Jetlines Appoints Industry Expert to Commercial Team

January 8, 2019

VANCOUVER, BRITISH COLUMBIA, Canada Jetlines Ltd. (JET: TSX-V) (the “Company” or “Jetlines”) is pleased to announce the appointment of Mr. Jordi Porcel as Chief Sales, Marketing, and Customer Experience Officer.

CEO Javier Suarez commented, “I am thrilled to welcome Jordi to the Jetlines team as we build out our commercial department. Jordi’s extensive experience working for fast-growing low-cost carriers, as well as his vocation to design and deliver the best customer experience, is fantastic news for Jetlines.”

Javier Suarez and Mr. Porcel worked together at Vueling from 2012 and 2014. Mr. Porcel was then Vueling’s Chief Sales Officer. Together, they helped Vueling expand rapidly and profitably in Europe going through the global financial crisis. Mr. Porcel was responsible for all non-direct sales, accounting for 57% of Vueling’s revenue totalling approximately €700 million. During his tenure, Mr. Porcel led the study, design and initial work on a new platform to manage group booking requests for the airline, including tour operators and charter business. In addition, he streamlined processes between key commercial departments for more efficient and cost-effective day-to-day operations.

More recently, reporting to the Chief Executive Officer, Mr. Porcel was the head of Europe at Air Arabia, a fast growing and profitable low-cost carrier. Mr. Porcel was responsible for implementing the Company’s strategic sales, marketing and communication initiatives in Europe. During his tenure, Mr. Porcel helped grow the European business by 26%. Prior to his role at Air Arabia, Mr. Porcel was the General Manager of Spain at Etihad Airways from 2014 to 2016. He was responsible for initiating Etihad’s operations in Spain and accountable for managing all commercial activities in the new region. From 1988 to 2011, Mr. Jordi Porcel worked at British Airways where he held progressively senior positions, ultimately holding the position of Regional Commercial Manager for Spain, Portugal, and Latin America leading the integration of the Commercial teams with Iberia, after the merge of the two companies under the IAG Holding.

Mr. Porcel holds an AMP (Advanced Management Program) from IESE Business School – Universidad de Navarra in Barcelona, an Executive MBA from IE Instituto de Empresa in Madrid, a BA from WITS University in Johannesburg, and a Commercial and Marketing degree from ESEM School in Madrid. He also studied at the IBM Business School in London.

In connection with his appointment, Mr. Porcel will be granted 250,000 Restricted Share Units (“RSUs”). The RSUs vest over a three-year period from the date of grant, with one third vesting at the end of each year during the three-year period.

 

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. The Company plans to commence operations with the Airbus A320 fleet, the most widely used aircraft for ultra-low cost carriers worldwide. 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”

Executive Chairman

 

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.

 

For more information, please contact:

Toll Free: 1-833-226-5387

Email: investor.relations@jetlines.ca

 

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 commencement of operations and the success of expected future operations of the Company.

In certain cases, forward-looking information can be identified by the use of words such as “plans”, “expects” “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or ” or variations of such words and phrases or statements 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 success of the Jetlines’ business model; the timely receipt of governmental approvals; the timely commencement of operations by Jetlines and the success of such operations; 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, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, future relations with SmartLynx, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, 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 disputes under the agreement with Boeing to acquire 737-Max aircraft, 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.