Can't say I'm surprised, they been struggling since the beginning to get off the ground. If they can't do it in this environment, they won't last long.
"Jetlines assembled a world-class aviation board of directors with experience from some of the world’s best ultra-low-cost carriers (ULCCs), including Wizz Air, easyJet and Spirit among others;"
"All of these factors have led to increased demand and decreased supply of used aircraft available for lease. Jetlines previously secured aircraft under an LOI; however, the lessor was unable to provide a definitive delivery date."
Why is there ANY foreign ownership limits? In airlines, telecommunications, or anything else?
Canada is bleating about protectionism in the USA?
Take a good look in the mirror.
Canada is one of THE worst in that regard worldwide.
https://www.flightglobal.com/news/artic ... 0s-440925/
Last I checked, lessors rarely leased assets to ventures / individuals with no visible means of being able to pay for them.
Put it another way.
If Jetballs had the $75m in the bank they need to launch, (and keep in mind Roots Air blew through almost $35m in start up costs and about 33 days of flight ops before failing), lessors would have aircraft available for them.
No ticky, no laundry.
If you have the cash in the bank, which Jetballs doesn't, here's a few places to look for a few 737-800's.....
http://www.myairlease.com/available/ava ... _lease_737
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dialdriver wrote: ↑Sun Mar 18, 2018 7:48 pmIt's this:
https://www.urbandictionary.com/define. ... %20hominem
I guess you didn't read past Jetballs because it seems to me he used logic and intelligence in his argument.
Jetlines has been a farce since day one. Realitychex is absolutely right - they don't have any money and never did have any money. They did sign a LOI for 2 planes, but they have done that a few times. Big deal......anybody can sign an LOI - but when it comes to pony up the dough - that's when you find out if it's all smoke and mirrors or not.
As a result, the Canadian Securities regulator requires Jetlines, who’s penny stock trades as JET, to disclose all material news and transactions that could influence the stock price in a timely fashion. These disclosures are all available on SEDAR.com free of charge.
Until you see some sort of reference in SEDAR to Jetlines successful completion of some sort of financing that raised c$50mm, and probably more like c$75mm, the venture remains 100% pie in the sky, as has been the case since late 2013.
Any other claims made by the company without having the requisite finances in place, as required by the CTA, are simply unmitigated nonsense not to mention further evidence of the lack of credibility of those continuing to promote the venture.
The fact that the media continues to buy into this fairy tale, in the face of the above indicates how pointless it is to believe much of anything the media prints these days.
Five minutes reviewing JET’s SEDAR file is all the research required by “journalists” to recognize Jetlines claims are false and patently absurd.
No financial information has been provided since the 3Q MD&A was published on SEDAR on Nov 28th 2017, for the quarter ended Sept 30 2017.
The only information since then have been 6 press releases, the most recent one issued on March 13th to advise the world that they had yet to lease any aircraft, largely because they had no capital with which to do so.