VANCOUVER, British Columbia, May 22, 2019 (GLOBE NEWSWIRE) -- Canada Jetlines Ltd. (JET: TSX-V; JETMF: OTCQB) (the “Company” or “Jetlines”) is pleased to announce that the Company has successfully completed the integration of several systems necessary in order to start selling tickets and other ancillary purchases through the Jetlines website. The new website is expected to launch in Q3 2019, in time for Jetlines’ targeted commercial launch this December.
As part of Jetlines’ strategy to deliver a strong digital customer experience, and to drive the majority of ticket sales directly through the Jetlines’ website, the Company has successfully integrated several commercial systems in preparation for launch. This includes design and development of the core website together with the booking engine, payment processing systems, revenue management systems, and other ancillary services such as car rentals and hotel bookings.
Jetlines has successfully carried out the design, development, and integration of the new Jetlines website with the reservation system platform, Radixx (see news release dated September 18, 2018), as the booking engine for ticket sales. Through Radixx and its subsidiaries, Jetlines has developed a progressive and secure web application to deliver a website that is fast, user-friendly, and seamlessly integrated with the various tools and functionalities that will be available to Jetlines’ future customers.
In addition to the website build, Jetlines has completed necessary work with partner, Elavon (see news release dated February 26, 2019), to successfully and securely receive payments in both Canadian and US dollars and to connect with Adyen, Jetlines payment service provider of choice selected to accept e-commerce, mobile, and point-of-sale payments on the Jetlines website.
Jetlines has also completed the integration of the airRM systems (see news release dated January 15, 2019), Jetlines’ revenue management program selected to optimize ticket inventories.
Jetlines has successfully carried out the implementation of the hotel booking site connector through the Jetlines website. In addition, the Company is finalizing the car rental white label service integration.
CEO Javier Suarez commented, “While we have been working on building the foundation for our new website for several months, connecting it with our various preferred partners is what turns the website into an e-commerce platform capable of generating our forecasted revenue while delivering a unique and positive customer experience for our future guests. Our user-friendly design and clean sheet build for a website will help us maintain low payment processing costs – a savings that will soon help us achieve the goal of becoming the lowest fare airline in Canada. On top of that, we believe it will deliver an exceptional and memorable experience.”
Jetlines ability to sell tickets and launch airline service remains subject to the completion of the airline licensing process, the receipt of applicable regulatory approvals and the completion of financing.
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 (i) the commencement of operations and the success of expected future operations of the Company; (ii) the ability to sell tickets and the expected timeline therefor; (iii) the expected functionality and features of Jetlines website; and (iv) the Company’s launch timeline.
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 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 satisfaction of the conditions to closing of the Offering, the satisfaction of the escrow release conditions, the terms contained in the executed agreements to be entered into by the Company or its subsidiaries with SmartLynx, 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. There is no assurance that the closing of the Offering will occur or if it does occur that the escrow release conditions will be satisfied or that SmartLynx will exercise the Option.
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.