Jetlines to join with Global Crossing Airlines (GLOBALX) for a charter airline as hopes of developing a Canadian ultra low-cost-carrier are vanishing faster than ice in the Sahara.
GLOBALX is a developing United States based charter airline and is financially backed by two Miami based private-equity firms. The firm is in the pre-revenue stage with its head office located at Miami International Airport with plans to operate a charter airline using the Airbus A320-200 aircraft. The idea is to provide ACMI and wet-lease contracts to airlines operating within and to the United States. It also wants to develop aircraft interchange with leading European charter/tour operator.
In addition to the core business of GLOBALX will now continue with an operating plan for Canada, including continuing to advance the Air Operator Certificate for Jetlines with everything maintained in submission-ready status. The intention is to initially operate charter operations for major tour operators from Canadian cities to major leisure destinations in the United States. Apparently, these flights will be operate GLOBALX aircraft, branded as Jetlines, operated by GLOBALX.
Mr Mark Morabito commented, “While Jetlines made significant progress in building out a management team, advancing the airline licensing process, establishing systems, securing routes and obtaining financing commitments, ultimately current market conditions necessitated a change in strategy. The GLOBALX plan preserves Jetlines strategy long term and provides a more immediate opportunity to commence airline operations. I am resigning from Jetlines at this time in order to facilitate the GLOBALX transaction and its plans to restructure management.”
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