Canada Jetlines grounds all flights, plans to file for creditor protection

Canada Jetlines is grounding all flights and says it is temporarily ceasing airline operations effective immediately, making it the latest carrier to signal distress within Canada's troubled commercial airline industry. The airline, which flew mainly to sun destinations out of Toronto, said Thursday it has been unable to find the capital needed to stay afloat and plans to file for creditor protection. "The company ... pursued all available financing alternatives including strategic transactions and equity and debt financings," said spokeswoman Erica Dymond in a release. "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. "Every effort is being made to assist passengers at this time." The shutdown follows the resignation of four executives on Monday, including CEO Brigitte Goersch. It marks yet another airline departure from Canadian skies after the closure of Lynx Air and budget carrier Swoop within the past year. Canada Jetlines, which is headquartered in Mississauga, Ont., serves Canadians flying within the country or to destinations in the U.S., Caribbean and Mexico. It launched its first flight in September 2022. The carrier provides charter flights to sports teams and companies and leases its fleet to other carriers in the summertime. Its former CEO Eddy Doyle characterized it as leisure airline, though it was originally conceived as an ultra low-cost carrier.<br/>