When Bruce Haskins and Josh Hooper launched Aspen Air Charter in Mississauga, Ontario in 2024, they saw an opportunity to fill a need in the market: reliable, private flights serving Northern Ontario’s business community. In their first year of operations, the co-founders proved their vision by transitioning from a smart and scrappy startup to a built-out aircraft company with operations and assets to fuel Aspen Air’s long-term growth.

Spotting the opportunity

Aspen Air’s story started years before takeoff. Hooper, a veteran of the aviation industry, had long observed gaps in how smaller operators served regional clients. “Josh had been involved in many aspects of aviation and believed he could do things differently than the average operator,” recalls Haskins.

The two met while working on a contract serving Northern Ontario, where they quickly noticed unmet demand. “The contract job ended, but the need for flights didn’t,” said Haskins. “We realized we could continue offering the service ourselves.”

Their timing was perfect. Demand from private aviation travellers has only grown since the pandemic, and experts project the industry’s growth to continue. With Hooper’s nearly 20 years in the aviation industry and Haskins’ background in business development, they launched Aspen Air in April 2024 with a mission to make private air travel more accessible to businesses.

Overcoming turbulence

Like most startups, Aspen Air faced some challenges from the outset. Staffing was one hurdle. “Finding suitable people to fill key roles in building the foundation of the company has been one challenge,” says Haskins. “It’s still a work in progress, but we’ve built a great team to support growth.”

Regulatory compliance posed another. Aviation is one of the most heavily regulated industries in Canada, and meeting requirements meant producing manuals, implementing policies, and investing significantly in software and aircraft maintenance. “We’ve had to ensure every part of the business aligns with strict standards before we can operate,” Hooper explains.

Then came the financial challenge. Starting with just a few thousand dollars between them, the founders couldn’t purchase an aircraft outright. Instead, they entered into a wet lease agreement that provided both an aircraft and the necessary operating certificates. “The lease gave us room to build funds and prove demand,” says Hooper.

The turning point

By August 2024, Aspen Air was ready to take the next step: acquiring a retiring charter company, including its own aircraft. That move would drastically reduce operating costs and provide a foundation for growth.

 “We had grown the business to a point where adding aircraft made sense financially,” says Haskins. “The revenue from existing clients gave us the confidence to move forward.”

BMO played a key role in making the transition possible. The bank provided a loan to fund the purchase, along with an operating line of credit, credit cards, and day-to-day banking solutions. “All we had to do was provide information and BMO handled the rest,” says Hooper. “They saw the potential of what we were building and gave us the tools to grow.”

Equally valuable, the founders say, was having a dedicated banker on the commercial side who understood the nuances of their industry. 

Charting the future

Haskins and Hooper plan to continue Aspen Air’s rapid ascent. In the coming years, they aim to expand their fleet and introduce scheduled service along the Windsor–Quebec City corridor, while also developing a maintenance division to generate additional revenue.

At the same time, they see private charter demand continuing to rise. “The cost of wasted time continues to increase,” Hooper notes. “That trend will only fuel growth in our industry.”

For other business owners, especially those in niche industries, the Aspen Air story offers a clear takeaway: “Industry expertise and market opportunity are a powerful pairing, but opportunity must be met with perseverance,” says Haskins.  “What you’re creating is hard and if it were easy, everyone would do it.”

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