Canada Jetlines (NEO: CJET) is finally nearing its inaugural first flight as the newest Canadian airline. The firm this morning announced its first scheduled flight route that will take place, which is scheduled to begin next month.
The flight is set to occur between Toronto’s Pearson International Airport and Calgary’s International Airport, which will take place on September 22. The first flight is also set to mark the start of a biweekly flight, which will be conducted on Thursdays and Sundays, with the frequency to eventually scale up to three flights a week in October.
“Canada Jetlines is proud to launch our initial flights between Toronto to Calgary. The two cities represent cultural diversity, economic trade, and significant investment opportunities. We are encouraged to continue expanding our reach, with the goal of serving as Toronto’s preferred airline,” commented CEO Eddy Doyle.
While the flights mark a major achievement, they represent a notable delay from even the most recent guidance on when flights would ultimately commence for the airline. The company in mid-July began offering tickets for sale for flights between Toronto and Moncton, New Brunswick as well as Winnipeg, Manitoba. The initial flight was marked for August 15, however that had to be postponed just weeks later when the firm had yet to receive its flight licenses from Transport Canada.
With its air operating certificate not issued until August 18, and its Canadian Transportation Agency licenses not issued until August 22, the firm has managed to make a blunder out of its inaugural flights. It’s unclear if its the reason behind why the firm on August 22 also had to enter into a $1.0 million loan agreement for a period of two years with a director.
And despite earlier announcements, flights are still unavailable for booking to the cities of Moncton and Winnipeg, and it remains unclear when they may begin.
The delays however don’t appear to bother those in the industry whom instead are welcoming more competition into the sector. ““The launch of Canada Jetlines is yet another milestone marking recovery in the travel and tourism sector. YYC is eager to welcome Canada Jetlines’ guests by showcasing the effortless and memorable experiences that reflect our region and Calgary’s legendary hospitality,” said Bob Sartor, CEO of the Calgary Airport Authority on today’s announcement.
Canada Jetlines last traded at $0.27 on the Neo.
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