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VCEflyboy
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Joined: Tue Jun 24, 2014 7:23 pm

Canada welcomes the birth of yet another ULC carrier

Thu Nov 03, 2016 11:27 pm

Albertan regional charter operator enerjet has announced plans to launch ultra low cost operations after the Canadian government has dispensed the airline from abiding to the 25% foreign ownership cap. This means the airline will be able to receive foreign investment of up to 49% of its equity. This is in anticipation of a major airline industry restructure which will see all Canadian carriers, including air Canada and westjet, being able to sell their equity to foreign investors for up to 49%.


http://www.financialpost.com/m/wp/news/ ... exemptions
Last edited by VCEflyboy on Thu Nov 03, 2016 11:50 pm, edited 1 time in total.
 
ahj2000
Posts: 513
Joined: Wed Nov 26, 2014 5:34 pm

Re: Canada welcomes the birth of yet another ULC carrier

Thu Nov 03, 2016 11:34 pm

...Assuming people want to invest in EnerJet.
I can't imagine that many would want to invest in the third ULCC in canada (excluding Jetsgo)
-Andrés Juánez
 
DFW789ER
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Re: Canada welcomes the birth of yet another ULC carrier

Thu Nov 03, 2016 11:41 pm

Given the Jetlines and Newleaf can't get traction, why would another carrier try?
 
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intotheair
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Re: Canada welcomes the birth of yet another ULC carrier

Thu Nov 03, 2016 11:42 pm

I'm just waiting for Jet Naked to take off.
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GE9X
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Re: Canada welcomes the birth of yet another ULC carrier

Fri Nov 04, 2016 3:51 am

DFW789ER wrote:
Given the Jetlines and Newleaf can't get traction, why would another carrier try?


I'm not holding my breath but Enerjet is an established charter carrier and a more serious company than any of these new entrants. It also already has its own planes and crews. They're probably looking at saving themselves, considering their main customers are the tar sands companies and that industry's outlook is not very good right now.

On a wider note, the restructuring will be a welcome change to the incredibly restrictive ownership rules. 49% sounds about right, as it still maintains control of the company in Canada, although if that 51% is split into several Canadian actors and the 49% into a single foreign one, it will give a lot of power to the foreign investor.
 
Viscount724
Posts: 19304
Joined: Thu Oct 12, 2006 7:32 pm

Re: Canada welcomes the birth of yet another ULC carrier

Sat Nov 05, 2016 10:58 pm

GE9X wrote:

On a wider note, the restructuring will be a welcome change to the incredibly restrictive ownership rules. 49% sounds about right, as it still maintains control of the company in Canada, although if that 51% is split into several Canadian actors and the 49% into a single foreign one, it will give a lot of power to the foreign investor.


No single foreign investor or group of investors can have more than 25% voting interest under the proposed rules. In my opinion not many investors will be interested with that restriction in voting rights.
http://www.cbc.ca/news/politics/garneau ... -1.3834283
 
Whiteguy
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Re: Canada welcomes the birth of yet another ULC carrier

Sat Nov 05, 2016 11:16 pm

intotheair wrote:
I'm just waiting for Jet Naked to take off.


Jet Naked was Tim Morgan, CEO of Enerjet, it has since changed its name....
 
Whiteguy
Posts: 1109
Joined: Sat Nov 29, 2003 6:11 am

Re: Canada welcomes the birth of yet another ULC carrier

Sat Nov 05, 2016 11:18 pm

GE9X wrote:
DFW789ER wrote:
Given the Jetlines and Newleaf can't get traction, why would another carrier try?


I'm not holding my breath but Enerjet is an established charter carrier and a more serious company than any of these new entrants. It also already has its own planes and crews. They're probably looking at saving themselves, considering their main customers are the tar sands companies and that industry's outlook is not very good right now.

On a wider note, the restructuring will be a welcome change to the incredibly restrictive ownership rules. 49% sounds about right, as it still maintains control of the company in Canada, although if that 51% is split into several Canadian actors and the 49% into a single foreign one, it will give a lot of power to the foreign investor.


Established???? Enerjet has one airplane left and the majority of its employees were laid off......
 
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intotheair
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Re: Canada welcomes the birth of yet another ULC carrier

Sat Nov 05, 2016 11:45 pm

Whiteguy wrote:
intotheair wrote:
I'm just waiting for Jet Naked to take off.


Jet Naked was Tim Morgan, CEO of Enerjet, it has since changed its name....


Too bad. I was really hoping they would stick with that name so that it could fuel a few decades' worth of jokes.
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ACDC8
Posts: 7285
Joined: Thu Mar 10, 2005 6:56 pm

Re: Canada welcomes the birth of yet another ULC carrier

Sun Nov 06, 2016 12:04 am

Enerjet hasn't been up in the oil fields for a good year now (other than the evacuation in May) - their last contract IIRC was with Suncor who brought in WS last fall - not to be confused with the new contract between WS and Suncor starting this month.
A Grumpy German Is A Sauerkraut
 
debonair
Posts: 2833
Joined: Sat Jan 03, 2004 10:50 pm

Re: Canada welcomes the birth of yet another ULC carrier

Fri Feb 17, 2017 2:59 pm

Any news regarding this project and Enerjet?!

Enerjet's B737 C-GDEJ was spotted in SNN - maybe for paint in new colours?!

https://www.flightradar24.com/data/aircraft/c-gdej
 
Dominion301
Posts: 266
Joined: Wed Jul 20, 2016 1:48 pm

Re: Canada welcomes the birth of yet another ULC carrier

Fri Feb 17, 2017 5:35 pm

Whiteguy wrote:
GE9X wrote:
DFW789ER wrote:
Given the Jetlines and Newleaf can't get traction, why would another carrier try?


I'm not holding my breath but Enerjet is an established charter carrier and a more serious company than any of these new entrants. It also already has its own planes and crews. They're probably looking at saving themselves, considering their main customers are the tar sands companies and that industry's outlook is not very good right now.

On a wider note, the restructuring will be a welcome change to the incredibly restrictive ownership rules. 49% sounds about right, as it still maintains control of the company in Canada, although if that 51% is split into several Canadian actors and the 49% into a single foreign one, it will give a lot of power to the foreign investor.


Established???? Enerjet has one airplane left and the majority of its employees were laid off......


Enerjet's fleet I think has bounced between 1 and 4 airplanes their entire existence. At least they're backed by some pretty rich folks (i.e. WestJet founders).

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