Jetsgo Suddely Ceases Operations - 17,000 Stranded

[thebobman]

FULL STORY HERE
Jetsgo Ceases Operations, to Seek Ways to Reorganize
March 11

Jetsgo, Canada's third-largest airline, grounded its fleet after jet-fuel prices rose by two- thirds in the past year and the company became the target of safety investigations from federal regulators.
The shutdown stranded 17,000 customers, many of whom were preparing to travel to Florida for spring break. Jetsgo also flew to New York and Los Angeles and had a 7 percent market share in Canada, where Air Canada, an ACE Aviation Holdings Inc. unit, and WestJet Airlines Ltd., are the biggest carriers.

Jetsgo, led by President Michel Leblanc, spent ``big'' on ads and expanded too quickly beyond its flight bases in Montreal and Toronto, Raymond James analysts said in January. Shares of WestJet, a Calgary-based low-cost carrier that cut fares because of Jetsgo, rose as much as 51 percent in early trading.

``Passengers are advised to make alternative travel arrangements prior to going to the airport as there will be no Jetsgo staff or aircraft available,'' Jetsgo said in a statement released at two minutes after midnight today.

[stephen_c]

^
"became the target of safety investigations from federal regulators" ?

just as well they "ceases operations" cuz u may very well ceases operations too if u get onto an ill-fated aeroplane.

[diesskei]

That's trippy. Jetsgo was mad cheap. I just flew from Vancouver to Edmonton round trip for $320 including taxes. It's funny they mention they spent too much on advertising... At a bus stop on west broadway between oak and heather they had an advertisement that caught my eye and made me think "that's a wicked deal!". Thus, I used them on my next trip.

[Lady Dame]

I guess they should've seen it coming with all the People flying a lot and paying a little.

[ja_raul]

funny headline in the newspaper this morning "jetsgo is jetsgone", or something like that. these journalists dont get paid enough if you ask me

[clevich]

They had that ad for $1 return trips. Pay regular, $1 for the return trip. I guess they got screwed with that.... Also heard they filled for bankrupcy.

[mapleleaf4ever]

The problem with JetsGo was that the owner of it was also the man that ran Canada 3000 into the Ground. He was charging fares at well below his overhead costs. With the decrease in ridership of Airlines in general they were only filling their aircraft on average 33% capacity. SUCKERS! If only I had WestJet stock... after this announcement it went up $8.00 per share and Air Canada stock went up $10.00 per share.

[Sue Bitch]

the planes they used (md80's I think) are really dangerouse the wings in the back to balance out the plane jam alot.
but then again how often do planes crash??

[mapleleaf4ever]

^ Not very often, although the Transportation Safety Board has an order for them not to go higher than 28,000' because of the pressurization system on the MD-80s is getting old now. That also killed them because at a lower altitude they burn more fuel.

[wum]

that's weird how it can happen so abruptly

[revert]

Originally Posted by mapleleaf4ever

^ Not very often, although the Transportation Safety Board has an order for them not to go higher than 28,000' because of the pressurization system on the MD-80s is getting old now. That also killed them because at a lower altitude they burn more fuel.

i just heard the same on the news, oh knowledgeable one.

[tommy-boi]

ya one of my friend was complaing about not getting her $200 dollars ticket full refund all night :Serotonin

[mapleleaf4ever]

Originally Posted by revert

i just heard the same on the news, oh knowledgeable one.

lol well I DO work in the Industry after all.

[clevich]

Originally Posted by mapleleaf4ever

lol well I DO work in the Industry after all.

you dirty kid!

[mapleleaf4ever]

Originally Posted by clevich

you dirty kid!

And I'm not the Director either! ;)

[charly]

my favourite part of this whole thing was watching global news, and seeing how they shopped the jetsgo logo so it was a sad face.

[mystique]

mmmhmmm...
now pooor agrodave is stuck in toronto!

[xxViceRoyxx]

Jetsgo doesnt even meet safety standards. How did they go bankrupt? its called bad management if you ask me......

[mapleleaf4ever]

^ Dude, did you read what I posted?

...the owner of it was also the man that ran Canada 3000 into the Ground. He was charging fares at well below his overhead costs.

[Akeel]

i liked how you got free buttons on the flights....oh and the stewardesses wore crappy leather jackets.