Canada Jetlines Appoints Former Spirit Airlines Senior Executive as Independent Director and Key Talent to Advisory Board
VANCOUVER, BRITISH COLUMBIA, Canada Jetlines Ltd. (JET: TSX-V) (JETMF: OTCQB) (the “Company” or “Jetlines”) is pleased to announce the appointment of Tony Lefebvre as an independent director, effective February 5, 2018. Mr. Lefebvre brings over 27 years of executive experience, including eight years with Spirit Airlines, a leading ultra low-cost carrier based in the United States.
“Mr. Lefebvre is a welcome addition to the board,” stated Mark Morabito, Executive Chairman of Canada Jetlines. “His extensive experience in the ultra-low cost airline industry will be invaluable to the company as we commence and grow operations.”
Tony held progressively senior executive positions with Spirit Airlines, most notably Chief Operating Officer. He was responsible for Spirit Airlines operating functions including: flight operations, maintenance, inflight, airport operations, systems operations control, safety and security. Tony was part of the senior management team that successfully publicly listed the company on the NASDAQ and lead cost cutting initiatives resulting in a sustained sub $0.06 CASM (Cost Per Available Seat Mile). Prior to working with Spirit Airlines, Tony worked with US Airways for 15 years as a Managing Director. In this role he led US Airways’ European operations across 16 countries, covering sales and marketing, 28 airport operations, call centres sales and customer support, finance and alliance management.
Tony is currently President and Chief Operating Officer at BBA Aviation. He is responsible for BBA’s Global Engine Services and Signature MRO businesses, providing flight support services to business aircraft owners, government and commercial aviation customers.
Tony holds a Bachelor of Science in Business Administration and Marketing from the University of Maryland.
The Company has also appointed Warren Kinsella and Tayfun Eldem to its Advisory Board.
Warren Kinsella is the president of Daisy Group. Previously, he was a partner at the law firm of McMillan Binch, in its Public Policy Group, and has also worked as a consultant, journalist, and political Chief of Staff in Canada. Mr. Kinsella has considerable experience representing the airline industry. For a number of years, he was United Airlines’ chief consultant in Canada. In addition, Mr. Kinsella was the chief government and public relations advisor to the Toronto Port Authority during the period when Porter Airlines was taking off. Mr. Kinsella received a Bachelor of Journalism (Honours) from Carleton University and his law degree from the University of Calgary; he has also completed executive education courses at Harvard’s law school and its school of business.
Tayfun Eldem is a seasoned business executive located in Montreal, Quebec. He has held senior roles with several large multinational organizations. Mr. Eldem has significant experience in operations management, business development, capital markets, government relations, project management and technical marketing. Mr. Eldem was recently reappointed as the Chief Executive Officer of Toronto Stock Exchange listed Alderon Iron Ore Corp. Previously, Mr. Eldem was Managing Director and Associate at Hatch Ltd., leading Hatch’s business development, client engagement and project delivery functions in Eastern North America as well as overseeing the business globally for the iron ore and coal commodities. He previously worked for the Iron Ore Company of Canada, a Rio Tinto subsidiary, for more than 20 years. During this period, Mr. Eldem held many senior roles including Vice President, Expansion Projects & Engineering and COO. Mr. Eldem is a professional engineer who graduated from Dalhousie University.
Jetlines has granted a total of 225,000 stock options to Mr. Lefebvre in his role as a director. The stock options have been issued for a five-year term, with one quarter vesting every six months from the date of grant.
Jetlines also announces the resignation of Mr. Mark Lotz from the Board of Directors and would like to thank him for his significant contribution to the Company’s development to date.
About Canada Jetlines Ltd.
Canada Jetlines is set to become Canada’s first 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 airports that Jetlines intends to utilize, the routes that Jetlines intends to fly, Jetlines business plan, Jetlines ability to offer ultra-low fares, 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 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; the completion of financing for airline operations; 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, 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.