, Puerto Plata and Santo Domingo. Aerodom will continue to work to provide passengers with the best airport experience and to continuously have more routes served and more airlines operating at our airports.” said Alvaro Leite, Chief Commercial Officer, Aerodom.

The Company’s ability to service these routes is subject to the completion of the airline licensing process and the receipt of applicable regulatory approvals. The exact arrival and departure airports for routes to the Dominican Republic will be determined once regulatory approvals are received.

Provided by Canada Jetlines

January 21, 2019

VANCOUVER, BRITISH COLUMBIA, Canada Jetlines Ltd. (JET: TSX-V) (the “Company” or “Jetlines”) is pleased to announce the appointment of Mr. Zygimantas Surintas, CEO of SmartLynx Airlines SIA (“SmartLynx”), to Jetlines’ board of directors.

Mr. Surintas has over eight years of executive experience with commercial businesses in North America and Europe combined. Since June 2016, he has held the position of CEO and Director of SmartLynx. As part of his leadership at SmartLynx, Mr. Surintas oversees the company performance and strategy to maintain its status as Europe’s leading ACMI operator. Mr. Surintas joins the Board following the closing of the initial $7.5 million SmartLynx private placement (see press release dated December 27, 2018).

“We recognize and greatly appreciate the continued confidence and support shown by SmartLynx. I am confident that Mr. Surintas will help Jetlines’ board and senior management to realize more outstanding achievements for our current shareholders and stakeholders,” commented Executive Chairman, Mark Morabito.

Zygimantas Surintas stated, “I see a wide range of opportunities for Jetlines and I am excited about my role as the Company’s newest board member. There is significant opportunity in the Canadian market and SmartLynx is committed to a long-term partnership with Jetlines. I will be working closely with the Jetlines team to continue to deliver on the Company’s mission to operate ultra-low cost flights throughout Canada, the US, Mexico, and the Caribbean.”

Provided by Canada Jetlines

17 January 2019 – Canada Jetlines Ltd. (TSX-V:JET) (the “Company” or “Jetlines”) is pleased to announce it intends to provide future service to several sun destinations in Mexico including Puerto Vallarta, Los Cabos, and Cancun.

Jetlines has reached agreements with both Grupo Aeroportuario del Pacífico (NYSE: PAC) (“GAP”) to provide future service to the Puerto Vallarta International Airport (PVR) and the Los Cabos International Airport (SJD) as well as Grupo Aeroportuario del Sureste (NYSE: ASR) (“ASUR”) to provide future service to the Cancun International Airport (CUN). Puerto Vallarta, Los Cabos, and Cancun are some of Mexico’s top tourism destinations for Canadians with nearly two million passengers travelling from Canada down to Mexico every year, with the numbers continually rising.

CEO Javier Suarez commented, “We are thrilled to announce future service to these airports. I have worked in this market extensively and have a deep understanding of how to operate successful routes in and out of Mexico. We look forward to providing Canadians with ultra-low fares for their vacation plans. With the money saved, Canadians will have the ability to spend more at their destinations; staying longer or in nicer resorts with their friends and family members. Our low fares will also encourage Mexicans to visit beautiful Canada.”

GAP’s CEO Raul Revuelta commented, “We at GAP are pleased to welcome Jetlines at our Puerto Vallarta and Los Cabos airports. During 2018, for the first time in history, we received a combined traffic of 10 million passengers at both airports; this due to the growing number of hotel rooms and the high quality of the touristic products offered at these amazing destinations. I am sure that our Canadian friends will have a wonderful time while visiting Puerto Vallarta and Los Cabos, and we at GAP will continue to work to provide them with the best airport experience.”

ASUR’s Customer and Route Development Director Alejandro Vales commented, “ASUR is delighted to welcome Jetlines to our Cancun airport. A brand-new Canadian airline bridging new origins from Canada to our world-class destination will be a recipe for success indeed.”The Company’s ability to service these routes is subject to the completion of the airline licensing process and the receipt of applicable regulatory approvals.

