Canada Jetlines and Lufthansa Technik Secure Agreement on Repair and Pool Support Contract

Canada Jetlines Operations Ltd. (NEO: CJET) ("Canada Jetlines"), the recently launched leisure carrier, has signed a long-term 'Component and Expendable Parts' agreement with Lufthansa Technik AG for its proposed A320 fleet. The multi-year agreement covering extensive component services, will support the startup and growth of the airline as it expands its fleet and network.

With this collaboration, Canada Jetlines will benefit from an individual supply concept that enables timely delivery of components and parts required to operate its proposed Airbus A320 fleet. The services covered by the contract are customized to fulfill the requirements of Canada Jetlines' business model.

An extensive component stock for the fleet has been activated at the LHT facility at Pearson International Airport (YYZ) in Toronto. This comprehensive support plan offers Canada Jetlines flexible options that many competitors don't have and contributes to the value structure of the airline.

"We have negotiated a strategic partnership with Lufthansa Technik, a world class organization, that will allow Canada Jetlines to deliver value to our customers with safety and efficiency to our operations," said Brad Warren, Vice President Maintenance Operations at Canada Jetlines. "Lufthansa Technik's commitment to ensure the highest reliability of components, to have the highest material availability and their continuous drive for improvement, is therefore the perfect match for us. They will provide us with a complete solution for our needs and with the flexibility necessary for a small airline with big growth plans."

With operations targeted to commence in the spring of 2022, Canada Jetlines aims to provide convenient air travel options for the lowest possible price, offering more travel choices than competitors to coveted sun-destinations and more revenue options for agents and tour operators.

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