Based on this announcement, I can see those used 767s didn't work out in the end. I am surprised though that they decided to buy new airplanes considering they were going the used route to keep costs low. I find the timing odd though. After announcing the ultra low cost airline, I would expect them to digest their current commitments first before going all in. Their London service is already fairly low cost as well and routes to Asia is getting already crowded. There are 3 daily flights to Tokyo from Vancouver alone. There are many Chinese mainland carriers going to Vancouver, Calgary, Toronto and even Montreal. South America is covered by Air Canada, the American carriers and cheap leisure routes. Westjet will definitely need to join an alliance to build codeshare networking too.

It will be interesting to see,  but I think this is definitely a risky maneuver for shareholders. Terrible timing too with the Canadian dollar so low.