Canada Jetlines Expands Fleet with Leasing of Two Fuel-Efficient A320-214 Aircraft

TORONTO, ON / ACCESSWIRE / January 4, 2024 / Canada Jetlines Operations Ltd. (NEO:CJET) ("Canada Jetlines" or the "Company") one of Canada's leading leisure airlines, is proud to announce the addition of two new A320-214 aircraft to its fleet. The Company has signed lease agreements with CMB Financial Leasing ("CMBFL"), also known as CMB Leasing, marking a strategic move to enhance the airline's operational capabilities and meet the growing demand for affordable air travel.

The A320-214 aircraft, scheduled for delivery in Q2 of 2024, will contribute to Canada Jetlines' commitment to expanding its fleet size in the coming year. This development aligns with the airlines' mission to provide reliable and cost-effective travel options for travelers.

Eddy Doyle, CEO of Canada Jetlines, expressed enthusiasm about the fleet expansion, stating, "This signifies a significant step forward in our growth strategy. The addition of two A320-214 aircraft underscores our commitment to meeting the increasing demand for affordable air travel, while maintaining our commitment to safety and service excellence."

The A320-214 aircraft is renowned for its fuel efficiency, advanced technology, and spacious cabin design, offering an enhanced travel experience for passengers. The aircraft will be configured with 174 all-economy seating, including 18 expanded legroom economy seats. The aircraft will be deployed to serve Mexico, Jamaica, Florida and Las Vegas routes, as well as for charter services. Canada Jetlines looks forward to introducing these new additions to its fleet and providing customers choice for leisure-based travel.

About Canada Jetlines
Canada Jetlines Operations Ltd. (NEO:CJET), trading as "Canada Jetlines," is a Canadian leisure airline committed to providing an exciting travel experience to its passengers. With a growing network of destinations, Canada Jetlines is dedicated to connecting Canadians with some of the world's most captivating and sought-after locations.

More information on Canada Jetlines including its growing list of destinations can be found on www.jetlines.com. You can follow Canada Jetlines on all social media platforms and follow #CanadaJetlines for the latest news and updates.

About CMB Financial Leasing (CMBFL)
CMB Financial Leasing, also known as CMB Leasing, was founded in Shanghai in April 2008 and operates as the leasing arm of China Merchants Bank Co.,LTD. As a major global commercial bank listed on both the Shanghai and Hong Kong Stock exchanges, CMB plays a pivotal role in facilitating international partnerships and supporting the growth of businesses worldwide.

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Julie Rempel
media@jetlines.ca
204.807.2900

Investor Contact:
Alyssa Barry
invest@jetlines.ca

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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 the Company's intention to operate as a leisure airline, the number of aircraft it intends to operate, the destinations of intended flights, the frequency of flights, the enhancement of the airline's operational capabilities, growing demand for affordable air travel, expansion of its fleet size in the coming year, the Company's mission to provide reliable and cost-effective travel options for travelers; the commitment to safety and service excellence, growth plans, the timeline for the delivery of aircraft and business of Jetlines.

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 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 continue airline operations, the accuracy, reliability and success of Jetlines' business model; the continued compliance with the terms of governmental approvals; Jetlines concluding definitive agreements for additional aircraft; the success of operations by Jetlines the legislative and regulatory environments of the jurisdictions where Jetlines will carry on business or have operations; the impact of competition and the competitive response to 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, the failure of the Company to conclude definitive agreements to acquire additional aircraft, supply chain disruptions causing delays in expected timelines, the impact of the global uncertainty created by COVID-19, future relations with shareholders, 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 (or compliance with) the necessary licenses from regulatory agencies, 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 results to differ materially from those described in forward-looking information, there may be other factors that cause 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 any forward-looking information.

SOURCE: Canada Jetlines Ltd