VANCOUVER, British Columbia, June 20, 2018
(GLOBE NEWSWIRE) -- Canada Jetlines Ltd.
(TSX-V:JET) (the “Company” or
“Jetlines”) is pleased to announce the appointment
of Mr. Javier Suarez as Chief Commercial Officer, effective July
30, 2018.
Incoming CEO Lukas Johnson commented, “I am
excited to bring Javier to the Jetlines team. Javier’s
ultra-low-cost carrier expertise in network planning and revenue
management gained with many years of experience at VivaAerobus and
Vueling will be invaluable as we continue to develop and deliver on
the Jetlines strategy. I look forward to working closely with
Javier to build Canada’s first true ultra-low-cost air
carrier.”
Javier Suarez commented, “I look forward to
working with Lukas and the team. My expertise and knowledge of how
to strategically place and manage routes will be an asset to the
Company and will help ensure Jetlines is able to be as cost
efficient and operationally effective as possible.”
Mr. Javier Suarez has over 10 years of airline
executive experience with expertise in network and fleet planning,
revenue management, and e-commerce. Most recently, Javier was Vice
President, Network Planning, Revenue Management, E-Commerce with
VivaAerobus. Javier was part of the senior management team that
improved profitability from a breakeven in 2014 to becoming the
most profitable airline in Mexico in 2017. During his tenure, he
was responsible for growing its fleet from 13 to 32 aircraft
between 2014 and 2018, managing the majority of commercial
functions, including the online commercial distribution and
negotiations with various third-party vendors. During the last four
years, he launched 55 routes with a 98% success rate.
Javier’s previous experience includes holding
progressively senior roles with Vueling Airlines from 2010 to 2014,
an ultra-low-cost carrier in Europe, most notably as the Director
of Network Planning, Scheduling, Slots and Corporate Affairs.
During his tenure, Javier managed the network of the airline,
growing the fleet size from 38 to 105 aircraft in a four-year span.
He defined the Vueling network strategy that operated close to 400
routes that generated over USD $2 billion in revenue. Additionally,
Javier was responsible for launching more than 200 routes over
three years, achieving a 92% success rate. Prior to his tenure with
Vueling, Javier held the role of Senior Strategist with Qatar
Airways from 2008 to 2010.
Javier has earned a Masters in Management from
Harvard University, Masters in Marketing from ESIC Marketing School
in Madrid, and Bachelor of Arts, Airline Business Administration
from the Autonoma University of Madrid.
About Canada Jetlines Ltd.
Canada Jetlines is set to become Canada’s first
true Ultra-Low Cost Carrier (ULCC) airline, with plans to operate
flights across Canada and provide non-stop service from Canada to
the United States, Mexico and the Caribbean. Jetlines is led by a
board and management team with extensive experience and expertise
in low-cost airlines, start-ups and capital markets. The Company
was granted an unprecedented exemption from the Government of
Canada that will permit it to conduct domestic air services while
having up to 49% foreign voting interests.
For more information on Jetlines, please visit
our website at www.jetlines.ca.
ON BEHALF OF THE BOARD
"Mark J. Morabito"
Executive
Chairman
Canada Jetlines is part of the King & Bay group of
companies. King & Bay is a merchant bank that specializes in
identifying, funding, developing and supporting growth
opportunities in the resource, aviation, and technology
sectors.
For more information, please contact:
The Howard Group Inc.
Tel: (403) 221-0915
Toll Free: 1-888-221-0915
Jeff Walker: jeff@howardgroupinc.com
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, statements with
respect to the business plan, the ability to offer ultra-low fares,
potential route destinations, ticket sales and future airline
operations of the Company.
In certain cases, forward-looking
information can be identified by the use of words such as "plans",
"expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state 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 financing
to commence airline operations, the accuracy, reliability and
applicability of the Jetlines’ business model; the timely receipt
of governmental approvals, including the receipt of approval from
regulators in Canada, the United States, Mexico and other
jurisdictions where Jetlines may operate; the timely commencement
of operations by Jetlines and the success of such operations; the
ability of Jetlines to implement its business plan as intended; the
legislative and regulatory environments of the jurisdictions where
the Jetlines will carry on business or have operations; the impact
of competition and the competitive response to the 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 acts of God, the
impact of general economic conditions, changing domestic and
international airline industry conditions, volatility of fuel
prices, increases in operating costs, terrorism, pandemics,
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 the necessary licenses and permits,
risks related to the acceleration of payments under the agreement
with Boeing to acquire 737-Max aircraft, financing,
capitalization and liquidity risks, including the risk that the
financing necessary to fund operations may not be obtained 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 actions, events
or results to differ materially from those described in
forward-looking information, there may be other factors that cause
actions, events or 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 or revise any forward-looking
information.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) has reviewed or accepts
responsibility for the adequacy or accuracy of this release.
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