Canada Jetlines has scrapped a proposed $50m IPO. Jetlines, a Canadian ultra-low-cost carrier (ULCC) based in Vancouver that is scheduled to start flying to secondary airports in Western Canada in 2015, announced late last week that a reverse takeover deal with Inovent Capital has been abandoned so that the airline could follow a new opportunity which may yet still involve an IPO at a later date. But yesterday morning Inovent issued a press release saying that it has rejected Jetlines’ termination notice, alleging that the airline does not have the right to terminate their agreement. The release stated that “Inovent
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