Canada Jetlines Enters ACMI Lease Agreement with Air Arabia Moroc

Canada Jetlines Operations Ltd. (Cboe CA:CJET) ("Canada Jetlines" or the "Company"), a prominent leisure airline in Canada, announced today that it will deploy an additional two aircraft from its fleet in Morocco this summer under an Wetlease/ACMI (Aircraft, Crew, Maintenance, and Insurance) lease agreement with Air Arabia Moroc.

Under the terms of the agreement, two of Canada Jetlines' A320 aircraft will operate flights between Western European destinations and Morocco. The lease duration spans three months, commencing mid-June through to mid-September 2024.

Eddy Doyle, CEO of Canada Jetlines, highlighted the significance of the agreement, stating, "Our partnership with Air Arabia Moroc marks a strategic step forward in our business plan of providing Wetlease/ACMI services for reputable partners. By leveraging this agreement, we are not only maximizing the utilization of our aircraft during the busy summer months in Europe but also solidifying our position as a premier provider of tailored aviation solutions. This agreement underscores the sustainable growth plan for Canada Jetlines."

The aircraft will return to service in key North America markets for the fall/winter leisure season.