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.
About Aeropuertos Dominicanos Siglo XXI
Aeropuertos Dominicanos Siglo XXI (Aerodom), a subsidiary of VINCI Airports, is one of the biggest airport operators in Central America and the Caribbean. The company has a concession contract with the Dominican Government to develop, operate and manage six airports in the Dominican Republic until 2030. The airports include Las Americas International Airport in Santo Domingo, which serves as the principal international gateway to the country’s capital and is the second-largest airport in terms of passengers; Gregorio Luperón in Puerto Plata; Presidente Juan Bosch and Arroyo Barril, both near Samana; La Isabela in the city of Santo Domingo; and Maria Montez in Barahona.
For more information, visit www.aerodom.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:
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Email: [email protected]
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 routes that Jetlines intends to service, Jetlines ability to operate these routes successfully, 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 and in a timely manner to meet aircraft lease, regulatory and other financial commitments required for start-up, 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.
