VANCOUVER, British Columbia, Jan. 15, 2019 (GLOBE NEWSWIRE) -- Canada Jetlines Ltd. (JET: TSX-V) (the “Company” or “Jetlines”) is pleased to announce an agreement with Revenue Management Systems, Inc. (“RMS”), an Accelya Group Company, for the airRM software (“airRM”).
RMS serves over 90 carriers worldwide including ultra-low cost carriers such as RyanAir, VivaAerobus, Tigerair, and AirAsia. Their airRM tool is a continually evolving airline revenue management system with ground-breaking tools that integrate and display a wealth of critical information from multiple sources, enabling airlines to make better and more profitable decisions. RMS is owned by Accelya, a leading provider of technology products and services to over 400 travel carriers around the world. airRM operates in real-time, giving Jetlines the ability to shift and react based on market influences or any other variable that may impact Jetlines’ profitability.
Jordi Porcel, Chief Sales, Marketing, and Customer Experience Officer commented, “With price being one of the most important aspects of our model, airRM was a natural choice based on their state-of-the-art platform. It will allow us to identify and leverage revenue opportunities and have tight control on our pricing while staying nimble. It is important to us, and to our future passengers, that we can offer the right fare for each seat on every flight.” CEO Javier Suarez added, “This marks another important commercial milestone needed as we get closer to launching operations this coming summer. Maximizing our revenue and load factors is critical to the commercial department.”
“We are very pleased to welcome Canada’s newest ultra-low cost carrier, Jetlines, to the growing list of airlines throughout the world that use airRM to maximize their revenue," said Ben Druce, Vice President, Sales and Account Management - Americas. "For start-up airlines, the ability to react quickly to competitors, while easily implementing pricing and inventory strategies, is critical. airRM is the only RM solution in the market today that can effectively support Jetlines as it launches into the dynamic and competitive Canadian marketplace. With its robust suite of modern and sophisticated inventory control methodologies, reporting tools and analytical modules, airRM will provide Jetlines the power to be nimble and achieve their revenue management goals."
About Revenue Management Systems
Revenue Management Systems, Inc. (RMS), an Accelya Group Company, is a global leader in revenue management solutions for the aviation, rail, and cargo industries. Our software helps more than 90 airlines, rail operators, and cargo carriers worldwide make faster, smarter and more profitable decisions, driven by innovation and foresight. RMS is headquartered in Seattle, Washington (USA) with offices in Australia, Great Britain, The Netherlands, Spain, and Singapore. More information about airRM and RMS may be found at www.revenuemanagement.com.
About Accelya
Accelya is a leading global provider of technology products and services to the travel and transport industry. Founded in 1976, Accelya delivers financial, commercial, cargo and analytics solutions designed for a world on the move. Accelya provides the mission-critical solutions that account for and manage more than 5 billion financial transactions and 75 million tons of cargo annually. Accelya serves as a strategic partner to more than 400 airlines, travel agents and shippers. For more information, please visit www.accelya.com.
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. The Company plans to commence operations with the Airbus A320 fleet, the most widely used aircraft for ultra-low cost carriers worldwide. 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:
Toll Free: 1-833-226-5387
Email: investor.relations@jetlines.ca
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 expected benefits of airRM, future revenues and profitability of the Company, the launch of airline operations the commencement of operations and the success of expected future operations of the Company.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements 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 success of the Jetlines’ business model; the timely receipt of governmental approvals; the timely commencement of operations by Jetlines and the success of such operations; 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, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, future relations with SmartLynx, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, 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 disputes under the agreement with Boeing to acquire 737-Max aircraft, 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.