Reported 21 days ago
Canada Jetlines, a regional airline based in Ontario, has begun the liquidation process after accruing debts of $11.8 million CAD and unable to secure necessary financing. The airline, which started operations in September 2022, abruptly canceled all flights in August 2024 and has now formally filed for bankruptcy. A trustee has been appointed to oversee the sale of assets to repay creditors, marking a significant failure in the regional airline market.
Source: YAHOO