Canada Jetlines Ltd. (TSX-V: JET) (the “Company” or “Jetlines”) is pleased to announce that further to its news release of June 13, 2018, it has completed a second set of advance lease payments to AerCap, a global leader in aircraft leasing and aviation finance, for two Airbus A320 aircraft. Delivery of Airbus A320 MSNs 2594 and 2663 are expected by early Q2 of 2019. Both aircraft are currently with Air New Zealand and are approaching end of lease service with the airline. Jetlines has made another deposit to AerCap for USD $438,000 per the terms of the agreement and in demonstration of the continued partnership. To date Jetlines has made payments totalling USD $2,190,000 toward securing these aircraft.
AerCap is the world's largest independent aircraft leasing company with a well-diversified portfolio of high-quality aircraft. They provide aircraft to a global network of approximately 200 airline customers in approximately 80 countries and is recognized as the most active aircraft trader globally. The two committed Airbus A320’s are sister aircraft, having virtually identical conformity in design, features, and equipment, allowing Jetlines to expedite the necessary training and maintenance processes to commence operations at an earlier date. The sister aircraft are approximately 12 years old.
CEO Javier Suarez stated “Our operations team has worked diligently on securing quality aircraft, carrying out a meticulous vetting process to ensure that the aircraft are fit for Jetlines’ ultra-low-cost operation. As a part of the process, Jetlines retained Lufthansa Technik to accomplish the preliminary inspection prior to the lease agreement completion to ensure the aircraft suitability and condition. Both AerCap and Air New Zealand have been proactive in supporting the transfer of data and information to Jetlines in order to allow the early entry into service. We look forward to getting these aircraft off the ground and to finally bring low fares to Canada.”
AerCap has retained the services of AKKA Technologies, an Aerospace design organization, to complete the cabin interior reconfiguration engineering approval with the engineering now in work. Acro Aircraft Seating has also been retained as a part of the cabin reconfiguration to manufacture new Acro Series 3 ST seats. Acro is one of the world’s leading innovators in aircraft seating design and manufacturing and has a detailed working knowledge of the ULCC model, translating to a thorough understanding of Jetlines’ needs. Safety, durability, and a lightweight construction are all pillars necessary for an ultra-low-cost carrier to be effective and maintain good fuel efficiency. Acro is the ULCC aircraft seating company of choice for many ULCC’s across North America.