Former WestJet execs move ahead with new airline
A group of former WestJet executives is launching an airline called Enerjet to focus on charter flights, to be followed by an expansion into tours.
The company, led by Tim Morgan, a co-founder of WestJet who stepped down in 2005, announced its official name on Monday and its plans to start operations in 2009.
The company had been working under the tentative name of New Air and Tours.
" 'Enerjet' symbolizes Canada's strength and the entrepreneurial and dynamic drive of Canadians," said chief financial officer Alan Mann, also a former WestJet exec, from the company's headquarters in Calgary.
Starting next year, Enerjet's two Boeing 737-700s will fly charters throughout Western Canada, Mann said. That will be followed by the launch of a tour company division in the third quarter of 2009 for Canada and one sun destination.
Mann said he doesn't anticipate the current economic climate will create problems for Enerjet's business plan.
Enerjet is not competing for the same type of business as WestJet or Air Canada, he added.
In previous interviews, Morgan said he'd like to target smaller Canadian cities that are underserved by the other airlines.
Enerjet received tentative licensing approval from Transport Canada in August. Management said it anticipates full licensing by the end of November.
Westerkirk Capital Inc., a private equity firm that invests for the family of Sherry Brydson, the niece of the late billionaire and newspaper mogul Ken Thomson, is a major shareholder in Enerjet with a stake of $4.5 million.
With files from Andree Lau
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