Grounded Buffalo Airways could be back in business this week — almost five weeks after Transport Canada suspended its commercial flying licence.

The company is in the process of submitting its final correction action plan to Transport Canada.

Sol Taboada, a consultant working with Buffalo to help it get its licence back, says he expects the airline to be back up and running within a day or two.

"Our expectation would be… since they [Buffalo Airways] have 100 or so odd people twisting in the wind waiting to know if they have a company that's going to give them employment or not, [Transport Canada] would react fast. We hope in the next day or two we'd know, and the suspension would be lifted."

Transport Canada suspended Buffalo's air operator certificate on Nov. 30, citing the airline's poor safety record.

Sol Taboada

Sol Taboada owns DTI Training, a consulting firm hired by Buffalo Airways. (Twitter)

Buffalo's first correction action plan, sent to Transport Canada last month, was rejected.

Last week, after submitting a revised plan, Buffalo was told by Transport Canada that it only needed to make a handful of minor revisions before it could get its licence back.

Taboada says the company has made those revisions.

Several Yellowknifers noticed a Buffalo Airlines plane flying over Yellowknife over the weekend.

A spokesperson for Transport Canada said the airline was still allowed to fly its planes without an air operator certificate — just not for hire or payment.