Canada Jetlines and Lufthansa Technik secure agreement on pool repair and assistance contract

Toronto, Ontario – (Newsfile Corp. – November 17, 2021) – Canada Jetlines Operations Ltd. (NEO: CJET) (“Canada Jetlines“), the recently launched leisure carrier, has signed a long-term component and consumable parts agreement with Lufthansa Technik AG for its proposed A320 fleet. The multi-year agreement covering extensive component services will support start-up and growth of the airline as it expands its fleet and network.

Through this collaboration, Canada Jetlines will benefit from an individual procurement concept that enables the timely delivery of components and parts necessary to operate its proposed fleet of Airbus A320s. The services covered by the contract are customized to meet the requirements of Canada Jetlines’ business model.

A large stock of components for the fleet has been activated at the LHT facility at Pearson International Airport (YYZ) in Toronto. This comprehensive support plan gives Canada Jetlines flexible options that many competitors do not have and contributes to the airline’s value structure.

“We have negotiated a strategic partnership with Lufthansa Technik, a world-class organization, which will allow Canada Jetlines to deliver value to our customers with the safety and efficiency of our operations,” said Brad Warren, vice-president. president of maintenance operations at Canada Jetlines. “Lufthansa Technik‘s commitment to guarantee the highest reliability of components, to have the highest availability of materials and their continuous search for improvement, is therefore the perfect match for us. They will provide us with a complete solution for our needs and with the flexibility for a small airline with big growth plans. “

With operations slated to begin in spring 2022, Canada Jetlines aims to provide convenient air travel options at the lowest possible price, offering more travel choices than its competitors to coveted sun destinations and more revenue options for agents and tour operators.

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About the Lufthansa Technik Group
With some 35 subsidiaries and affiliates, the Lufthansa Technik Group is one of the world’s leading providers of aircraft technical services. Internationally certified as a maintenance, production and design organization, the company has more than 22,000 employees. Lufthansa Technik’s portfolio covers the entire range of services for commercial and VIP / special mission aircraft, engines, components and landing gear in the areas of digital fleet support, maintenance, repair, overhaul, modification, completion and conversion as well as the manufacture of innovative cabin products.

About Canada Jetlines
Canada Jetlines is a high-value, well-capitalized leisure carrier that intends to use a fleet of Airbus 320 aircraft to serve popular sun destinations slated for launch in spring 2022, subject to approval by the Canadian Transportation Agency and Transport Canada. The all-Canadian carrier was developed to provide the Canadian consumer with more choice and more economical options for flying to sunny destinations in the southern United States, the Caribbean and Mexico. With projected growth of 15 aircraft by 2025, Canada Jetlines aims to deliver the best operating economies, customer comfort and fly-by-wire technology, delivering a customer-centric experience from the first point of contact. . Canada Jetlines will use a state-of-the-art online reservation platform, making the turnkey solution available to tour operators as well as consumers, and to generate revenue from scheduled reservations and incidental sales. The efficient aircraft design combined with the experience of the management suite enables affordable flight options without sacrificing quality or convenience.

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Investor Relations Contact:
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Caution regarding forward-looking information

This press release contains “forward-looking information” regarding expected developments and events that may occur in the future. Forward-looking information contained in this press release includes, without limitation, the Company’s intention to operate as a leisure airline, the intention to offer the lowest possible price, the number of planes it intends to operate, the benefits of the agreement with LHT, the destinations of its planned flights, the completion of the CTA and Transport Canada approval process, the plans growth, revenue options, and expected timeframe to begin serving Jetlines’ destinations and operations.

In some cases, forward-looking information may be identified by the use of words such as “plans”, “expects”, “budget”, “planned”, “estimates”, “forecasts”, “intentions”, ” anticipate ”or“ or variations of these words and phrases or statements that certain actions, events or results “could”, “could”, “would”, “could” or “would”, “occur” or “will be achieved” , suggesting future results, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements regarding future events or performance. The forward-looking information contained in this press release is based on certain factors and assumptions regarding, among other things, the receipt of funding to start airline operations, the accuracy, reliability and success of Jetlines’ business model. ; the timely receipt and success of such operations; the legislative and regulatory environments of the jurisdictions in which Jetlines will operate or operate; the impact of competition and the competitive response to Jetlines’ business strategy; and the availability of aircraft. Although the Company considers these assumptions to be reasonable on the basis of the information currently available to it, they may prove to be inaccurate.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied by the companies. forward-looking information. These factors include the risks related to the ability to obtain financing on acceptable terms, the impact of general economic conditions, the conditions of the domestic and international airline industry, the failure of the Company to enter into definitive agreements for acquiring aircraft, supply chain disruptions leading to delays in timelines, the impact of the global uncertainty created by COVID-19, future relationships with shareholders, fuel price volatility, the increased operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, management’s ability to implement strategy operational level of Jetlines, ability to attract qualified executives and personnel, labor disputes, regulatory risks, including risks associated with the acquisition of licenses and t required permits from Transport Canada, the Canadian Transportation Agency and other regulatory agencies, and additional risks identified in the “Risk Factors” section of reports and documents filed by the Company with Canadian regulatory agencies. applicable securities regulations. Although the Company has attempted to identify important factors which could cause actual results to differ materially from those described in forward-looking information, other factors may cause results not to be as anticipated, estimated or planned. Therefore, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release. Except as required by applicable securities laws, the Company assumes no obligation to publicly update any forward-looking information.

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