Heard on the Radio this morning that the Canadian discount airline, Jetsgo, has ceased all operations.

No warning, no nothing.

This was a privately run airline, so they had no obligation to inform the public of their apparent imminent collapse, but it is really too bad to see so many passengers and especially employees simply dropped like a hot potato.

CBC News is reporting that shares of WestJet and Air Canada have predictably spiked on the news. I would expect them to settle down in a few days. I was really wondering if Jetsgo was going to be able to stay afloat, over the past couple months they’ve been offering crazy $1 one-way fares to various destinations.

As the old saying goes: If it looks to good to be true, it probably is.

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