Gawd I hope you're a better pilot than you are an economist otherwise your passengers are in grave danger.FL7377 wrote:Do I want cheap airfare? darn right! I also want cheap cars, cheap clothes, cheap food, cheap taxes ect.. Its how we run capitalism there comrade! If you want a scapegoat for capitalism's woes blame the global central banks for having Fiat currency with a policy of Quantitative Easing.
I'm expecting Jetlines to do the same thing for canadian aviation as Target did for canadian retail. Target came in, droped several billion and died, now Walmart, Sobeys and Loblaws get to feast on the corps. I'm with you that Canada can only support a duopoly of airlines. However I'm expecting Jetlines to come in, drop several hundred million, increase the market, then die, and AC/WJ will feast on the corpse of Jetlines.
Long term, I'm only seeing this as a positive thing! Go Jetlines, go!
Canada Jetlines
Moderators: sky's the limit, sepia, Sulako, North Shore
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Re: Canada Jetlines
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Re: Canada Jetlines
Inovent Commences Court Proceedings Foreclosing on All Assets of Canada Jetlines Ltd.
http://finance.yahoo.com/news/inovent-c ... 00624.html
http://finance.yahoo.com/news/inovent-c ... 00624.html
How do you go 205 kts TAS on 32 gal/hr without turbos!
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Re: Canada Jetlines
The good ship Canada Jetlines:
Glug, Glug, Glug, Glug..........
Glug, Glug, Glug, Glug..........
Re: Canada Jetlines
Don't worry guys - It's a minor glitch. No big deal.
Right?.................Right?.......................GUYS???
I wonder what the cheerleaders can come up with now?
Right?.................Right?.......................GUYS???
I wonder what the cheerleaders can come up with now?
- Old fella
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Re: Canada Jetlines
midwingcrisis wrote:Inovent Commences Court Proceedings Foreclosing on All Assets of Canada Jetlines Ltd.
http://finance.yahoo.com/news/inovent-c ... 00624.html
What assets did they have outside of a WEB page and a room number at YVR International...............
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Re: Canada Jetlines
Jetlines’ Response to Capital Pool Company Allegations
http://www.jetlines.ca/2015/03/16/jetli ... legations/
March 16, 2015
Although it has not yet been served with any legal process, Jetlines wishes to advise that it is aware of a Petition against Jetlines in the Supreme Court of British Columbia dated March 12, 2015 which was filed with the court by Inovent Capital Inc. (Inovent). Jetlines has yet to have released to it by the Court Registry the important supporting documents to the Petition which were filed with the courts.
Inovent is a capital pool company, specifically a shell company that has completed an initial public offering, raised a modest amount of money and obtained a listing on the TSX-V exchange, with the sole purpose of completing a qualifying transaction. On June 27, 2014, Inovent and Jetlines executed a Letter of lntent whereby Jetlines would “go public” by a reverse takeover transaction which would be Inovent’s required qualifying transaction. The non-binding Letter of Intent was superseded by an amalgamation agreement on September 12, 2014. Jetlines regarded the transaction as an expeditious way to “go public” in a relatively short period of time. The transaction was documented by the normal commercial agreements for this type of transaction.
When market conditions resulted in delays in the completion of the reverse takeover transaction, Jetlines requested that Inovent extend the date to complete the transaction beyond the contractual “outside date” of January 31, 2015. When Jetlines received responses from Inovent to this extension request the responses were, in the opinion of Jetlines, inappropriate and not consistent with the expected business relationship of a trusted co-venture partner in the important business of launching an operating airline. Accordingly, Jetlines terminated the agreement in accordance with its terms.
One of the commercial documents for the transaction was a general security agreement in favour of Inovent for certain specified amounts. Jetlines fulfilled its obligations under the general security agreement and, in its opinion, is entitled to have Inovent’s security interest discharged. Jetlines is taking the necessary steps to discharge the general security agreement.
Jetlines has at all times acted legally, ethically and honestly and states that Inovent’s claims are without merit and Jetlines intends to take an appropriate legal actions to respond to the meritless assertions of Inovent.
About Canada Jetlines
With pending successful funding and regulatory approval Jetlines plans to launch an airline in Canada in 2015 that applies Ultra-Low Cost Carrier operating principles. Focusing on stimulating passenger demand through low priced airfares Jetlines will generate additional revenue from the sale of ancillary products and services. The intent is to select routes that avoid direct competition with existing Canadian carriers while maintaining cost discipline to keep operating expenses low.
For more information please contact:
David Solloway
President
Tel: 604-273-5387
david.solloway@jetlines.ca
www.jetlines.ca
http://www.jetlines.ca/2015/03/16/jetli ... legations/
March 16, 2015
Although it has not yet been served with any legal process, Jetlines wishes to advise that it is aware of a Petition against Jetlines in the Supreme Court of British Columbia dated March 12, 2015 which was filed with the court by Inovent Capital Inc. (Inovent). Jetlines has yet to have released to it by the Court Registry the important supporting documents to the Petition which were filed with the courts.