Provided by Canada Jetlines/Globe Newswire

VANCOUVER, British Columbia, Jan. 15, 2019 (GLOBE NEWSWIRE) — Canada Jetlines Ltd. (JET: TSX-V) (the “Company” or “Jetlines”) is pleased to announce an agreement with Revenue Management Systems, Inc. (“RMS”), an Accelya Group Company, for the airRM software (“airRM”).

RMS serves over 90 carriers worldwide including ultra-low cost carriers such as RyanAir, VivaAerobus, Tigerair, and AirAsia. Their airRM tool is a continually evolving airline revenue management system with ground-breaking tools that integrate and display a wealth of critical information from multiple sources, enabling airlines to make better and more profitable decisions. RMS is owned by Accelya, a leading provider of technology products and services to over 400 travel carriers around the world. airRM operates in real-time, giving Jetlines the ability to shift and react based on market influences or any other variable that may impact Jetlines’ profitability.

Jordi Porcel, Chief Sales, Marketing, and Customer Experience Officer commented, “With price being one of the most important aspects of our model, airRM was a natural choice based on their state-of-the-art platform. It will allow us to identify and leverage revenue opportunities and have tight control on our pricing while staying nimble. It is important to us, and to our future passengers, that we can offer the right fare for each seat on every flight.” CEO Javier Suarez added, “This marks another important commercial milestone needed as we get closer to launching operations this coming summer. Maximizing our revenue and load factors is critical to the commercial department.”

“We are very pleased to welcome Canada’s newest ultra-low cost carrier, Jetlines, to the growing list of airlines throughout the world that use airRM to maximize their revenue,” said Ben Druce, Vice President, Sales and Account Management – Americas. “For start-up airlines, the ability to react quickly to competitors, while easily implementing pricing and inventory strategies, is critical. airRM is the only RM solution in the market today that can effectively support Jetlines as it launches into the dynamic and competitive Canadian marketplace.  With its robust suite of modern and sophisticated inventory control methodologies, reporting tools and analytical modules, airRM will provide Jetlines the power to be nimble and achieve their revenue management goals.”

Provided by Canada Jetlines Ltd/Globe Newswire

VANCOUVER, British Columbia, Jan. 08, 2019 (GLOBE NEWSWIRE) — Canada Jetlines Ltd. (JET: TSX-V) (the “Company” or “Jetlines”) is pleased to announce the appointment of Mr. Jordi Porcel as Chief Sales, Marketing, and Customer Experience Officer.

CEO Javier Suarez commented, “I am thrilled to welcome Jordi to the Jetlines team as we build out our commercial department. Jordi’s extensive experience working for fast-growing low-cost carriers, as well as his vocation to design and deliver the best customer experience, is fantastic news for Jetlines.”

Javier Suarez and Mr. Porcel worked together at Vueling from 2012 and 2014. Mr. Porcel was then Vueling’s Chief Sales Officer. Together, they helped Vueling expand rapidly and profitably in Europe going through the global financial crisis. Mr. Porcel was responsible for all non-direct sales, accounting for 57% of Vueling’s revenue totalling approximately €700 million. During his tenure, Mr. Porcel led the study, design and initial work on a new platform to manage group booking requests for the airline, including tour operators and charter business. In addition, he streamlined processes between key commercial departments for more efficient and cost-effective day-to-day operations.

More recently, reporting to the Chief Executive Officer, Mr. Porcel was the head of Europe at Air Arabia, a fast growing and profitable low-cost carrier. Mr. Porcel was responsible for implementing the Company’s strategic sales, marketing and communication initiatives in Europe. During his tenure, Mr. Porcel helped grow the European business by 26%. Prior to his role at Air Arabia, Mr. Porcel was the General Manager of Spain at Etihad Airways from 2014 to 2016. He was responsible for initiating Etihad’s operations in Spain and accountable for managing all commercial activities in the new region. From 1988 to 2011, Mr. Jordi Porcel worked at British Airways where he held progressively senior positions, ultimately holding the position of Regional Commercial Manager for Spain, Portugal, and Latin America leading the integration of the Commercial teams with Iberia, after the merge of the two companies under the IAG Holding.

