Plan for low-cost airline frustrated by approval process
Plans for a new ultra-low-cost airline with a maintenance hub in Winnipeg are in jeopardy as the federal govt stalls on a decision about lifting foreign investment limits to let the airline get off the ground. Transport minister Marc Garneau refused to say Monday when he would make a decision about the exemption requested by Canada Jetlines in May. Jetlines wants an exemption to the 25% foreign ownership investment in Canadian airlines, with the limit being raised to 49% in its case. The airline has investors lined up to raise the required capital to obtain an operating license but many of them are in Europe and the US and bring the foreign ownership level beyond 25%. Transport Canada is consulting to determine if the exemption is in the public interest. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-09-20/unaligned/plan-for-low-cost-airline-frustrated-by-approval-process
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Plan for low-cost airline frustrated by approval process
Plans for a new ultra-low-cost airline with a maintenance hub in Winnipeg are in jeopardy as the federal govt stalls on a decision about lifting foreign investment limits to let the airline get off the ground. Transport minister Marc Garneau refused to say Monday when he would make a decision about the exemption requested by Canada Jetlines in May. Jetlines wants an exemption to the 25% foreign ownership investment in Canadian airlines, with the limit being raised to 49% in its case. The airline has investors lined up to raise the required capital to obtain an operating license but many of them are in Europe and the US and bring the foreign ownership level beyond 25%. Transport Canada is consulting to determine if the exemption is in the public interest. <br/>
