GlobalX and Jetlines have announced that they have entered into an Arrangement Agreement pursuant to which the ownership interest of Jetlines will be distributed to the shareholders of GlobalX.
Subsequent to the completion of the transaction, the company intends to complete a private placement financing of Jetlines and seek a listing of the Jetlines shares on the TSX Venture Exchange.
Global Crossing Airlines Group Inc. provided an update on the spin-out of Canada Jetlines Operations Ltd. on Tuesday (April 20), revealing a cast of familiar industry names to manage its Canadian operations.
Eddy Doyle, for one, takes the role of Jetlines’ Chief Executive Officer.
Captain Doyle has over 35 years experience in aviation, starting his career as a pilot in the Canadian Air Force before joining Air Canada in 1989.
He played a crucial role in the Air Canada restructuring process of 2004, the negotiation with the pilots' union of the agreement that allowed the creation of Rouge and major cost control improvements.
He served in many management roles during his career at Air Canada including: Chief Pilot Member of the management team responsible for the Air Canada bankruptcy restructuring process and Vice President Flight Operations.
After retiring from Air Canada, Captain Doyle took the position of Deputy-CEO at Bamboo Airways in Vietnam, where he helped launch the airline.
Duncan Bureau has been named Jetlines’ Commercial Advisor.
Bureau was previously senior VP Sales & Distribution at Etihad; President Air Canada Rouge; Global Vice President Sales & Distribution Air Canada; Senior VP Global Sales & Distribution at Malaysia Airlines and VP Sales & Partnerships at WestJet.
Vic Charlebois takes on the role of VP Flight Operations.
Charlebois was previously employed by Jetlines as VP Flight Operations for two years.
He is the primary author of several of the critical AOC manuals that will be submitted to Transport Canada.
He also previously served in the same role with First Air, Zoom Airlines and Canada 3000 after an 18 year career in the Canadian Air Force.
Jetlines’ board of directors includes former Premier of Quebec and former Deputy Prime Minister of Canada Jean Charest, who was first elected to Canada's House of Commons in 1984.
From 2017-2018, Charest led a year-long consultation and delivered a report entitled "Vision 2025" about the future of the aerospace industry in Canada on behalf of the Aerospace Industry Association of Canada (AIAC).
The board also includes entrepreneur Ravinder Minhas and David Kruschell (President & CEO at Frontier Lodging Solutions and past partner and president of several UNIGLOBE-branded businesses)
On the closing of the Transaction, Jetlines and GlobalX will be operated as separate companies with separate management teams and Boards of Directors.
Don't miss a single travel story: subscribe to PAX today!