Mr. Porcel holds an AMP (Advanced Management Program) from IESE Business School – Universidad de Navarra in Barcelona, an Executive MBA from IE Instituto de Empresa in Madrid, a BA from WITS University in Johannesburg, and a Commercial and Marketing degree from ESEM School in Madrid. He also studied at the IBM Business School in London.

In connection with his appointment, Mr. Porcel will be granted 250,000 Restricted Share Units (“RSUs”). The RSUs vest over a three-year period from the date of grant, with one third vesting at the end of each year during the three-year period.

About Canada Jetlines Ltd.

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, the most widely used aircraft for ultra-low cost carriers worldwide. 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.

For more information on Jetlines, please visit our website at www.jetlines.ca.

ON BEHALF OF THE BOARD

“Mark J. Morabito”
Executive Chairman

Canada Jetlines is part of the King & Bay group of companies. King & Bay is a merchant bank that specializes in identifying, funding, developing and supporting growth opportunities in the resource, aviation, and technology sectors.

For more information, please contact:
Toll Free: 1-833-226-5387
Email: investor.relations@jetlines.ca

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” concerning anticipated developments and events that may occur in the future. Forward-looking information contained in this news release includes, but is not limited to, statements with respect to the commencement of operations and the success of expected future operations of the Company.

In certain cases, forward-looking information can be identified by the use of words such as “plans”, “expects” “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or ” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things the receipt of financing to commence airline operations, the accuracy, reliability and success of the Jetlines’ business model; the timely receipt of governmental approvals; the timely commencement of operations by Jetlines and the success of such operations; the legislative and regulatory environments of the jurisdictions where the Jetlines will carry on business or have operations; the impact of competition and the competitive response to the Jetlines’ business strategy; and the availability of aircraft. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, future relations with SmartLynx, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement Jetlines’ operational strategy, the ability to attract qualified management and staff, labour disputes, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; risks related to disputes under the agreement with Boeing to acquire 737-Max aircraft, and the additional risks identified in the “Risk Factors” section of the Company’s reports and filings with applicable Canadian securities regulators.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release. 

Provided by Canada Jetlines

December 27, 2018, Canada Jetlines Ltd. (JET: TSX-V) (the “Company” or “Jetlines”) is pleased to announce that further to its press release of November 27, 2018, it has closed a private placement with SmartLynx Airlines SIA (“SmartLynx”) pursuant to which it has sold an aggregate of 22,727,272 subscription receipts (each, a “Subscription Receipt”) at a price of $0.33 per Subscription Receipt (the “Offering Price”) for gross proceeds of $7.5 million (the “Offering”). Jetlines entered into a subscription agreement with SmartLynx for a financing of up to $15 million. With the closing of the initial $7.5 million, SmartLynx retains the option to acquire an additional $7.5 million of the Company’s shares at the maximum discounted market price permitted under TSX.V rules at the time the option is exercised.

In connection with the Offering, Jetlines Operations and SmartLynx also entered into an agreement whereby SmartLynx shall provide ACMI (Aircraft-Crew-Maintenance-Insurance) services to Jetlines Operations during the following eight winter seasons. This agreement will allow Jetlines to increase its fleet capacity in the market during the very busy Canadian winter season.  In addition, SmartLynx and the Company have entered into a two-year agreement that will provide Jetlines with services meant to support Jetlines during the early stage of their operations.

SmartLynx specializes in full-service ACMI (Aircraft-Crew-Maintenance-Insurance) aircraft lease services and is the leading ACMI provider in Europe for Airbus A320 aircraft. SmartLynx aircraft has been utilized by major airlines including Norwegian, EasyJet, Thomas Cook and TUI.

Executive Chairman, Mark Morabito stated, “I would like to thank the SmartLynx group and our entire operations, finance and legal team at Jetlines, led by CEO Javier Suarez, for their support and effort in achieving this significant corporate milestone. We look forward to working with SmartLynx and leveraging their knowledge and expertise as a seasoned European airline that flies aircraft for some of the most successful ultra-low-cost carrier airlines in the world.”

