There's more to JetsGo's demise than rising oil prices and low airfares that can't keep his business afloat. Michel LeBlanc is a notorious crook with a history of bankrupt and failed airlines.
micleh LeBlanc has owned several airlines from Quebec Air, to Intair, to Royal (with he sold to Canada 3000 and then Canada 3000 tried to sue him for 45 million until they went Bankrupt) and now JetsGo.
Here's a time line done by the CBC.
http://www.cbc.ca/news/background/ai..._airlines.html
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