Inovent is a capital pool company, specifically a shell company that has completed an initial public offering, raised a modest amount of money and obtained a listing on the TSX-V exchange, with the sole purpose of completing a qualifying transaction. On June 27, 2014, Inovent and Jetlines executed a Letter of lntent whereby Jetlines would “go public” by a reverse takeover transaction which would be Inovent’s required qualifying transaction. The non-binding Letter of Intent was superseded by an amalgamation agreement on September 12, 2014. Jetlines regarded the transaction as an expeditious way to “go public” in a relatively short period of time. The transaction was documented by the normal commercial agreements for this type of transaction.
When market conditions resulted in delays in the completion of the reverse takeover transaction, Jetlines requested that Inovent extend the date to complete the transaction beyond the contractual “outside date” of January 31, 2015. When Jetlines received responses from Inovent to this extension request the responses were, in the opinion of Jetlines, inappropriate and not consistent with the expected business relationship of a trusted co-venture partner in the important business of launching an operating airline. Accordingly, Jetlines terminated the agreement in accordance with its terms.
One of the commercial documents for the transaction was a general security agreement in favour of Inovent for certain specified amounts. Jetlines fulfilled its obligations under the general security agreement and, in its opinion, is entitled to have Inovent’s security interest discharged. Jetlines is taking the necessary steps to discharge the general security agreement.
Jetlines has at all times acted legally, ethically and honestly and states that Inovent’s claims are without merit and Jetlines intends to take an appropriate legal actions to respond to the meritless assertions of Inovent.
About Canada Jetlines
With pending successful funding and regulatory approval Jetlines plans to launch an airline in Canada in 2015 that applies Ultra-Low Cost Carrier operating principles. Focusing on stimulating passenger demand through low priced airfares Jetlines will generate additional revenue from the sale of ancillary products and services. The intent is to select routes that avoid direct competition with existing Canadian carriers while maintaining cost discipline to keep operating expenses low.
For more information please contact:
David Solloway
President
Tel: 604-273-5387
david.solloway@jetlines.ca
www.jetlines.ca
How do you go 205 kts TAS on 32 gal/hr without turbos!
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Re: Canada Jetlines
David,midwingcrisis wrote:Jetlines’ Response to Capital Pool Company Allegations
http://www.jetlines.ca/2015/03/16/jetli ... legations/
March 16, 2015
Although it has not yet been served with any legal process, Jetlines wishes to advise that it is aware of a Petition against Jetlines in the Supreme Court of British Columbia dated March 12, 2015 which was filed with the court by Inovent Capital Inc. (Inovent). Jetlines has yet to have released to it by the Court Registry the important supporting documents to the Petition which were filed with the courts.
Inovent is a capital pool company, specifically a shell company that has completed an initial public offering, raised a modest amount of money and obtained a listing on the TSX-V exchange, with the sole purpose of completing a qualifying transaction. On June 27, 2014, Inovent and Jetlines executed a Letter of lntent whereby Jetlines would “go public” by a reverse takeover transaction which would be Inovent’s required qualifying transaction. The non-binding Letter of Intent was superseded by an amalgamation agreement on September 12, 2014. Jetlines regarded the transaction as an expeditious way to “go public” in a relatively short period of time. The transaction was documented by the normal commercial agreements for this type of transaction.
When market conditions resulted in delays in the completion of the reverse takeover transaction, Jetlines requested that Inovent extend the date to complete the transaction beyond the contractual “outside date” of January 31, 2015. When Jetlines received responses from Inovent to this extension request the responses were, in the opinion of Jetlines, inappropriate and not consistent with the expected business relationship of a trusted co-venture partner in the important business of launching an operating airline. Accordingly, Jetlines terminated the agreement in accordance with its terms.
One of the commercial documents for the transaction was a general security agreement in favour of Inovent for certain specified amounts. Jetlines fulfilled its obligations under the general security agreement and, in its opinion, is entitled to have Inovent’s security interest discharged. Jetlines is taking the necessary steps to discharge the general security agreement.
Jetlines has at all times acted legally, ethically and honestly and states that Inovent’s claims are without merit and Jetlines intends to take an appropriate legal actions to respond to the meritless assertions of Inovent.
About Canada Jetlines
With pending successful funding and regulatory approval Jetlines plans to launch an airline in Canada in 2015 that applies Ultra-Low Cost Carrier operating principles. Focusing on stimulating passenger demand through low priced airfares Jetlines will generate additional revenue from the sale of ancillary products and services. The intent is to select routes that avoid direct competition with existing Canadian carriers while maintaining cost discipline to keep operating expenses low.