Details of the Offering

The Offering resulted in the issuance of 22,727,272 Subscription Receipts at the Offering Price, for gross proceeds of $7.5 million. The Subscription Receipts were issued pursuant to the terms of a Subscription Receipt Agreement (the “Subscription Receipt Agreement”) between the Company, SmartLynx and Computershare Trust Company of Canada (the “Escrow Agent”). SmartLynx also has the option exercisable for a period of twelve months following the closing of the Offering to complete a second financing for variable voting shares for additional gross proceeds of up to $7.5 million at the discounted market price at the time it exercises its option (the “Option”).

Each Subscription Receipt entitles SmartLynx to receive, without payment of additional consideration or further action on the part of the holder, one unit of the Company (each a “Unit” and collectively the “Units”), upon receipt by the Escrow Agent, prior to August 31, 2019 (the “Deadline”) of a release notice from the Company and SmartLynx (the “Release Notice”), confirming that: (a) the Company has raised additional gross proceeds of $40 million (the “Funding Milestone”) from a subsequent financing by May 31, 2019 (such completion date subject to waiver by SmartLynx); (b) the receipt by the Company’s subsidiary, Canada Jetlines Operations Ltd. (“Jetlines Operations”), of its air operator certificate from Transport Canada; and (c) no termination event has occurred.

Each Unit will consist of one variable voting share of the Company and one common share purchase warrant (each, a “Warrant”).  Each Warrant shall entitle the holder thereof to purchase one variable voting share of the Company at a price of $0.45 at any time up to 5:00 p.m. (Vancouver time) on the date which is 36 months from the closing date.

If: (i) the Release Notice is not delivered by the Deadline, or (ii) the Offering is terminated in accordance with the terms of the Subscription Receipt Agreement, then SmartLynx will be entitled to receive an amount per Subscription Receipt equal to the Offering Price and an entitlement to the interest earned thereon. Any shortfall will be funded by the Company. In addition, the Company is obligated to pay a termination fee of US$250,000 if the Company has not achieved the Funding Milestone by May 31, 2019 or commits certain other material breaches and SmartLynx terminates the Subscription Agreement.

The net proceeds of the Offering will be used to further the business objectives of Jetlines in launching an ultra-low cost airline carrier in Canada, including advancing the licensing process, augmenting the leadership team with operations and commercial personnel, branding and marketing activities, as well as advance internet, digital media, and IT systems initiatives.

It is expected that SmartLynx will become an insider of the Company on conversion of the Subscription Receipts. The Subscription Receipts, and any Units acquired on the conversion thereof, are subject to a statutory four month hold period expiring on April 22, 2019.

The Company, Jetlines Operations and SmartLynx also entered into a framework agreement (the “Framework Agreement”) that governs aspects of the relationship between the parties. The Framework Agreement covers matters including the right of SmartLynx to appoint a single Board member to the Company and Jetlines Operations, rights to participate on Board committees, arrangements regarding the review of aircraft leases, the grant of a pro-rata right to SmartLynx to participate in future financings and certain other rights detailing with operational and expenditure matters of the Company and Jetlines Operations.

News provided directly to Canadian Aviation News by Canada Jetlines Ltd

November 27, 2018 VANCOUVER, BRITISH COLUMBIA, Canada Jetlines Ltd. (JET: TSX-V) (the “Company” or “Jetlines”) is pleased to announce that it has entered into a subscription agreement (the “Subscription Agreement”) with SmartLynx Airlines SIA (“SmartLynx”) for financing commitments of up to $15 million (the “Offering”). SmartLynx specializes in full-service ACMI (Aircraft-Crew-Maintenance-Insurance) aircraft lease services and is the leading ACMI provider in Europe for Airbus A320 aircraft. SmartLynx aircraft has been utilized by major airlines including Norwegian, EasyJet, Thomas Cook and TUI.

