division to include 40 branch offices as well as three call centers in Montreal, Toronto and Vancouver. In 2000, Canada 3000 went public, raising $30 million in an IPO. In January 2001, Canada 3000 bought charter carrier Royal Aviation of Montreal, Quebec for $84 million. The company also acquired Royal Cargo Airlines' cargo division, renaming it to Canada 3000 Cargo. In March 2001 it also took over CanJet for $7.5 million in stock. In May 2001, following the merger of Canadian Airlines International with Air Canada, Canada 3000 also started operating scheduled flights. In October 2001, one month before its demise, Canada 3000 became the first airline to operate non-stop service from North America to India. Collapse On November 8, 2001 the company suddenly collapsed with no warning for travelers or employees. The company filed for bankruptcy, citing a downturn in air travel during the weeks following the September 11 terrorist attacks on the United States. The fleet was left grounded at various airports around the world, leaving 50,000 vacationers stranded. September 10, 2001 was a record booking day, but within a few days air traffic declined by 50%. The airline was offered a $75 million loan guarantee from the Canadian government under the condition of a 'viable business plan' being produced. By November 7, 2001, the airline had $260 million in debt, and only had $1.49 million in cash. In secret, it had applied to the Canada Labour Board for permission to cut labour costs by 30% by closing its Royal division immediately. The Board would not approve without union agreement. Union offers to cut 700 pilot and flight attendant positions did not provide enough savings immediately and the airline applied for bankruptcy protection on November 8, while it planned to continue flying. By the end of the day, airport authorities in Toronto and St. John's, Newfoundland had seized planes under court authority and the company directors decided to cease operations. Out of bankruptcy, the Canada 3000 Cargo operation, which was still operating, was sold off and became Cargojet Airways, run by former Canada 3000 executive Ajay Virmani. In 2002, Michel Leblanc, the former owner of Royal Airlines and later a director with Canada 3000 went on to form another scheduled discount airline, Jetsgo, which lasted almost three years before it too collapsed and filed for bankruptcy protection on March 11, 2005. The CEO, Robert Deluce continued in the