Canada Jetlines (Cboe CA: CJET) Enters ACMI Lease Agreement with Air Arabia Moroc

TORONTO, ON / ACCESSWIRE / March 26, 2024 / Canada Jetlines Operations Ltd. (Cboe CA:CJET) ("Canada Jetlines" or the "Company"), a prominent leisure airline in Canada, announced today that it will deploy an additional two aircraft from its fleet in Morocco this summer under an Wetlease/ACMI (Aircraft, Crew, Maintenance, and Insurance) lease agreement with Air Arabia Moroc.

Under the terms of the agreement, two of Canada Jetlines' A320 aircraft will operate flights between Western European destinations and Morocco. The lease duration spans three months, commencing mid-June through to mid-September 2024.

Eddy Doyle, CEO of Canada Jetlines, highlighted the significance of the agreement, stating, "Our partnership with Air Arabia Moroc marks a strategic step forward in our business plan of providing Wetlease/ACMI services for reputable partners. By leveraging this agreement, we are not only maximizing the utilization of our aircraft during the busy summer months in Europe but also solidifying our position as a premier provider of tailored aviation solutions. This agreement underscores the sustainable growth plan for Canada Jetlines."

The aircraft will return to service in key North America markets for the fall/winter leisure season.

About Canada Jetlines
Canada Jetlines Operations Ltd. (Cboe CA:CJET), trading as "Canada Jetlines," is a Canadian leisure airline committed to providing an exciting travel experience to its passengers. With a growing network of destinations, Canada Jetlines is dedicated to connecting Canadians with some of the world's most captivating and sought-after locations.

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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 the Company's intention to operate as a leisure airline, the number of aircraft it intends to operate, the destinations of intended flights, the frequency of flights, the delivery of additional aircraft, the terms of the agreement with Air Arabia, the utilization of aircraft during the busy summer months, the Company's position as a premier provider of tailored aviation solutions, the Company's growth strategy, the offering of more routes and destinations to meet the growing demand for leisure travel and business of Jetlines.