RE:March 13th 2018 Jetlines vs March 22nd 2018 CBCForget about the lack of planes for a moment. They can not even get to stage 2 of the licensing process without $27 million in working capital...which is about $26 million more than they presently have. Now if they can find the working capital to satisfy the licensing requirements then at that time they are at least technically a licensed airline and we can then start talking about what it is going to take for them to get their hands on a few planes. Until such time the only thing that will be flapping in the breeze, will continue to be their lips.
2012...2013...2014...2015...2016...2017...2018...?...No comment
"The company has already completed Stage I of the CTA’s licensing procedure. In order to complete Stage II, it will need, in addition to its AOC, C$27.233 million in working capital to satisfy the financial requirements for a domestic airline license." Stage 1: Determination of financial requirements
During stage 1, the Agency will review the information and documentation submitted by the applicant to determine the financial requirements (i.e., funding requirement) associated with starting-up and operating the proposed air service for a 90-day period. The applicant is required to submit the information and documentation with its licence application. At the end of stage 1, the Agency will issue a decision confirming the financial requirements associated with operating the proposed air service for a 90-day period under conditions of optimum demand.
Stage 2: Compliance with the funding requirement
During stage 2, the applicant must satisfy the Agency that it has either already acquired, or it can acquire, the required funds confirmed in stage 1, and that the funds are available and will remain available to finance the air service. The stage 2 information does not need to be filed with the Agency before the Agency issues its stage 1 decision, confirming the financial requirements. The applicant may, however, choose to file the stage 1and stage 2 information together with its licence application. At the end of stage 2, the Agency will issue its decision confirming whether the applicant has met the financial requirements.