Global Crossing Airlines Inc. (JETMF)

[JUST WAITING]

CBC News in Canada said that there is an investigation that west Jet tried and interfere.

The company says it has been difficult to engage investors because they believe WestJet Airlines, which owns discount carrier Swoop, will "react very aggressively once the company starts operations, and in fact have already done so in anticipation of Jetlines' entry into the market."

As a consequence, it plans to reduce activities until the Competition Bureau finalizes its investigation into WestJet actions.

Canada Jetlines says a market analysis it retained has found evidence that Swoop is pricing significantly lower than other discount carriers and below avoidable costs on the routes identified by the Competition Bureau investigation.

WestJet denies allegations of interference

In an email to CBC News, a spokesperon for WestJet said it "refutes these allegations and will not provide comment on this competitor's business matters."

Canada Jetlines says it plans to conserve cash by laying off most employees except a core team led by the executive chairman, Mark Morabito, who will continue meeting with investors trying to secure financing.

Chief executive Javier Suarez has resigned effective immediately along with board member Zygimantas Surintas.

"It is very unfortunate that we have to postpone our launch date," said Morabito. "We have built as much as anybody can without access to more capital. We have invested in bringing on board the most talented people who have done an incredible job putting together our operations manuals and systems, our brand, website and all other commercial components needed for launch."