“This financing transaction with SmartLynx provides further validation of the Jetlines business plan and the need for a true ultra-low cost carrier in Canada. This also provides endorsement from a seasoned European airline that flies aircraft for some of the most successful ultra-low cost carrier airlines in the world. We look forward to working with the SmartLynx group as we continue to build out the business plan in preparation for launch,” commented Mark Morabito, Executive Chairman of Jetlines.

Javier Suarez, CEO of Jetlines added “In addition to the great value added by the investment SmartLynx is making in Jetlines, having them as our partner brings in a good number of synergies that will translate into significant long-term operational savings. SmartLynx reputation and broad network will help Jetlines accomplish our near-term goals”.

Zygimantas Surintas, CEO of SmartLynx commented “Expansion of our operations into new markets is a strategic long-term priority for SmartLynx, and the Canadian market is among those we have been looking at for several years. We are excited about the opportunity for partnership with Jetlines – not only through SmartLynx’s investment but also through SmartLynx’s ability to contribute our years of experience in airline operations, aircraft leases, maintenance operations and other matters to help Jetlines succeed. The SmartLynx team believes in the ULCC model in Canada and hopes that it can play a part in bringing cheaper air travel to Canadians.”

Details of the Offering

The Offering will consist of 22,727,272 subscription receipts of the Company (“Subscription Receipts”) at a price of $0.33 per Subscription Receipt (the “Offering Price”), for gross proceeds of $7.5 million. The Subscription Receipts will be issued pursuant to the terms of a Subscription Receipt Agreement (the “Subscription Receipt Agreement”) between the Company, SmartLynx and an escrow agent. SmartLynx also has the option exercisable for a period of twelve months following the closing of the Offering to complete a second financing for variable voting shares for additional gross proceeds of up to $7.5 million at the discounted market price at the time it exercises its option (the “Option”).

Each Subscription Receipt will entitle SmartLynx to receive, without payment of additional consideration or further action on the part of the holder, one unit of the Company (each a “Unit” and collectively the “Units”), upon receipt by the escrow agent, prior to August 31, 2019 (the “Deadline”) of a release notice from the Company and SmartLynx (the “Release Notice”), confirming that: (a) the Company has raised additional gross proceeds of $40 million (the “Funding Milestone”) from a subsequent financing by May 31, 2019 (such completion date subject to waiver by SmartLynx); (b) the receipt by the Company’s subsidiary, Canada Jetlines Operations Ltd. (“Jetlines Operations”), of its air operator certificate from Transport Canada; and (c) no termination event has occurred.

Each Unit will consist of one variable voting share of the Company and one common share purchase warrant (each, a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one variable voting share of the Company at a price of $0.45 at any time up to 5:00 p.m. (Vancouver time) on the date which is 36 months from the closing date.

If: (i) the Release Notice is not delivered by the Deadline, or (ii) the Offering is terminated in accordance with the terms of the Subscription Receipt Agreement, then SmartLynx will be entitled to receive an amount per Subscription Receipt equal to the Offering Price and an entitlement to the interest earned thereon. Any shortfall will be funded by the Company. In addition, the Company is obligated to pay a termination fee of US$250,000 if the Company has not achieved the Funding Milestone by May 31, 2019 or commits certain other material breaches and SmartLynx terminates the Subscription Agreement.

The net proceeds of the Offering will be used to further the business objectives of Jetlines in launching an ultra-low cost airline carrier in Canada, including advancing the licensing process, augmenting the leadership team with operations and commercial personnel, branding and marketing activities, as well as advance internet, digital media and IT systems initiatives.

It is expected that SmartLynx will become an insider of the Company on conversion of the Subscription Receipts.

Details of the Commercial Arrangement

In connection with the Offering, Jetlines Operations and SmartLynx will enter into an agreement whereby SmartLynx shall provide ACMI (Aircraft-Crew-Maintenance-Insurance) services to Jetlines Operations during the following eight winter seasons. This agreement will allow Jetlines to increase its capacity in the market during the very busy Canadian Winter Season. In addition, SmartLynx and the Company will enter into a two-year agreement that will provide Jetlines with services and certain proprietary software meant to support Jetlines during the early stage of their operations.

