Canada Jetlines Ceasing Operations
August 15, 2024 ctn_admin
CBC / Canadian Press – Canada Jetlines is grounding all flights and says it is temporarily ceasing airline operations effective immediately, making it the latest carrier to signal distress within Canada’s troubled commercial airline industry.
The airline, which flew mainly to sun destinations out of Toronto, said Thursday it has been unable to find the capital needed to stay afloat and plans to file for creditor protection.
“The company … pursued all available financing alternatives including strategic transactions and equity and debt financings,” said spokeswoman Erica Dymond in a release.
“Unfortunately despite these efforts, the company has been unable to obtain the financing required to continue operations at this time.”
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