On this day in 2005: Low cost Jetsgo ceased operations

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Jetsgo, one of Canada’s three low-cost carriers, ceased operations and filed for creditor protection.

Raymond James analyst Ben Cherniavsky warned in a research note that Montreal-based Jetsgo was “the weakest link” in Canadian aviation.

“Difficult market conditions resulting from competitive pressures” was Jetsgo’s explanation for why it grounded its 32 jets and laid off all 1,350 employees. Continue reading….

Plus: No go for Jetsgo and Canadians look abroad

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