Vancouver, British Columbia - Canadian startup Jetlines has signed a lease agreement with Latvian SmartLynx for two Airbus A320-200.
Jetlines is expected to take over the planes by November 5 this year. The new ultra-low-cost carrier plans to begin its operations on December 17 after securing its AOC (Air Operating Certificate) from the Canadian regulator.
The airline's leased A320s will be located at Vancouver International Airport, the home base of Jetlines.
The lease agreement came after Jetlines demonstrated that it was able to comply with the terms of the agreements with both Smartlynx for USD5.57 million and Korean special purpose investment group InHarv Partners for USD5.2 million, which will fund the airline for the lease of SmartLynx A320s.
Jetlines will also need to get the approval of the Canada Transportation Agency to sell tickets three months before of its first flight.