VANCOUVER, British Columbia, June 20, 2018 (GLOBE NEWSWIRE) -- Canada Jetlines Ltd. (TSX-V:JET) (the “Company” or “Jetlines”) is pleased to announce the appointment of Mr. Javier Suarez as Chief Commercial Officer, effective July 30, 2018.
Incoming CEO Lukas Johnson commented, “I am excited to bring Javier to the Jetlines team. Javier’s ultra-low-cost carrier expertise in network planning and revenue management gained with many years of experience at VivaAerobus and Vueling will be invaluable as we continue to develop and deliver on the Jetlines strategy. I look forward to working closely with Javier to build Canada’s first true ultra-low-cost air carrier.”
Javier Suarez commented, “I look forward to working with Lukas and the team. My expertise and knowledge of how to strategically place and manage routes will be an asset to the Company and will help ensure Jetlines is able to be as cost efficient and operationally effective as possible.”
Mr. Javier Suarez has over 10 years of airline executive experience with expertise in network and fleet planning, revenue management, and e-commerce. Most recently, Javier was Vice President, Network Planning, Revenue Management, E-Commerce with VivaAerobus. Javier was part of the senior management team that improved profitability from a breakeven in 2014 to becoming the most profitable airline in Mexico in 2017. During his tenure, he was responsible for growing its fleet from 13 to 32 aircraft between 2014 and 2018, managing the majority of commercial functions, including the online commercial distribution and negotiations with various third-party vendors. During the last four years, he launched 55 routes with a 98% success rate.
Javier’s previous experience includes holding progressively senior roles with Vueling Airlines from 2010 to 2014, an ultra-low-cost carrier in Europe, most notably as the Director of Network Planning, Scheduling, Slots and Corporate Affairs. During his tenure, Javier managed the network of the airline, growing the fleet size from 38 to 105 aircraft in a four-year span. He defined the Vueling network strategy that operated close to 400 routes that generated over USD $2 billion in revenue. Additionally, Javier was responsible for launching more than 200 routes over three years, achieving a 92% success rate. Prior to his tenure with Vueling, Javier held the role of Senior Strategist with Qatar Airways from 2008 to 2010.
Javier has earned a Masters in Management from Harvard University, Masters in Marketing from ESIC Marketing School in Madrid, and Bachelor of Arts, Airline Business Administration from the Autonoma University of Madrid.
About Canada Jetlines Ltd.
Canada Jetlines is set to become Canada’s first true Ultra-Low Cost Carrier (ULCC) airline, with plans to operate flights across Canada and provide non-stop service from Canada to the United States, Mexico and the Caribbean. Jetlines is led by a board and management team with extensive experience and expertise in low-cost airlines, start-ups and capital markets. The Company was granted an unprecedented exemption from the Government of Canada that will permit it to conduct domestic air services while having up to 49% foreign voting interests.
For more information on Jetlines, please visit our website at www.jetlines.ca.
ON BEHALF OF THE BOARD
"Mark J. Morabito"
Canada Jetlines is part of the King & Bay group of companies. King & Bay is a merchant bank that specializes in identifying, funding, developing and supporting growth opportunities in the resource, aviation, and technology sectors.
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Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward-looking information contained in this news release includes, but is not limited to, statements with respect to the business plan, the ability to offer ultra-low fares, potential route destinations, ticket sales and future airline operations of the Company.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the receipt of financing to commence airline operations, the accuracy, reliability and applicability of the Jetlines’ business model; the timely receipt of governmental approvals, including the receipt of approval from regulators in Canada, the United States, Mexico and other jurisdictions where Jetlines may operate; the timely commencement of operations by Jetlines and the success of such operations; the ability of Jetlines to implement its business plan as intended; the legislative and regulatory environments of the jurisdictions where the Jetlines will carry on business or have operations; the impact of competition and the competitive response to the Jetlines’ business strategy; and the availability of aircraft. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to acts of God, the impact of general economic conditions, changing domestic and international airline industry conditions, volatility of fuel prices, increases in operating costs, terrorism, pandemics, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement Jetlines’ operational strategy, the ability to attract qualified management and staff, labour disputes, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, risks related to the acceleration of payments under the agreement with Boeing to acquire 737-Max aircraft, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund operations may not be obtained and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.