Announcement from Skyservice Airlines

TORONTO, March 31 /CNW/ - Skyservice Airlines today announced the shutdown of its operations following the appointment of a receiver by the Ontario Superior Court of Justice.

Recent changes in the Canadian vacation tour market combined with Skyservice Airlines' debt level have rendered the company unable to maintain profitable operations. As a result, one of the company's secured lenders applied for the appointment of the receiver.

The shutdown results in the cancellation of one flight that was scheduled to depart Canada for the Dominican Republic today and its return leg, as well as all remaining flights scheduled to depart Canada during the balance of the season in April. The company has requested, and the receiver has agreed, to work with the company's tour operator customers and other lift providers to ensure that passenger issues are resolved promptly.

Skyservice Airlines and the receiver are committed to winding up the business in an orderly and responsible manner. The company and the receiver will continue to treat employees and other stakeholders fairly and in a transparent manner throughout this process.

Note to editors: for a link to FTI (the trustee) as well as guidance and links for passengers to contact the tour operator and travel agents, please see: www.skyservice.com

SOURCE SKYSERVICE AIRLINES INC.

For further information: For further information: Bryan Mills Iradesso Corp., Allan McN. Austin, Tel: (416) 447-4740 x240, aaustin@bmir.com

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SKYSERVICE AIRLINES INC.

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