Swoop (Canada) plans to expand outside of Canada in 2018 and could grow to a fleet of as many as 30 to 40 aircraft, subject to regulatory approval. First flight on track from June 2018 with three B737-800s, expanding to six aircraft flying by September and all 10 by spring 2019.
One wonders whether Swoop will have similar legs to, dare I say it, Air Canada Tango and/or Zip?
IIRC, Tango had 15 to 20 aircraft and I don't know about Zip. I'm not well versed in the internal decisions Big Red took to launch the two airlines, but they certainly didn't last long (granted, 9/11 played a part as I think they started flying in and around the same time).
A ULCC is a great idea for passengers where either distance (Europe) or passenger numbers (United States) are not a factor. I've never been certain that a ULCC can be profitable in Canada given the relatively longer sector distances and the low population base.
As an example, CDG to SVO is almost 500 miles shorter than YXX to YHM. It overflies seven different countries (depending on the route) and more importantly overflies nearly 400 million people. YXX to YHM overflies one country with 36 million people. A similar distanced sector in the US overflies 323 million people.
The scales are not tipped favourably in Canada for a ULCC. But maybe that's why I drive the airplanes instead of managing the airline.