Canada Jetlines (AU, Toronto Pearson) is in talks with a Canadian carrier as well as another undisclosed international firm concerning possible partnership arrangements Canada's Financial Post has reported.
The start-up last month announced the termination of an amalgamation agreement with Vancouver-based capital-pool company, Inovent Capital, following its expiration in January. The move lead Inovent to threaten legal proceedings against Jetlines for breach of contract.
Despite the messy divorce, the ULCC start-up is exploring options with Canadian charter specialist CanJet Airlines (Halifax) among other carriers which could either merge or take a stake in the airline ahead of its planned mid-year launch date. The other option, said to be in its early stages, is a strategic financial transaction with an international company that could provide funding but not necessarily operating experience.
Jetlines says it is still intent on raising CAD50 million (USD40 million) for use in launching operations in July of this year. As recently reported, it will lease three B737-300s from GE Capital Aviation Services (GECAS) for its initial operational requirements. Early network plans show the carrier will operate budget flights out of Vancouver International to various cities throughout Canada's west before expending eastwards.
