Calgary-based Enerjet says it’s moving forward after hearing the government is opening up airlines to foreign investment.

Chief Commercial Officer Darcy Morgan says this will help with their plans to transition into an ultra-low cost carrier (ULCC) by the spring of 2017.

“We’re looking forward to a significant investment from non-Canadian sources within the limits that were defined by Minister Garneau in his announcement in Montreal today,” said Morgan. “It’ll be a balanced investment between foreign investment and Canadian investment but with the increase in foreign direct investment limits, it allows us to have a meaningful dialogue with many more potential investors outside of Canada.”

Morgan says the number of investors that have risk-capital for Canadian airlines has been traditionally very small so this will be a big boom to the economy.

“I think the implication for that is really important for all Canadians, first-off today, nearly 60 to 70 per cent of all Canadian households don’t buy or can’t afford to buy an airline ticket on an annualized basis so now more Canadians will be able to fly and when we step up to serve them, that will mean 6 to 7,000 new jobs.”

Enerjet has already announced its plan to establish the ULCC, Morgan calls this move a “great accelerator” allowing them to make calls with investors.

“There is a long-term plan to ensure there is a broad-based opportunity for Canadian companies but the Minister wisely granted an exemption to Enerjet to proceed on the basis of his ministerial exemption, we’re going right away.”

The CCO says they’ll start by establishing agreements with their partners and they’re hoping to expand across Canada and the United States soon.

“It’s good news for the traveler, for Enerjet and the Canadian economy and the Canadian jobs market, airlines are a great stimulator of economic activity, locally in the places that we fly and nationally as well.”