The Canadian Transportation Agency (CTA) has granted Canada Jetlines (JETMF) stage 2 approval after determining that the airline met the agency’s financial requirements.
The news follows a previous approval where the CTA determined Canada Jetlines (JETMF) met the Canadian Control requirements.
According to a press statement on the airline’s website, the formal CTA commercial license will be issued following the issuance of the Air Operator Certificate (AOC) by Transport Canada, the country’s transport authority.
NEWS: Canada Jetlines (JETMF) has officially received Stage 2 Approval from the CTA! Click the link to read the release in its entirety and follow for more #CanadaJetlines updates ahead of launch! https://t.co/gg1PiZnAtt— Canada Jetlines (@CA_Jetlines) May 24, 2022
“This is an important milestone for Canada Jetlines (JETMF) as we are approaching the completion of the AOC process with Transport Canada,” said Eddy Doyle CEO Canada Jetlines (JETMF).
“The teams of both the CTA and Canada Jetlines (JETMF) have been working with great collaboration and diligence to ensure we have met or exceeded the requirements for a start-up airline operating in Canada.”
Doyle added that the airline intends to launch its first commercial flight in the summer of 2022
“We are working in earnest towards the finish line of the certification process. We are confident that we will operate our first commercial flight this summer and plan to announce our commercial schedule in the coming weeks,” said Doyle.
On April 7, 2022, Canada Jetlines (JETMF) announced the commencement of its operations out of Toronto Pearson International Airport (YYZ) as its primary hub ahead of its 2022 summer launch.
According to a statement from the airline, its charter operations, targeted to commence in the summer of 2022, will include services to international destinations throughout the United States, Mexico, Caribbean, and domestic destinations in Canada.
Founded in 2013, the Canadian charter carrier currently has one A320-200 which it took delivery of on December 27, 2021, from commercial aircraft lessor Jackson Square Aviation.
Canada Jetlines (JETMF) plans to expand its fleet to 15 Airbus family aircraft by 2025.
On April 26, 2022, the low-cost leisure airline announced that it had raised $3.35 million after closing a non-brokered private placement.
During the private financing event, the airline sold more than 9.5 million units, each unit consisting of one common or variable voting share at a price of $0.35 per unit as well as one half of a warrant.