Canada Jetlines, a budget-friendly Canadian airline has been declared bankrupt, effective September 11, 2024. The airline made this known in a statement through the Travel Industry Council of Ontario (TICO) on Wednesday, September 18, 2024, A quick check by Travel Radar discovered the airline’s website is down.
The company reportedly owes 225 creditors a total amount of CAD11.8 million, approximately USD8.7 million. The top ten creditors are Future Bookings: CAD1,190,730 (USD876,106); Corendon Dutch Airlines BV: CAD900,000 (USD662,171); Smart AMS Inc: CAD869,620.64 (USD639,819); Pax2Go SL: CAD746,008.18 (USD548,872); CAE Civil Aviation Training Solutions, Inc.: CAD638,524.30 (USD469,784).
Others are: DF Steer Inc.: CAD612,928.66 (USD450,952); Aviation Capital Group: CAD623,931.68 (USD459,048); Square Financial Investments: CAD500,000 (USD367,870); FTAI Aviation – AirOpCo 1 Bermuda Ltd: CAD444,330.12 (USD326,911); AE Industrial Partners: CAD337,421.07 (USD248,254).
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The carrier said that customers who bought tickets directly from Canada Jetlines or through a travel agency website outside of Ontario would not be able to get a refund of their money, however, those who purchased Canada Jetlines flight tickets from a TICO-registered travel agency or website should “contact their credit card company and travel insurance provider” to apply for a refund.
Travel Radar recalls that Canada Jetlines grounded and halted all its operations in August due to the financial crisis it has been battling since May 2024. The airline lost about $14.2 million in one year, and tried securing funds to continue its operation, but failed in its bid. The airline which has now nosedived into bankruptcy started operations about 2 years ago, making it the third Canadian carrier to have ceased operations in the last 12 months.