19 March, 2024
One A320-200 arrives for Canada Jetlines
30 September, 2023
Canada Jetlines gets another $13.5 Million in equity financing
16 August, 2023
Canada Jetlines releases second quarter results...
Total operating expenses for the quarter were $9.23 million as compared to $8.15 million in the previous quarter, an increase of 13%. Increases were primarily driven by increased flying activity.
Total assets increased to $27,860,429 at the end of the current quarter from $27,289,573 as at December 31, 2022. The minor increase in total assets is primarily attributable to an increase in current assets that was partially offset by a decrease in Right-of-use assets due to depreciation.
Total liabilities increased to $33,753,436 at the end of the current quarter from $28,948,171 as at December 31, 2022. The increase was made up of the liabilities associated with an increase in deferred revenue and an increase in accounts payable and accrued liabilities, explained by the timing of payments and invoices received at the end of the period.
08 July, 2023
Canada Jetlines agrees charter deal with FlyAllways to provide a weekly service from Toronto to Guyana
29 June, 2023
Canada Jetlines increases flight hours during the second quarter.
06 June, 2023
Canada Jetlines signs deal to provide aircraft and crew to Canadian CFL team Toronto Argonauts......
16 May, 2023
Canada Jetlines net loss for first quarter 2023 was $3,618,816.
Canada Jetlines has released details of its first quarter 2023 interim financial results, which show the fledgling budget carrier's revenues were a surprising $5.1 million as compared to $3.2 million in the quarter that ended December 31, 2022.
09 May, 2023
Canada Jetlines signs deal with The International Student Identity Card (ISIC) Programme........Discounts for students....
29 April, 2023
Canada Jetlines Signs Contract with Additional Canadian CFL team Hamilton Tiger-Cats
16 April, 2023
Canada Jetlines announces third Airbus A320 Aircraft
02 April, 2023
Losses mount at Canada Jetlines.....
The budget carrier, Canada Jetlines has released its 2022 figures with show total operating revenues for the year were $3,326,824 as losses mount ever higher. The airline started operating scheduled flights from September 22, 2022, representing the firm's first revenues from the operation. During this period the Company operated charters and ACMI (Aircraft, Crew, Maintenance, and Insurance) flights generating $2.4 million, representing 72% of the total revenue for the year.
Summary of Annual Results
| December 31, 2022 | December 31, 2021 |
Revenue | $ 3,326,824 | $ - |
Income (loss) and comprehensive income (loss) | $ (13,438,121) | $ (3,100,717) |
Earnings (loss) per share (basic and diluted) | $ (0.22) | $ (0.07) |
Total assets | $ 27,289,573 | $ 5,236,914 |
Total liabilities | $ 28,948,171 | $ 1,068,599 |
28 March, 2023
Canada Jetlines leases aircraft out
13 February, 2023
Canada Jetlines announces another loan
The terms of the Loan include:The Loan will be advanced in a single tranche of $1,500,000 (“First Tranche”) following Neo Exchange Inc. approval;the Loan bears interest at the rate of 7.95% per annum and has a maturity date of 60 months from the date of advance;principal and interest amounts are payable in equal monthly installments for the term of the Loan plus an additional annual 10% principal repayment;no shares are issuable in connection with the Loan;the Lender is granted a Board nomination right to nominate an independent director for the term of the Loan;the Borrower shall pay the document closing costs of the Lender; andthe Loan is secured with a subordinate security interest against the Company’s credit card processor holdback funds.The Company intends to use the net proceeds of the Offering and the Loan for aircraft acquisition, general corporate and working capital purposes.
This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
09 February, 2023
The all-Canadian leisure airline, Jetlines has added Rossen Dimitrov to its Board of Directors, the firm confirmed this week.
The all-Canadian leisure airline, Jetlines has added Rossen Dimitrov to its Board of Directors, the firm confirmed this week. Mr Dimitrov is an experienced senior executive with over 20-years of experience in the airline industry and is presently employed as the Chief Officer Customer Experience at Qatar Airways. As the Chief Officer Customer Experience at Qatar Airways, Rossen is constantly challenging the status quo by building a customer-centric approach to delivering future-proof aircraft, lounge and airport interiors, technology-enabled experiences and new service concepts that are the foundation of the airlines' customer experience.