Amidst unprecedented soaring of oil prices, Jazz, the regional airline associated with Air Canada has taken a decision to dismiss not less than 270 among its 4,980 employees in order to cope up with the crisis of the times. In addition, the carrier foresees that the number of travelers with the airline is expected to decline due to increase in the price of tickets and due to the fact that increasing number of potential clients are canceling their travel plans.

However, Joseph Randell, Jazz's chief executive officer feels that the biggest problem of the times for all the airlines that singly stands out as a highly bothering issue is the record high price of fuel. He observed, "We are in a period of great uncertainty and cannot predict where the price of fuel is going," Randall explained. The Jazz chief did, nonetheless, indicate that he continues to hold out hope for an upswing in the air travel industry, as soon as fuel prices start to go down.

Based in Halifax-Nova Scotia, Jazz, is a highly popular carrier in Canada and enjoys the pride of owning the second largest fleet of the country. However, after the mainline service of Canada, WestJet remains the second largest airline in the country as all the planes of Jazz are relatively smaller, regional Canadair-Bombardier jets.

According to Randell, Jazz needs to reduce its capacity and routes by 5%. In addition, there is yet another concern that the airline will roll back its operations in Halifax that might have an adverse effect on the tourism industry of Nova Scotia.