Q4 and full year 2023 transcript available Canada Jetlines Ltd. Fourth Quarter and Full-Year 2023 Results, Conference Call Transcript.
Date: Thursday, March 28, 2024
https://23714728.fs1.hubspotusercontent-na1.net/hubfs/23714728/Transcript%2010023136%20Canada%20Jetlines%202024%2003%2028.pdf?utm_medium=email&_hsenc=p2ANqtz-9LgLf9ua4eps6jiYTsVZHllbyQ0XF9tJ04Seg60whYTcPxlHSZc2mKVOapRpCCwDU_jBONJhbURaH5WDk2zaaO_6l-EA&_hsmi=301864476&utm_content=301864476&utm_source=hs_email 2024 outlook...
Eddy Doyle: "As we enter 2024, we're excited to execute our growth strategy which includes expanding our fleet to seven aircraft by the end of 2024. We presently operate four aircrafts with two more being delivered in the next two months. As I mentioned before, we'll be at six by the end of June. Looking at the longer term, we're projecting an expansion to 15 aircrafts by the end of 2026.
Earlier this month, we announced a strategic agreement with Corendon Airlines in the Netherlands, which will help us maximize our fleet utilization during the summer season by providing Corendon Airlines with two aircrafts and crews, which will be based in Rotterdam and Maastricht, respectively. The operation is set to begin with one aircraft in late April 2024 for a period of six months, and the second aircraft in late June until the end of October also. Both aircrafts will be operating for Corendon until the end of October.
This week, we announced a second wet lease contract, this time flying for Air Arabia Maroc, where we will provide two aircrafts and crews to operate flights between Morocco and Western Europe, starting in mid-June, lasting until mid-September. The aircrafts will then return to—all four aircrafts will then return to Canada in the fall, and we'll be flying to a key leisure destination on our scheduled services.
We are pleased with the high fleet utilization and revenue these wet lease contract will provide in the upcoming months, and about the growth opportunities ahead here in the next few months.
Our strategic initiative, including fleet inspection and the forging of key partnership, are positioning us well for sustainable growth and success.
Our Tour Operator, as I'll talk a little bit about that, was launched in December 2023, Canada Jetlines Vacation, which provides Canadians with an option to buy all-inclusive packages to the Caribbean, as well as other destinations, offering a combination of flights, plus hotel or cruise, car rental, insurance, and ground tour packages.
Jetlines Vacation will not only support the Company's airline operation, but also establish a network of resellers and all the partnerships to expand our offering and reach new customer, thereby strengthening our position in leisure travel market and aligning with its commitment to providing Canadians with exceptional vacation options."