At the time the third-largest carrier in the country, Jetsgo abruptly ended service and entered bankruptcy protection on March 11, 2005, leaving thousands of passengers stranded at the beginning of the busy March-break travel season.

According to news outlets, the airline was processing orders and taking payments for flights the night before they claimed bankruptcy and ceased operations.

In February 2007 the media reported that the United States military was using the former call sign assigned to Jetsgo during flights over European Union (EU) territory.

The Sunday Times said that the call sign had been used by military flights involving so-called "extraordinary rendition" of political detainees to black site destinations.

Number of incidents reported on a yearly basis concerning Jetsgo:[6] On 20 January 2005 a Jetsgo McDonnell Douglas MD-83 landing in poor weather and low visibility at Calgary International Airport, in Calgary, Alberta, veered left off runway 34 and hit a runway hold-short sign, damaging landing gear and flaps.

[7][6] Jetsgo also operated weekend scheduled charter services from Toronto and Montreal to destinations in Cuba, the Dominican Republic and Mexico.