Canada Jetlines exploring ‘benefits and costs’ of trading on US stock exchange

Start-up carrier Canada Jetlines is exploring potentially listing on the US stock exchange. Pressed on the matter by a shareholder during the company’s quarterly earnings call on 28 March, executives emphasised that “nothing has been finalised”, while acknowledging the company had explored entering “more liquid markets” within the next six to eight months. “We haven’t come to a final decision,” says CE Eddy Doyle. “We are exploring the benefits and the costs of it.” Canada Jetlines is currently traded on Cboe Canada, formerly known as the NEO exchange. Last year, the company said it “will need to raise additional capital to support its business plan”.The start-up reports losing C$11.5m ($8.5m) in 2023, its first full year of operation, compared with a C$13.4m loss in 2022. It generated C$37.2m of revenue for the full year, up from C$3.2m during its partial year of operations in 2022. The majority of Canada Jetlines’ 2023 revenue was generated from charter and ACMI (aircraft, crew, maintenance and insurance) flying for companies, the Canadian government, cruise lines and sports teams.<br/>