VANCOUVER, British Columbia, Sept. 18, 2018
(GLOBE NEWSWIRE) -- Canada Jetlines Ltd. (JET:
TSX-V) (the “Company” or
“Jetlines”) is pleased to announce that the
Company has signed a definitive agreement with Radixx
International, Inc. (“Radixx”), a world-class technology company as
its Reservation System provider.
Radixx newest reservation system Radixx Res,
includes a booking engine that allows the Airline to manage all
passenger bookings, and a customized website and mobile application
that will allow customers to make their bookings paying only for
the services they want to receive.
The Radixx platform uses innovative and
cost-effective solutions that strongly align with the ultra-low
cost business model. In addition, its flexibility, ability to
scale, and ability to offer unique merchandizing tools made Radixx
a clear partner of choice for Jetlines. These features will allow
Jetlines to operate at maximum efficiency in order to minimize
costs throughout all points of the customer journey, giving the
Company a competitive cost structure to attract and retain future
customers.
“We are very excited to announce this strategic
partnership with Radixx. This is a very important milestone for
Jetlines; it is the foundation of our all our commercial systems,”
stated CEO, Javier Suarez. “Their new reservation system offers a
full suite of services including a new responsive website and
mobile application tailored to the needs of our customers, all
while allowing Jetlines to maintain the necessary low-cost
structure needed to provide our customers with ultra-low
airfares.”
John Elieson, Radixx CEO, commented “Radixx is
committed to being a valued partner of Jetlines. We’ve been
impressed by the accomplished management team and their business
plan, and look forward to partnering with them.”
Jetlines also announces that it will grant
500,000 Restricted Share Units (“RSUs”) to certain directors and
officers. The RSUs vest over a two-year period from the date of
grant, with one half vesting at the end of each year during the
two-year period.
About Radixx
Founded in 1993, Radixx International, Inc.,
headquartered in Orlando, Florida, combines an innovative
technology approach with unique partnership models enabling
airlines of all sizes and business models to be effective retailers
and efficient operators. Radixx offers world-class, browser-based,
Internet Booking Engine, Passenger Services System, and Departure
Services Solutions, natively designed to help airlines increase
their profitability and maximize productivity through expanded
distribution services. The systems micro-services based
architecture allows airlines to auto-scale and rapidly deploy to
quickly adapt to their needs. Since 2016, Radixx has the investment
of TA Associates, a leading global growth private equity firm, and
is now delivering its sixth-generation passenger service system.
Radixx’s fully integrated, cloud-based solutions support all
airline business models and currently hosts over 35 airlines across
six continents. For more information,
visit www.radixx.com.
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:
Canada Jetlines Ltd.
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 implementation and benefits of the Radixx
reservation system, the business plan, the maintenance of a
competitive cost structure, the 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 receipt of financing
to commence airline operations, 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; 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,
risks related to disputes under the agreement with Boeing to
acquire 737-Max aircraft, 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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