Canada Jetlines Operations (CBOE: CJET) appears to have just imploded, with a number of the firms board of directors announcing their resignation suddenly last night.

The company has seen CEO and Chair of the Board Brigitte Goersch resign from the company, along with directors Ryan Goepel, Beth Horowitz and Shawn Klerer. A reason for their departure was not provided, and it is unclear whom is now helming the company.

Directors Regenold Christian, Gurdev Singh, and Gurinderpal Singh appear to still be with the company, however they have yet to determine who will be taking on the role of CEO, even on an interim basis.

READ: Canada Jetlines Sees CEO Resign, Board Chair To Assume Role On Temporary Basis

At the same time, the company indicated that the continuing of operations is dependent upon the ability to secure financing and grow operations to a point that they are profitable, with further funding needed at this point in time. The remainder of the board and management is said to be working on potential sources of additional capital, and at this time the operations of the airline are continuing.

The departures follow the retirement of CEO Eddy Doyle in May, whom had been CEO of the company since January 2021.

Canada Jetlines last traded at $0.025 on the CBOE.

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