Halifax-based charter airline CanJet has suspended all flight operations, according to the company's president Stephen Rowe.
The suspension, Rowe said, has had no impact on travellers as there are no flights scheduled for future dates.
Rowe told CTV News that the decision to suspend operations was made after management found it was not profitable to fly just one aircraft.
He says the company will take a step back and weigh its options.
The company's sole plane, which was based at Pearson International Airport, was under contract for Air Transat and will return to Air Transat's fleet on Thursday, Rowe added.
The news comes less than a week after SkyGreece Airlines ceased operations, leaving approximately 1,000 passengers stranded.
