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Court GrantsJetsgo extension
01 May 2005
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Jetsgo
Fokker
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aircraft lease
Airlines
Insolvent Canadian low-fare airline Jetsgo is planning to submit a reorganization plan after receiving a one-month extension from its bankruptcy court. If the plan were approved, it would then be submitted to creditors, with the carrier hoping to resume flights in June. Jetsgo shut down and filed for bankruptcy in March citing difficult market conditions and mounting competitive pressures, particularly from rival WestJet Airlines. Michel Leblanc, the airline's founder, says...
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