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JET-2014-12 - JETLINES INTRO
Formed in 2013. Start-up Ultra Low Cost Carrier (ULCC), domestic, regional & international, scheduled & charter, passenger & cargo jet airplane services.
840 Howe Street
Vancouver, BC V6Z 2S9, Canada
4408C-3211 Grant McConachie Way
Richmond, BC V7B OA4, Canada
CANADA WAS ESTABLISHED IN 1867, IT COVERS AN AREA OF 9,976,139 SQ KM, ITS POPULATION IS 30 MILLION, ITS CAPITAL CITY IS OTTAWA, AND ITS OFFICIAL LANGUAGES ARE ENGLISH & FRENCH.
December 2014: Boeing [TBC) and Jetlines (JET) announced an order for five 737 MAX 7s as the new Canadian ultra-low cost carrier (ULCC) builds its future fleet. The order, valued at $438 million at current list prices, includes purchase rights for an additional 16 737 MAXs.
"This agreement with Boeing (TBC) is a major milestone for Jetlines (JET)," said Jim Scott, (CEO) of Jetlines (JET). "We are thrilled to be partnering with Boeing (TBC) and look forward to introducing the 737 MAX 7 into our fleet."
The new airline, headquartered in Vancouver, British Columbia, plans to tap into passenger demand by offering low cost airfares on routes that avoid direct competition with other airlines.
"Boeing (TBC) is proud to partner with (JET) as it begins a journey to offer low airfares to passengers across Canada," said Brad McMullen, VP North America Sales, Boeing Commercial Airplanes (BCA). "The 737 MAX 7 is perfectly suited to the airline's needs, and we appreciate the confidence (JET) has in the airplane."
The 737 MAX incorporates the latest technology (CFM) International (LEAP-1B) engines, Advanced Technology winglets and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market. The 737 MAX 7 will be capable of flying more than >3,800 nautical miles, extending the range over today's 737-700 by approximately +400 nautical miles/741 km.
With this order, the 737 MAX has orders for 2,562 airplanes from 55 customers worldwide.
January 2015: New Canadian ultra-low cost carrier (ULCC) Jetlines (JET) remains on track to launch in mid-2015 with two used Boeing 737 Classic airplanes flying short-haul routes from Vancouver International Airport, according to a recently released prospectus.
November 2017: News Item A-1: WestJet (WJI) Greg Saretsky (CEO) has told investors that (WJI) would consider a possible revenue-sharing arrangement or joint-venture with a USA carrier. In a conference call with analysts after the business posted its 3rd quarter financial results, Saretsky revealed (WJI) would “look at” the potential of coordinating items on certain routes.
He said: “We’re generally supportive [of joint ventures]. Would we do it ourselves? I think we have to look at it. We have 2 great partners in the USA (American Airlines (AAL) and Delta (DAL)) and we’re in regular conversations with both of them about what more could we do and how we could add value to each other.”
Saretsky was speaking shortly after (WJI) filed its results for the 3 months to the end of September 2017, with record net earnings of +CAN$138.4 million. (WJI) achieved its 50th consecutive quarter of profitability and flew an all-time quarterly record of 6.5 million passengers. “Our business fundamentals continue to strengthen, which combined with new strategic initiatives, including the launching of Swoop in the summer of 2018 and Boeing 787 Dreamliner service starting in 2019, gives us great confidence in our ability to deliver sustainable profitable growth and earnings expansion."
Ultra-low-cost carrier (ULCC) Swoop will offer a “no-frills, lower-fare travel option” when it launches in 2018. Ed Sims, (WJI)’s Executive VP Commercial, said it would be the group’s “competitive weapon. (WJI) will continue to manage well over one million fares on any given day at under $100 (it will continue to be low-cost) but Swoop will be the competitive weapon.” Sims added that capacity growth next year would be characterized by feeder traffic. “We’re really looking at our core hubs and the connectivity between those hubs across Canada,” he said.
“All of that is being built with a schedule that has the 787-9 Dreamliner in mind to ensure that we will continue to build that hub approach for the introduction of our wide bodied airplanes in 2019.
We continue to see strong growth in the trans-border market and we’ll be rolling out destinations like Calgary to Denver direct in March next year, while we see very strong growth in a lot of our international sun destinations.”
As (WJI) pushes forward with the launch of (ULCC) Swoop, competitor Jetlines (JET) also hopes to operate its 1st flights next summer. This month it confirmed that it intends to offer services from Abbotsford International Airport, initially from Hamilton, Ontario. “The addition of the Abbotsford International Airport extends Jetlines (JET)’s reach, allowing greater access to large populations,” said Jetlines (CEO) Stan Gadek.
Jetlines (JET), part of merchant bank King & Bay, intends to operate flights across Canada and provide non-stop service from the country to the USA, Mexico and the Caribbean. In September, (JET) announced it would start flights from John C Munro Hamilton International Airport and Region of Waterloo International Airport. During the same month, it also signed a letter of intent (LOI) for 2 Boeing 737-800NG airplanes with “a major USA based airplane leasing firm” for delivery in April 2018.