Canada Jetlines (Cboe CA:CJET) Expands Fleet with A320-200 Lease from Aviation Capital Group

TORONTO, ON / ACCESSWIRE / March 18, 2024 / Canada Jetlines Operations Ltd. (Cboe CA:CJET) ("Canada Jetlines" or the "Company"), one of Canada's leading leisure airlines, announced the delivery of one (1) Airbus A320-200 on long-term lease from Aviation Capital Group LLC (ACG), a premier global aircraft asset manager. This is the Company's fourth aircraft and it has signed lease agreements for two additional Airbus A320 aircraft that are scheduled for delivery in Q2 2024.

Eddy Doyle, Canada Jetlines CEO, stated, "We are excited to partner with Aviation Capital Group LLC and welcome this new addition to our fleet. This A320-200 delivery marks a significant step in our growth strategy, allowing us to enhance our service offerings and expand our operations to better serve our customers. Canada Jetlines' unique business strategy of focusing on charter/ACMI flights, along with a leisure destination focused scheduled service operation, allows it to be competitive with a sustainable growth strategy."

Alan Mangels, Vice President of Marketing for ACG, expressed enthusiasm about the partnership, stating, "ACG is proud to broaden its footprint in North America and is pleased to welcome Canada Jetlines as a new lessee. We look forward to this new, long-term partnership."

This lease agreement with ACG aligns with Canada Jetlines' goal to provide air travel and vacation experiences for Canadians. The A320-200 will further strengthen Canada Jetlines' fleet enabling the airline to offer more routes and destinations to meet the growing demand for leisure travel, charter and ACMI flights.

About Canada Jetlines
Canada Jetlines Operations Ltd. (Cboe CA: CJET), trading as "Canada Jetlines," is a Canadian leisure airline committed to providing an exciting travel experience to its passengers. With a growing network of destinations, Canada Jetlines is dedicated to connecting Canadians with some of the world's most captivating and sought-after locations.

Media Contact:
Julie Rempel
media@jetlines.ca
204.807.2900

Investor Contact:
Alyssa Barry
invest@jetlines.ca

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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 the Company's intention to operate as a leisure airline, the number of aircraft it intends to operate, the destinations of intended flights, the frequency of flights, the delivery of additional aircraft, the Company's growth strategy, the offering of more routes and destinations to meet the growing demand for leisure travel and business of Jetlines.

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 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 continue airline operations, the accuracy, reliability and success of Jetlines' business model; the continued compliance with the terms of governmental approvals; Jetlines concluding definitive agreements for additional aircraft; the success of operations by Jetlines the legislative and regulatory environments of the jurisdictions where Jetlines will carry on business or have operations; the impact of competition and the competitive response to 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, the impact of general economic conditions, domestic and international airline industry conditions, the failure of the Company to conclude definitive agreements to acquire additional aircraft, supply chain disruptions causing delays in expected timelines, the impact of the global uncertainty created by COVID-19, future relations with shareholders, 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 (or compliance with) the necessary licenses from regulatory agencies, 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 results to differ materially from those described in forward-looking information, there may be other factors that cause 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 any forward-looking information.

SOURCE: Canada Jetlines Ltd