>

Canada Jetlines Provides Corporate Update

August 12, 2024

Toronto, ON – ACCESSWIRE – August 12, 2024 – Canada Jetlines Operations Ltd. (CJET) (“Canada Jetlines” or the “Company”) is pleased to provide an update on certain recent corporate developments.

The Company's board of directors and management are actively working on potential sources of additional capital. The Company recently announced a significant corporate update on August 12, 2024, highlighting key leadership changes and outlining its plans for growth.

“We are pleased to provide this update on our recent corporate developments,” said Eddy Doyle, CEO of Canada Jetlines. “We believe that these changes will position the Company for long-term success as we continue to grow our network and connect Canadians with some of the most popular destinations in the country.”

Canada Jetlines is dedicated to providing a safe, reliable, and affordable travel experience to Canadians. The Company's growing network of destinations includes Toronto, Vancouver, Calgary, Edmonton, Winnipeg, Ottawa, Halifax, St. John's, and Moncton.

The Company ended the quarter with $53 million in current assets, an increase of $20 million from the previous quarter. This increase was primarily due to an increase in cash and cash equivalents.