VANCOUVER, British Columbia, Feb. 06, 2018 (GLOBE
NEWSWIRE) -- Canada Jetlines Ltd. (TSX-V:JET)
(OTCQB:JETMF) (the “Company” or
“Jetlines”) is pleased to announce the appointment
of Tony Lefebvre as an independent director, effective February 5,
2018. Mr. Lefebvre brings over 27 years of executive experience,
including eight years with Spirit Airlines, a leading ultra
low-cost carrier based in the United States.
“Mr. Lefebvre is a welcome addition to the
board,” stated Mark Morabito, Executive Chairman of Canada
Jetlines. “His extensive experience in the ultra-low cost airline
industry will be invaluable to the company as we commence and grow
operations.”
Tony held progressively senior executive
positions with Spirit Airlines, most notably Chief Operating
Officer. He was responsible for Spirit Airlines operating functions
including: flight operations, maintenance, inflight, airport
operations, systems operations control, safety and security.
Tony was part of the senior management team that successfully
publicly listed the company on the NASDAQ and lead cost cutting
initiatives resulting in a sustained sub $0.06 CASM (Cost Per
Available Seat Mile). Prior to working with Spirit Airlines, Tony
worked with US Airways for 15 years as a Managing Director. In this
role he led US Airways’ European operations across 16 countries,
covering sales and marketing, 28 airport operations, call centres
sales and customer support, finance and alliance management.
Tony is currently President and Chief Operating
Officer at BBA Aviation. He is responsible for BBA’s Global Engine
Services and Signature MRO businesses, providing flight support
services to business aircraft owners, government and commercial
aviation customers.
Tony holds a Bachelor of Science in Business
Administration and Marketing from the University of Maryland.
The Company has also appointed Warren Kinsella
and Tayfun Eldem to its Advisory Board.
Warren Kinsella is the president of Daisy Group.
Previously, he was a partner at the law firm of McMillan Binch, in
its Public Policy Group, and has also worked as a consultant,
journalist, and political Chief of Staff in Canada. Mr. Kinsella
has considerable experience representing the airline industry. For
a number of years, he was United Airlines’ chief consultant in
Canada. In addition, Mr. Kinsella was the chief government and
public relations advisor to the Toronto Port Authority during the
period when Porter Airlines was taking off. Mr. Kinsella received a
Bachelor of Journalism (Honours) from Carleton University and his
law degree from the University of Calgary; he has also completed
executive education courses at Harvard’s law school and its school
of business.
Tayfun Eldem is a seasoned business executive
located in Montreal, Quebec. He has held senior roles with several
large multinational organizations. Mr. Eldem has significant
experience in operations management, business development, capital
markets, government relations, project management and technical
marketing. Mr. Eldem was recently reappointed as the Chief
Executive Officer of Toronto Stock Exchange listed Alderon Iron Ore
Corp. Previously, Mr. Eldem was Managing Director and Associate at
Hatch Ltd., leading Hatch’s business development, client engagement
and project delivery functions in Eastern North America as well as
overseeing the business globally for the iron ore and coal
commodities. He previously worked for the Iron Ore Company of
Canada, a Rio Tinto subsidiary, for more than 20 years. During this
period, Mr. Eldem held many senior roles including Vice President,
Expansion Projects & Engineering and COO. Mr. Eldem is a
professional engineer who graduated from Dalhousie University.
Jetlines has granted a total of 225,000 stock
options to Mr. Lefebvre 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.
Jetlines also announces the resignation of Mr.
Mark Lotz from the Board of Directors and would like to thank him
for his significant contribution to the Company’s development to
date.
About Canada Jetlines Ltd.
Canada Jetlines is set to become Canada’s first
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. 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:
The Howard Group Inc.
Tel: (403) 221-0915
Toll Free: 1-888-221-0915
Jeff Walker: jeff@howardgroupinc.com
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 airports that Jetlines intends to utilize, the
routes that Jetlines intends to fly, Jetlines business plan,
Jetlines ability to offer ultra-low fares, and future airline
operations of the Company.
In certain cases, forward-looking
information can be identified by the use of words such as "plans",
"expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state 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 accuracy,
reliability and applicability of the Jetlines’ business model; the
timely receipt of governmental approvals, including the receipt of
approval from regulators in Canada, the United States, Mexico and
other jurisdictions where Jetlines may operate; the timely
commencement of operations by Jetlines and the success of such
operations; the ability of Jetlines to implement its business plan
as intended; 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; the completion of financing for
airline operations; 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 acts of God, the
impact of general economic conditions, changing domestic and
international airline industry conditions, volatility of fuel
prices, increases in operating costs, terrorism, pandemics,
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,
financing, capitalization and liquidity risks, including the risk
that the financing necessary to fund operations may not be obtained
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.
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