For more information please contact:
David Solloway
President
Tel: 604-273-5387
david.solloway@jetlines.ca
http://www.jetlines.ca
Now all you need is:
-Airplanes
-Pilots
-Cabin Crew
-Staff
-Office space ( that closet at YVR doesn't count BTW)
-Maintenance
-Maintenance facility
-Slot times
And you're still calling a 2015 start? Gutsy move Mav.
- Stoptheworld
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Re: Canada Jetlines
...and money...a whole lotta money
Stop the World - I Wanna Get Off
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Re: Canada Jetlines
I have a aviation blog that talks about low cost carriers (LCC) and off course Canada Jetline and Jet Naked
www.aviationdoctor.wordpress.com
www.aviationdoctor.wordpress.com
Re: Canada Jetlines
What a F**king laughing stock - it's worse than I thought.........
It's all token change - no wonder they can't get any big money. All those years in aviation and they still don't have a brain cell between them.
We dont believe in this - but please fund so we can try. It might work.
2.5 million from 185 investors since 2013...........And the best was 192,000 from the CEO????????Getting off the ground will be much easier said than done. A Globe and Mail investigation into Jetlines’ fundraising drive shows an array of relatively small investments, including money from some of the company’s executives, friends, family and a wide assortment of contributors. Some of the investments have been token amounts of less than $5,000.
Jetlines hopes to attract $3-million in funding this spring, but that would still be far short of the goal to raise $50-million to finance the launch.
The Vancouver-based company, which is applying to trademark the motto Flying Your Way, has raised almost $2.5-million in total since the fall of 2013. Jetlines chief executive officer Jim Scott and his wife, Holly, have invested $192,000 for 1.3 million shares, or a 16-per-cent stake.
The list of possible major investors has been shrinking, however. Halifax-based charter carrier CanJet, which got stung during a previous foray into scheduled service and closed those operations in 2006, won’t be doing any deal with Jetlines, two industry sources said. And potential foreign investors such as Irelandia Aviation and Indigo Partners don’t have any interest in pouring money into Jetlines.
Since July 30, 2014, Jetlines has raised $1-million from 85 purchasers spread over three issues of securities, regulatory filings show.
Since 2013, there have been nearly 185 investors in the fledgling carrier. Almost $5,000 has been invested by Vancouver lawyer Kevin Sorochan, through Soro Law Corp. Mr. Sorochan does legal work for Jetlines. His father Donald, a lawyer who serves on the board of directors at Jetlines, invested $30,000 while Jetlines interim chairman John Sutherland invested $10,000.
It's all token change - no wonder they can't get any big money. All those years in aviation and they still don't have a brain cell between them.
We dont believe in this - but please fund so we can try. It might work.
Re: Canada Jetlines
According to stockwatch - Mr Solloway is now being sued by both TD and BOM because he hasn't paid his credit cards. $28,000 to TD and $22,000 to BOM.
Re: Canada Jetlines
I'm starting to wonder if this thing actually does start carrying people, if it will end up like East Coast Airways. WHICH brings me back to something a friend told me once (a former safety inspector for TC) when I asked him about East Coast Airways. His response was "You should see all the files and paper work Transport has on airlines that never actually got off the ground..."
Re: Canada Jetlines
boeingboy wrote:What a F**king laughing stock - it's worse than I thought.........
2.5 million from 185 investors since 2013...........And the best was 192,000 from the CEO????????Getting off the ground will be much easier said than done. A Globe and Mail investigation into Jetlines’ fundraising drive shows an array of relatively small investments, including money from some of the company’s executives, friends, family and a wide assortment of contributors. Some of the investments have been token amounts of less than $5,000.
Jetlines hopes to attract $3-million in funding this spring, but that would still be far short of the goal to raise $50-million to finance the launch.
The Vancouver-based company, which is applying to trademark the motto Flying Your Way, has raised almost $2.5-million in total since the fall of 2013. Jetlines chief executive officer Jim Scott and his wife, Holly, have invested $192,000 for 1.3 million shares, or a 16-per-cent stake.
The list of possible major investors has been shrinking, however. Halifax-based charter carrier CanJet, which got stung during a previous foray into scheduled service and closed those operations in 2006, won’t be doing any deal with Jetlines, two industry sources said. And potential foreign investors such as Irelandia Aviation and Indigo Partners don’t have any interest in pouring money into Jetlines.
Since July 30, 2014, Jetlines has raised $1-million from 85 purchasers spread over three issues of securities, regulatory filings show.
Since 2013, there have been nearly 185 investors in the fledgling carrier. Almost $5,000 has been invested by Vancouver lawyer Kevin Sorochan, through Soro Law Corp. Mr. Sorochan does legal work for Jetlines. His father Donald, a lawyer who serves on the board of directors at Jetlines, invested $30,000 while Jetlines interim chairman John Sutherland invested $10,000.
