Friday, March 11, 2005

Jets GO , is now Jets GONE

Jetsgo Ceases Operations

MONTREAL, March 11 /CNW/ - Jetsgo Corporation announced today that it is
ceasing all operations effective immediately.

Passengers are advised to make alternative travel arrangements prior to going to the airport as there will be no Jetsgo staff or aircraft available. Travellers seeking to return to their point of origin must make alternative arrangements with other airlines or with their travel agent or tour operator. Jetsgo will be asking that the Quebec Superior Court immediately grant it protection under the Companies' Creditors Arrangement Act. Court protection will allow Jetsgo to consider all options available to reorganize its affairs. Given difficult market conditions resulting from competitive pressures in the Canadian airline industry, Jetsgo has determined that, in the circumstances, it is prudent and responsible to discontinue its operations and ground all of its planes.

Michel Leblanc, President of Jetsgo, said: "We deeply regret that this had to happen. The decision to cease operations was only taken after difficult deliberation. We are very concerned about our customers and the significant hardship that this action causes. In the meantime, we encourage our passengers to contact their travel agent or an alternative airline."

Jetsgo intends to keep its stakeholders, including its employees and customers, informed of the development of its restructuring process. Information and Court filed documents regarding the CCAA proceedings will be available on Jetsgo's website at www.jetsgo.net as well as on RSM Richter Inc.'s website at www.rsmrichter.com and will regularly be updated.

Information may also be obtained by communicating with RSM Richter Inc. by
telephone at 1-800-246-1125.

If you are a customer of Jetsgo and have paid for a flight that is no longer scheduled, you may wish to communicate with the Canadian Transportation Agency: by telephone, 1-888-222-2592, by fax, 1-819-953-5686 or on its website at www.cta.gc.ca, or the appropriate provincial authority:

* Ontario: The Travel Industry Council of Ontario (TICO)
Tel.: (905) 624-6241 /Toll-free: 1-888-451-TICO
* Quebec: Office de la protection du consommateur, Gouvernement du Qu├ębec
Tel.: 1-888-672-2556
* British Columbia: Business Practices and Consumer Protection Authority
Tel.: (604) 320-1667; Toll-free number: 1-888-564-9963
* Alberta: Alberta Government Services Tel.: (780) 427-4088;
1-877-427-4088 toll-free number in Alberta only
* Manitoba: Consumer and Corporate Affairs, Consumers' Bureau
Tel.: (204) 945-3800; 1-800-782-0067 toll-free within Manitoba
* Saskatchewan: Saskatchewan Justice, Consumer Protection Branch
Tel.: (306) 787-5550; 1-888-374-4636 toll-free number in Saskatchewan
* New Brunswick: Department of Justice - Consumer Affairs Branch,
Provincial Government Tel.: (506) 453-2659
* Nova Scotia: Business & Consumer Services, Consumer Complaints
Tel.: (902) 424-5531
* Prince Edward Island: Department of Consumer and Corporate Services
Tel.: (902) 368-5653
* Newfoundland and Labrador: Consumer Affairs Officer, Department of
Government Services and Lands
Tel.: (709) 729-2623

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