MIAMI — CanJet Airlines ceased all flight operations with immediate effect, after failing to find business opportunities that would secure its feasibility.

The Halifax-based charter carrier had a single Boeing 737-800 operating on behalf of Air Transat in a year-round basis. The aircraft will now be incorporated to Air Transat’s fleet, according to CanJet president Stephen Rowe.

In an interview to CBC news yesterday, Rowe cited that the company decided to take a step back in order to determine a new financial plan that would guarantee the continuity of its business. Rowe also declared that the company will continue to run, but will explore business options as they become available.

The airline does not have any active scheduled flights, so the suspension does not have any impact on travelers. Rowe admitted that it is a “sad day” for the airline, and expects CanJet to be back again in the future.

CanJet used to offer scheduled passenger service to 14 Canadian and U.S. destinations. The business was put to an end in 2006 after its rivals Air Canada and Westjet flooded the market with additional seat capacity. Since then, the airline focused on the charter business.

Once the Transat Tours contract was not renewed last April, CanJet opted to ground its expansion plans to Europe, and dismissed about two-thirds of its flight staff. At the moment of the suspension, the airline had 13 Toronto-based cockpit crew and 35 flight attendants, who were laid off after the announcement.