VANCOUVER, British Columbia, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Canada Jetlines Ltd. (JET: TSX-V) (the “Company” or “Jetlines”) is pleased to announce that the Company has signed a definitive agreement with Radixx International, Inc. (“Radixx”), a world-class technology company as its Reservation System provider.
Radixx newest reservation system Radixx Res, includes a booking engine that allows the Airline to manage all passenger bookings, and a customized website and mobile application that will allow customers to make their bookings paying only for the services they want to receive.
The Radixx platform uses innovative and cost-effective solutions that strongly align with the ultra-low cost business model. In addition, its flexibility, ability to scale, and ability to offer unique merchandizing tools made Radixx a clear partner of choice for Jetlines. These features will allow Jetlines to operate at maximum efficiency in order to minimize costs throughout all points of the customer journey, giving the Company a competitive cost structure to attract and retain future customers.
“We are very excited to announce this strategic partnership with Radixx. This is a very important milestone for Jetlines; it is the foundation of our all our commercial systems,” stated CEO, Javier Suarez. “Their new reservation system offers a full suite of services including a new responsive website and mobile application tailored to the needs of our customers, all while allowing Jetlines to maintain the necessary low-cost structure needed to provide our customers with ultra-low airfares.”
John Elieson, Radixx CEO, commented “Radixx is committed to being a valued partner of Jetlines. We’ve been impressed by the accomplished management team and their business plan, and look forward to partnering with them.”
Jetlines also announces that it will grant 500,000 Restricted Share Units (“RSUs”) to certain directors and officers. The RSUs vest over a two-year period from the date of grant, with one half vesting at the end of each year during the two-year period.
About Radixx
Founded in 1993, Radixx International, Inc., headquartered in Orlando, Florida, combines an innovative technology approach with unique partnership models enabling airlines of all sizes and business models to be effective retailers and efficient operators. Radixx offers world-class, browser-based, Internet Booking Engine, Passenger Services System, and Departure Services Solutions, natively designed to help airlines increase their profitability and maximize productivity through expanded distribution services. The systems micro-services based architecture allows airlines to auto-scale and rapidly deploy to quickly adapt to their needs. Since 2016, Radixx has the investment of TA Associates, a leading global growth private equity firm, and is now delivering its sixth-generation passenger service system. Radixx’s fully integrated, cloud-based solutions support all airline business models and currently hosts over 35 airlines across six continents. For more information, visit www.radixx.com.
About Canada Jetlines Ltd.
Canada Jetlines is set to become Canada’s first true Ultra-Low Cost Carrier (ULCC) airline, with plans to operate flights across Canada and provide non-stop service from Canada to the United States, Mexico and the Caribbean. The Company plans to commence operations with the Airbus A320 fleet, the most widely used aircraft for ultra-low cost carriers worldwide. Jetlines is led by a board and management team with extensive experience and expertise in low-cost airlines, start-ups and capital markets. The Company was granted an unprecedented exemption from the Government of Canada that will permit it to conduct domestic air services while having up to 49% foreign voting interests.
For more information on Jetlines, please visit our website at www.jetlines.ca.
ON BEHALF OF THE BOARD
"Mark J. Morabito"
Executive Chairman
Canada Jetlines is part of the King & Bay group of companies. King & Bay is a merchant bank that specializes in identifying, funding, developing and supporting growth opportunities in the resource, aviation, and technology sectors.
For more information, please contact:
Canada Jetlines Ltd.
Toll Free: 1-833-226-5387
Email: investor.relations@jetlines.ca
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, statements with respect to the implementation and benefits of the Radixx reservation system, the business plan, the maintenance of a competitive cost structure, the ability to offer ultra-low fares and future airline operations of the Company.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state 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 commence airline operations, the accuracy, reliability and applicability of the Jetlines’ business model; the timely receipt of governmental approvals, including the receipt of approval from regulators in Canada, the United States, Mexico and other jurisdictions where Jetlines may operate; the timely commencement of operations by Jetlines and the success of such operations; the ability of Jetlines to implement its business plan as intended; the legislative and regulatory environments of the jurisdictions where the Jetlines will carry on business or have operations; the impact of competition and the competitive response to the 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 acts of God, the impact of general economic conditions, changing domestic and international airline industry conditions, volatility of fuel prices, increases in operating costs, terrorism, pandemics, 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 the necessary licenses and permits, risks related to disputes under the agreement with Boeing to acquire 737-Max aircraft, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund operations may not be obtained 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 actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or 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 or revise any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.