Thomas Cook Canada will discontinue its agreement with Jazz Aviation to operate Thomas Cook-branded charter Boeing 757 aircraft, and will terminate the remaining three years of the five-year deal with effect from 30 April.
"A change in market dynamics means that we need to introduce more flexible flying arrangements; the consequence of that is the decision to discontinue our dedicated fleet of 757 aircraft," says Thomas Cook North America's chief executive Dean Moore.
The agreement, signed in 2010, had covered the operation of six 757-200s on charter flights to various destinations from Canadian cities during the winter season.
Saying that it was disappointed with the termination, Jazz's chief executive Joseph Randell says: ""We enjoyed working with the Thomas Cook team and our employees can be proud of the solid operational performance and customer service they delivered."
Jazz will continue to operate the flights for Thomas Cook Canada for the remainder of the winter schedule but will begin winding these down by 28 April.
Details of the settlement agreement between the two parties as a result of the termination are confidential, they say.