It's all token change - no wonder they can't get any big money. All those years in aviation and they still don't have a brain cell between them.
We dont believe in this - but please fund so we can try. It might work.
haha yup, its not going to happen it by the sounds of it. When a an airline startup "hopes" for $3 mil, you know something is wrong..
Raising capital is easy - for a good idea. If you have trouble raising capital, what does that say. lol
Oh well, I guess AC and WJ will have to grow the market on thier own.
- complexintentions
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Re: Canada Jetlines
I have no love of ultra-low cost airlines. I couldn't afford the starting wages of the so-called "majors" in Canada, ffs. So not defending this venture as a business, whatsoever. Even as Canada's economy looks poised to become a true ultra-low wage environment.
https://www.linkedin.com/pulse/crazy-ca ... nsharamani
But why is Canada such a nation of dickheads that take pleasure in the misfortune of others? An entrepreneur trying to make a new business, who believes in it to the point he'll take on massive debt on his credit cards to desperately try and keep it alive - this is who we make fun of?
Pretty easy to do from behind a keyboard. Kinda wonder how many businesses some of these folks have attempted to start. Especially in the socialist paradise of Canuckistan.
The relevance - or lack of it - of this proposed venture isn't my point. But the smugness of people who are basically just wage-slaves, at the misfortune of people who actually take risks, is an embarrassment.
https://www.linkedin.com/pulse/crazy-ca ... nsharamani
But why is Canada such a nation of dickheads that take pleasure in the misfortune of others? An entrepreneur trying to make a new business, who believes in it to the point he'll take on massive debt on his credit cards to desperately try and keep it alive - this is who we make fun of?
Pretty easy to do from behind a keyboard. Kinda wonder how many businesses some of these folks have attempted to start. Especially in the socialist paradise of Canuckistan.
The relevance - or lack of it - of this proposed venture isn't my point. But the smugness of people who are basically just wage-slaves, at the misfortune of people who actually take risks, is an embarrassment.
I’m still waiting for my white male privilege membership card. Must have gotten lost in the mail.
Re: Canada Jetlines
Its worth lampooning something thats only going to do harm to the aviation industry. The possible harm is that this company will drive wages down because of its ULCC model, making it harder for people in the aviation industry to make a living. Would you want a competing company to come in and undercut your company in terms of sale prices, which would then force your company to cut back its most expensive cost, the people, your wage?complexintentions wrote:But why is Canada such a nation of dickheads that take pleasure in the misfortune of others? An entrepreneur trying to make a new business, who believes in it to the point he'll take on massive debt on his credit cards to desperately try and keep it alive - this is who we make fun of?
Try calling a regional pilot in the US, or some up here even, a 'wage-slave' and that they deserve low pay because their bosses are taking gargantuan risks. If thats how you see it, thats embarrassing.complexintentions wrote:The relevance - or lack of it - of this proposed venture isn't my point. But the smugness of people who are basically just wage-slaves, at the misfortune of people who actually take risks, is an embarrassment.
- cdnpilot77
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Re: Canada Jetlines
One place I fly into regularly is MYAT. It is served by Silver Airways from the U.S. I thought this may be a service which might be handy to me occasionally. So I decided to look into it. The f/o on the Be02 fleet is making $18900/yr and the $22,000/yr on the Saab. These crews are forced to domicile in the inexpensive (sarcastic) areas like ft lauderdale. So, my question is, how do we know that a crew is prepared physically and mentally for a flight, when they could very well have to live in a shelter and get food from a food bank? (I wish that was sarcastic)
I don't think I will be using that service. Does anyone want to see that happen in Canada? Complexintentions, I hope not and if they do, I hope we ridicule them right out of the country. If that makes us bad people then so be it, but does it make us worse than them and "dickheads" because the rich guy is just trying to make a quick million while the worker bees barely make a penny? I think not!
I don't think I will be using that service. Does anyone want to see that happen in Canada? Complexintentions, I hope not and if they do, I hope we ridicule them right out of the country. If that makes us bad people then so be it, but does it make us worse than them and "dickheads" because the rich guy is just trying to make a quick million while the worker bees barely make a penny? I think not!
Re: Canada Jetlines
......
Last edited by awitzke on Mon May 11, 2015 9:57 am, edited 1 time in total.
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Re: Canada Jetlines
That is why you will never see him have anything to do with this goat rope...awitzke wrote:JP doesn't like his ventures to fail.
- Boreas
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Re: Canada Jetlines
Ahhhhh zombie threads....
Looks like they might start flying in 2019. Apparently the aircraft lease(s) is moving along.
Anyone care to chime in here with the standard "rabble rabble"? Anyone own any stock?
Looks like they might start flying in 2019. Apparently the aircraft lease(s) is moving along.
Anyone care to chime in here with the standard "rabble rabble"? Anyone own any stock?