Canada Jetlines has grounded all flights and is set file for bankruptcy protection.
Flight operations ceased with immediate effect after been unable to secure adequate funding to continue.
“The company pursued all available financing alternatives including strategic transactions and equity and debt financings,” the airline said.
“The company has been unable to obtain the financing required to continue.”
Customers with bookings have been urged to contact their credit card company to seek refunds.
The shutdown follows the resignation of four executives on Monday, including CEO Brigitte Goersch.
The airline initially offered domestic routes and was more recently focused on vacation flights to destinations in the US, Caribbean and Mexico.
