An investor group led by Tim Morgan, has announced that it will launch a Canadian ultra-low-cost-carrier (ULCC) service in 2019, bringing affordable, low-cost air travel to millions of Canadians by this time next year.
Backed by significant financial commitments from a consortium of Canadian investors and Indigo Partners, LLC, a leading private equity firm specializing in the aviation industry, Enerjet, a licensed Canadian carrier, will be rebranded, expanded and transformed into an affordable air-travel choice for Canadian travelers. This Canadian ULCC will offer a simple, ultra-low-cost fare structure and an extensive network of destinations across Canada and into the US. Terms of the transaction, which closed today, were not disclosed.
As a co-founder, former director and former chief operating officer at WestJet, Canada’s second-largest airline, Mr. Morgan has deep expertise and experience in the Canadian aviation market and is well-respected by aviation professionals, industry partners, and regulators.
Enerjet is a licensed Canadian charter airline based in Calgary that commenced operations with Boeing 737 Next Generation aircraft in November of 2008.
About the Investor Group
The investor group is led by a consortium of established Canadian investors. In addition to Tim Morgan, the consortium includes TorQuest Partners, one of Canada’s leading mid-market private equity firms, Claridge Inc. and Stephenson Management Inc.
Indigo is the world’s leading investor in ULCC’s with a successful track record as the lead investor in Tiger Airways, based in Singapore, and Spirit Airlines, based in Ft. Lauderdale, Florida. Indigo also maintains lead investments in Wizz Air Holdings, Plc, a ULCC with multiple bases in Central and Eastern Europe; Frontier Airlines, a ULCC based in Denver; Volaris Airlines, a ULCC based in Mexico City; and JetSMART, a ULCC based in Chile. Indigo is headquartered in Phoenix, Arizona.
Top Copyright Photo (all others by the airline): Enerjet Boeing 737-7BD WL C-GBEJ (msn 34480) YYZ (TMK Photography). Image: 905048.
Enerjet aircraft slide show: