Canada Jetlines Signs Charter Agreement with FlyAllways to Provide Weekly Service from Toronto to Guyana

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Published Jul 06, 2023 • 3 minute read

TORONTO — Canada Jetlines Operations Ltd. (NEO: CJET) (“Canada Jetlines” or the “Company”) is pleased to announce that it has signed a 6-month contract with FlyAllways, a Caribbean airline based in Suriname, where FlyAllways will charter Canada Jetlines to provide weekly flights between Toronto and Georgetown, Guyana. Commencement of flying is expected to start in Q3 2023 subject to Guyanese government approval.

“We are looking forward to this partnership with FlyAllways. We know that there is a substantial demand for the Toronto/Georgetown market, and we believe FlyAllways, and the Canadian tour operator that they have partnered with, will be successful with the introduction of this route,” said Eddy Doyle President and CEO Canada Jetlines. In addition to our regular schedule flying, we have experienced strong demand for charter and ACMI/wet-lease flying, and the flight hours contemplated in this contract will keep one of our aircraft fully utilized.”

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Canada Jetlines currently operates scheduled air service and Charter Operations to many Canadian and International destinations. Canada Jetlines’ flights can be booked via Jetlines.com or contact your favorite Travel Agency.

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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 details of the contract with the FlyAllways and its future benefits to Canada Jetlines, the expected frequency and duration of flights and business of Canada 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 Guyanese government approval for the charter flights, 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 failure to receive Guyanese government approval for the charter flights, 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.