Jetsgo has gone

By: bmi-star - 11th March 2005 at 12:58

Taken from CNW Telbec

MONTREAL, March 11 /CNW/ - Jetsgo Corporation announced today that it is
ceasing all operations effective immediately.
Passengers are advised to make alternative travel arrangements prior to
going to the airport as there will be no Jetsgo staff or aircraft available.
Travellers seeking to return to their point of origin must make alternative
arrangements with other airlines or with their travel agent or tour operator.
Jetsgo will be asking that the Quebec Superior Court immediately grant it
protection under the Companies' Creditors Arrangement Act. Court protection
will allow Jetsgo to consider all options available to reorganize its affairs.
Given difficult market conditions resulting from competitive pressures in
the Canadian airline industry, Jetsgo has determined that, in the
circumstances, it is prudent and responsible to discontinue its operations and
ground all of its planes.
Michel Leblanc, President of Jetsgo, said: "We deeply regret that this
had to happen. The decision to cease operations was only taken after difficult
deliberation. We are very concerned about our customers and the significant
hardship that this action causes. In the meantime, we encourage our passengers
to contact their travel agent or an alternative airline."
Jetsgo intends to keep its stakeholders, including its employees and
customers, informed of the development of its restructuring process.
Information and Court filed documents regarding the CCAA proceedings will be
available on Jetsgo's website at www.jetsgo.net as well as on RSM Richter
Inc.'s website at www.rsmrichter.com and will regularly be updated.
Information may also be obtained by communicating with RSM Richter Inc. by
telephone at 1-800-246-1125.

Yet another loco to go, this time in Canada.