The Company, Jetlines Operations and SmartLynx will also enter into a framework agreement (the “Framework Agreement”) in connection with the closing of the Offering that will govern aspects of the relationship between the parties. The Framework Agreement will cover matters including the right of SmartLynx to appoint a single Board member to the Company and Jetlines Operations, rights to participate on Board committees, arrangements regarding the review of aircraft leases, the grant of a pro-rata right to SmartLynx to participate in future financings and certain other rights detailing with operational and expenditure matters of the Company and Jetlines Operations.

The closing of the Offering is conditional on the satisfaction of conditions to closing contained in the Subscription Agreement, which conditions include, among other things, approval of the TSX Venture Exchange for the Offering and the execution of the Subscription Receipt Agreement and the execution of the agreements referred to above. It is expected that the Offering will close on or before December 24, 2018.

News provided by Canada Jetlines Ltd

November 14, 2018  Canada Jetlines Ltd. (TSX-V: JET) (the “Company” or “Jetlines”) is pleased to announce the appointment of Alan Bird to Jetlines’ Board of Directors serving as well as a special advisor to the CEO. Alan has more than 25 years of airline finance experience including executive tenure with VivaAerobus, Tiger Airways, and British Midland.

Mr. Bird most recently served as Chief Financial Officer for Mexico’s fastest growing ULCC air carrier, VivaAerobus.  During his tenure as CFO Alan helped create the lowest cost airline in North America.  Mr. Bird was responsible for the purchase agreement for 52 new Airbus 320, the largest deal recorded at that time by a Latin American airline. In addition, he successfully raised MXN$1billion of fiduciary certificate debt finance as a part of an acquisition program.

Prior to VivaAerobus, Mr. Bird served as Chief Financial Officer and board member for Tiger Airways Singapore. In this role, he initiated the IPO process that realized significant gains for shareholders and was instrumental in establishing sound financial practices for the start up of a subsidiary airline in Australia. From 1997 to 2007, Mr. Bird held the role of Finance Director to British Midland International and was responsible for the overall financial management and procurement function for the BMI Group of Companies. Mr. Bird was part of the team in the deal that secured an exit for shareholders at a valuation of £500 million when the airline was sold to Lufthansa.

Mr. Bird currently serves as an advisor to Irelandia Aviation, the world’s premier low-cost carrier developer. Irelandia initiates, develops and delivers successful low-cost carriers in partnership with airline management and investors. Irelandia has successfully developed five low cost carriers to date – Ryanair in Europe, Tiger Airways in Asia, Allegiant in the USA, VivaAerobus in Mexico and VivaColombia in Colombia. Mr. Bird is an Advisor to Viva Air, VivaColombia, and Viva Peru on financial matters including aircraft acquisition and the development of joint ventures for engineering and maintenance initiatives.

In addition to his role as a director, Mr. Bird will serve as Special Advisor to the CEO. Commenting on his appointment Allan Bird said, “I am very pleased to join my former colleague from VivaAerobus, Javier Suarez, to build Canada’s first true ULCC; the opportunity in Canada remains very exciting. Javier is building a solid team having recently added seasoned ULCC operator Michael Bata as COO and I am looking forward to working with Javier to continue the build out of the airline”.

CEO, Javier Suarez commented, ‘I am excited with the opportunity to work with Alan again. He played a key role helping VivaAeorbus become the lowest cost airline in America. His experience and support will help us progress in the right direction to soon become the lowest cost airline in Canada.

Executive Chairman, Mark Morabito commented, “I am thrilled to announce Alan’s appointment to the Board, and as a Special Advisor to our CEO. Alan’s experience is invaluable for Jetlines as we advance towards commercial operations and are engaged in the financing process for the Company. Alan is a highly qualified finance and procurement professional and his track record of increasing and realizing shareholder value and strategic planning will add significant bench strength to our already talented Board.”

Alan Bird is a Chartered Accountant and holds an honours degree in Mathematical Economics from Birmingham University.

Jetlines has granted a total of 225,000 stock options to Mr. Bird in his role as a director. The stock options have been issued for a five-year term, with one quarter vesting every six months from the date of grant.