Jetlines Announces a Definitive Lease Agreement with SmartLynx for Two Airbus A320 Aircraft in Line for December Launch

Canada Jetlines Ltd. (JET: TSX-V; JETMF: OTCQB) (the “Company” or “Jetlines”) is pleased to announce that it has entered into definitive lease agreement with its partner, SmartLynx Airlines SIA, for two Airbus A320 that will be available for delivery in Q4 2019 in line with the expected commencement of Jetlines’ operations. Jetlines has set a launch of commercial service targeted for December 17, 2019 using Vancouver (YVR) as Jetlines’ home airport.

Jetlines’ operations department intends to conduct a familiarization inspection of the aircraft in the next few months to ensure the aircraft are in compliance with the Transport Canada A320 Type Certificate, and identify any additional equipment required.

The aircraft are scheduled to be delivered by November 5, 2019 and as part of the AOC (Air Operator Certificate) process, they will be inspected by Transport Canada prior to launching operations.

CEO, Javier Suarez commented, “I am thrilled with the favourable lease rates offered by our partner Smartlynx. I’m also very pleased to share that the aircraft will be delivered in flight-ready condition with no reconfiguration needed; keeping our turnaround time and costs down. The aircraft will be Jetlines branded with the previously defined ultra-low cost 180 seats with an all economy configuration. We are working hard to have these two aircraft flying right before the busy holiday season in December 2019.”

Executive Chairman, Mark Morabito commented, “I want to again express my appreciation to our partners at SmartLynx for working with Jetlines to conclude these definitive lease agreements on favorable terms. Jetlines continues to work on concluding the final component of its financing plan so that it can begin airline operations in time for the holiday season.”

The two Airbus A320’s have virtually identical conformity in design, features, and equipment, allowing Jetlines to expedite the necessary training and maintenance processes. The two aircraft will be configured with 180 ultra-light ACRO seats, helping the airline save fuel while increasing its payload.