Canada Jetlines Ltd. (JET: TSX-V) has announced the appointment of Javier Suarez as Chief Executive Officer of the Company after being promoted from the role of Chief Commercial Officer, the company said.
Javier is replacing the Company´s former CEO, Lukas Johnson. Johnson recently informed the Company that he will be returning to the United States for personal and family reasons. Prior to his departure, he is showing his support for Jetlines and its new CEO by investing USD 700,000 into the Company.
Javier Suarez has over 15 years of airline experience with expertise in most commercial functions, strategy and operations. Most recently, Javier was Vice President, Network Planning, Revenue Management, E-Commerce with ultra-low cost carrier VivaAerobus. Javier was part of the senior management team that improved profitability from a breakeven in 2014 to becoming the most profitable airline in Mexico in 2017. During his tenure, he was responsible for growing its fleet from 13 to 32 aircraft between 2014 and 2018. He was also part of the team who recently negotiated the purchase of VivaAerobus´ 25 new Airbus 321NEO aircraft.
In connection with his appointment as Chief Executive Officer, Suarez will be granted 750,000 Restricted Share Units (“RSUs”). The RSUs vest over a three-year period from the date of grant, with one third vesting at the end of each year during the three-year period.
Canada Jetlines Ltd. is set to become Canada´s first true Ultra-Low Cost Carrier (ULCC) airline, with plans to operate flights across Canada and provide non-stop service from Canada to the United States, Mexico and the Caribbean.