TORONTO — Canada Jetlines has officially closed up shop. A spokesperson for the airline said Canada Jetlines has grounded its planes and ceased operations. It’s a quick turnaround from Monday’s statement when the airline said its board of directors and management were actively working on securing potential sources of additional capital, and gave assurances that “at this time the airline is continuing operations.
” Spokeswoman Erica Dymond now says “the company ...
pursued all available financing alternatives including strategic transactions and equity and debt financings. Unfortunately despite these efforts, the company has been unable to obtain the financing required to continue operations at this time.” Passengers with existing bookings should contact their credit card company to secure refunds, the company said.
The shutdown follows the resignation of four board members. Brigitte Goersch, Ryan Goepel, Beth Horowitz and Shawn Klerer all stepped down from the airline’s board of directors. Goersch also resigned as CEO.
Goepel, who is President and CEO at Global Crossing Airlines, was chairman of the Canada Jetlines board. In its Aug. 12 statement Canada Jetlines said: “The continuing operations of the company have been dependent upon the company’s ability to raise adequate financing and to grow the airline to the point where it can commence profitable operations.
The company has historically financed its future requirements through a combination of debt, eq.