Jetlines

[manwest]

Update on Jetlines

http://www.jetlines.ca/index.html

Interesting background of princpals.

[mrlupin]

If fuel, leasing costs,maintenance, airport and navigation fees and are the similar for most airlines, How would one get to 40% lower price? Wages usually represent between 18-22% of expenses... Even with employees working for free, it would be hard to come up with those sorts of savings.

Are the aircraft flying 18 hours a day? Are they going to 156 seats?

[ModerateChop]

Inovent and Jetlines have previously entered into a letter of intent (“LOI”) pursuant to which the parties have agreed to negotiate the terms of a business combination transaction (the “Proposed Transaction”). Inovent is a TSX Venture Exchange (“TSXV”) capital pool company. Jetlines is a start-up airline aiming to become Canada’s first ultra-low cost carrier. In addition, Inovent wishes to provide the following further updates in respect of the Proposed Transaction:

1. The exclusivity period and the periods for completing definitive transaction

documents and due diligence have been extended from August 29, 2014 to

September 12, 2014;

2. Inovent, having received TSXV acceptance, has advanced to Jetlines a secured

refundable deposit of $120,000;

3. Jetlines has engaged Euro Pacific Canada as its exclusive advisor for the

Proposed Transaction;

4. Mr. William Lee has resigned as a director of Jetlines; and

5. The TSXV has agreed to waive its sponsorship requirement in respect of the

Proposed Transaction.

So what happens after September 12 if the deal falls through ?

Why did one of the directors resign before it's even started ?

[Mitch Cronin]

...aiming to become Canada’s first ultra-low cost carrier

Too late. I doubt Nationair was the first, and I knew Jetsgo wouldn't be the last, but anyone claiming now to be aiming for "first" is using some strange logic!

[AvWatcher]

As soon as you see a start-up airline calling itself a ULCC with a CEO, President, COO, CAO, CFO and a VP OPs - you know they aren't serious.

[Zan Vetter]

I was thinking the same thing. With 10 executives you'd think they had 50 airplanes already.

[Guest]

As soon as you see a start-up airline calling itself a ULCC with a CEO, President, COO, CAO, CFO and a VP OPs - you know they aren't serious.

They saved a lot of money on web site development. Their site was designed in 1995.

[thor]

So what happens after September 12 if the deal falls through ?

Better hope Jet Naked makes a go of it then.