On August 12, 2024, Canada Jetlines announced that four leaders had resigned, including CEO Brigitte Goersch, and said it needed additional capital to continue operating. The airline was still operating on the date of that announcement, but it later halted operations in August. It filed a Notice of Intention to Make a Proposal on August 15 and entered bankruptcy on September 11, 2024, after it could not secure financing to continue its proposal.
What Canada Jetlines announced on August 12
Canada Jetlines Operations Ltd. announced the resignations of Brigitte Goersch, Ryan Goepel, Beth Horowitz and Shawn Klerer. Goersch also resigned as chief executive officer. The company did not attribute a quote to a named executive in its August 12 corporate update.
The company said continued operations depended on obtaining adequate financing and growing to profitable operations. It said it needed additional capital and that its board and management were pursuing potential sources. The update gave no target amount and did not say that financing had been secured. Its statement that management was working on potential sources described an effort underway at the time, not a completed fundraising result.
What happened after the leadership changes
The August 12 release said the airline was continuing operations then. That statement should not be read as a description of its later or present status: the Competition Bureau’s 2024 market-study material says Canada Jetlines temporarily halted operations in August after failing to find the capital it needed to continue.
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August 15: Notice of Intention
According to BDO Canada’s trustee engagement record, Canada Jetlines filed a Notice of Intention to Make a Proposal under the Bankruptcy and Insolvency Act on August 15, 2024. BDO was appointed Proposal Trustee. This filing was an insolvency-protection step; it was not the same event as the later assignment in bankruptcy.
September 11: Assignment in Bankruptcy
BDO records that Canada Jetlines filed an Assignment in Bankruptcy on September 11, 2024, after it could not secure financing to continue with its proposal. BDO then became trustee of the bankrupt estate. The sequence distinguishes the initial proposal process from the subsequent bankruptcy assignment.
What the capital push did—and did not—establish
The company’s August 12 update identified additional capital as necessary to continue operations, but did not disclose how much it sought, name a financing source, or announce a completed financing arrangement. The later halt and insolvency filings show that the effort did not result in financing sufficient to continue the proposal. The available records do not establish that the leadership departures alone caused the airline’s operating halt or bankruptcy.
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This is a historical account of leadership changes, a financing need and subsequent insolvency proceedings—not a current service or ticket-booking update. The August statement about continuing operations applied only to August 12, 2024. Readers dealing with a claim, ticket, or insolvency matter should consult the official BDO engagement record for trustee information rather than relying on that earlier operating statement.
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