Canada Jetlines plans TSX Venture listing

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By admin July 3, 2014 16:36

Canada Jetlines plans TSX Venture listing

Startup LCC Canada Jetlines has announced plans to raise $10 million and to list on the TSX Venture Exchange.

The carrier has signed a letter of intent with Inovent Capital, under which it will negotiate a reverse takeover that would give Canada Jetlines access to the stock market.

Under the proposed deal, Inovent aims to raise $10 million prior to the airline’s listing on the Venture Exchange.

Canada Jetlines plans to focus on an “ultra-low-cost” business model.

Jetlines President Dave Solloway said: “You build the airline that people want to fly, not necessarily the airline that would be in your dreams. The focus is on low airfares – about 40% lower than Air Canada and WestJet”.

Analysts have cautioned that the Canadian market in particular is difficult for LCCs to penetrate.

admin
By admin July 3, 2014 16:36
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