VANCOUVER, BRITISH COLUMBIA, Canada Jetlines Ltd. (JET: TSX-V) (the “Company” or “Jetlines”) is very pleased to announce the appointment of Saad Hammad as an independent director, effective July 1, 2017. Mr. Hammad brings over 30 years of business, executive and Board experience across a variety of sectors, including 9 years with low-cost airlines. Until October 2016, Mr. Hammad served as Chief Executive Officer of Flybe PLC, a UK-based low-cost carrier and the largest independent regional airline in Europe.
During his tenure with Flybe, Mr. Hammad led a transformational turnaround, returning the business to profitability for the first time since the company’s IPO in 2010. This was accomplished through extensive restructuring, driving operational improvements, improving internal culture, and re-establishing the brand and resulting customer satisfaction.
Mr. Hammad also held the role of Chief Commercial Officer for easyJet from 2005 to 2009. Here he led a full commercial turnaround, covering network development, scheduling, sales & distribution, revenue management, ancillary products & services, marketing and customer service, resulting in a doubling of revenue from £1.3 billion in 2005 to £2.7 billion in 2009.
Since 2014 Mr. Hammad has also been a Non-Executive Director and Chairman of the Risk Committee at Pegasus, the leading ultra-low cost airline in Turkey.
“The diverse executive expertise that Saad brings to Jetlines’ Board is extremely valuable at this time for the Company,” said Mr. Mark Morabito, Executive Chairman of Jetlines. “His proven ability in creating value and building profitable businesses, particularly in the aviation industry, will contribute enormously to our strategy moving forward.”
Mr. Hammad is based in London, UK, is a graduate from the University of Oxford and holds an MBA from INSEAD Business School in France.
Mr. Hammad will also be granted 225,000 stock options with a five-year term to be vested over a period of twenty-four months and at an exercise price equal to the closing market price on the day prior to his appointment.