Jetlines, Canada's new upstart, takes a huge bet that it can execute the ULCC model

Some intrigue is surfacing around a new ultra low-cost airline that aims to debut from a base in Vancouver during summer 2014. Modelled after Spirit and the pioneer of the bare-bones business scheme Ryanair, it would arrive just as new carriers created by Canada's dominant airlines Air Canada and WestJet hit their stride.

Founders of Canada Jetlines have recently been making the rounds among Canada's media outlets touting their plan to operate Airbus narrowbodies to under-served and little-served markets, appealing to cost-conscious travellers with low base fares and an extensive a la carte menu that could even include a nanny service.

Given Spirit's solid financial results since its initial public offering in 2011 and Ryanair's consistent profitability levels, it was only a matter of time before an aspiring ULCC would sprout up in Canada. Of course the challenge is amply executing the theory that the time is ripe for the ultra low-cost model to succeed in Canada. There will also be many across the border watching closely.