Inovent, Canada Jetlines Seek C$50 Million Airline IPO
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Inovent Capital Inc. and Canada Jetlines Ltd. filed documents with regulators to raise C$50 million ($44.5 million) in an initial public offering to fund a new airline.
Jetlines and Inovent are merging and plan to start an “ultra-low cost” domestic airline out of Vancouver International Airport next year, the companies said today in a statement. The airline plans routes that avoid direct competition with current airlines.