VANCOUVER, British Columbia, Jan. 30, 2018 (GLOBE NEWSWIRE) -- Jetlines Ltd. (TSX-V:JET)
(OTCQB:JETMF) (the “Company” or “Jetlines”) is pleased to announce the appointments of Captain
Vic Charlebois as Vice President Flight Operations and Phil Larsen as Vice President Maintenance effective immediately. Mr.
Charlebois and Mr. Larsen will report directly to CEO, Stan Gadek.
Having built an aviation career including nearly twenty years with the Canadian Forces, as well as serving as VP
Flight Operations for First Air, Zoom Airlines and Canada 3000, Mr. Charlebois will have responsibility for all pilot, flight
attendant, flight dispatch, systems operations control and training functions throughout the airline.
Stan Gadek said, “Vic is truly a pilot’s pilot. He is highly experienced with multiple type ratings in large
transport category aircraft such as the Boeing 757/767 and Airbus A320/330, as well as numerous military large piston, turbine and
turbojet aircraft. I am delighted to have Vic leading our flight operations department.”
Vic commented, “I am eager to join the Jetlines team and help build the next celebrated airline of Canada. This
is a significant honour and I look forward to working with our Transport Canada Certification Team and building a safe, compliant
flight operations department that will be a core asset to Canada Jetlines’ success.”
Gadek continued, “Phil Larsen is another exceptional example of aviation leadership. With over twenty years’
experience in senior roles in maintenance, engineering and technical services, at Canadian Airlines International, Air Canada, and
CHC Global Operations Group, Phil is the ideal person for this role. I am privileged to have him lead our technical operations as
we continue to bring Jetlines to operational status.”
Phil stated, “I look forward to working with a great team and being part of launching Canada Jetlines, a true
ULCC airline in Canada as a safe, affordable new service.”
Gadek went on to say, “I am excited and proud that Vic and Phil are coming on board. I know that with their
leadership we will build an organization that people will want to be a part of and our customers will want to fly.”
Jetlines has granted a combined total of 450,000 stock options to Mr. Charlebois and Mr. Larsen. The stock
options have been issued for a five-year term, with one quarter vesting every six months from the date of grant.
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, the
timelines for ticket sales and the start of airline operations, 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.
