VANCOUVER, British Columbia, Oct. 23, 2018 (GLOBE NEWSWIRE) -- Canada Jetlines Ltd. (JET: TSX-V)
(the “Company” or “Jetlines”) is pleased to announce the signing of an exclusive Airbus A320
pilot training agreement with global aviation training leader CAE (NYSE: CAE; TSX: CAE). Starting in the first half of 2019,
CAE instructors will train Jetlines’ pilots at CAE’s training centre in Montreal using the latest training equipment suite.
In addition, the airline’s pilots will have access, on-site and remotely, to the most advanced training
material, leveraging Pelesys, a CAE company, for Airbus A320 comprehensive ground-school training solutions. This holistic training
solutions experience reduces the time spent in the classroom and will allow crews to be more productive while ensuring their
technical knowledge is maintained at the highest standards.
Vic Charlebois, VP Flight Operations commented, “I have long regarded CAE and Pelesys as premier providers of
aviation training solutions. Jetlines is eager to support Canadian aviation and encourage growth in all of our industries. There
are notable benefits to using a local Canadian company, one of which is the close collaboration to customize training programs for
Jetlines’ procedures, another is keeping our costs down by having simulators locally accessible.”
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:
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 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 ability
to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline
industry conditions, 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.
