Chorus Aviation Completes Acquisition of Six Regional Aircraft
Apr 1, 2019
Delivering regional aviation to the world
HALIFAX, April 1, 2019 /CNW/ - Chorus Aviation Inc. ('Chorus') (TSX: CHR) announced today the completion of a portfolio transaction between Chorus Aviation Capital and Elix Aviation Capital for six regional aircraft. The transaction had previously been announced on February 21, 2019.
The portfolio of six aircraft consists of two ATR72-600 aircraft on lease to Azul Airlines of Brazil, two Q400 aircraft on lease to Ethiopian Airlines, and two Q400 aircraft on lease to Jambojet of Kenya.
With these acquisitions, Chorus Aviation Capital's portfolio of leased regional aircraft (inclusive of five transactions pending completion) has reached 40 aircraft, comprising 28 turboprops and 12 regional jets valued at approximately US $860 million.
About Chorus Aviation Capital
Established in 2017, Chorus Aviation Capital currently has relationships with 12 regional airlines based in 12 countries. The company is focused on building a portfolio of new and mid-life regional aircraft, while leveraging the synergies inherent among its affiliated companies to provide a full suite of regional aviation services.
About Chorus Aviation Inc.
Headquartered in Halifax, Nova Scotia, Chorus was incorporated on September 27, 2010. Chorus' vision is to deliver regional aviation to the world. Chorus has been leasing its owned regional aircraft into Jazz's Air Canada Express operation since 2011, and established Chorus Aviation Capital to become a leading, global provider of regional aircraft leases. Chorus also owns Jazz Aviation LP and Voyageur Aviation Corp. – companies that have long histories of safe and solid operations that deliver excellent customer service in the areas of contract flying operations, engineering, fleet management, and maintenance, repair and overhaul. Together, the Chorus group of companies can provide a full suite of regional aviation support services. Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol 'CHR'. www.chorusaviation.ca
This news release may contain 'forward-looking information'. Forward-looking information is identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "potential", "pending", "project", "will", "would", and similar terms and phrases. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those indicated in the forward-looking information. Actual results may differ materially from results indicated in forward-looking information for a number of reasons, including those identified in Chorus' public disclosure record available at www.sedar.com and the risk factors identified in Chorus' Annual Information Form dated February 21, 2019. Statements containing forward-looking information in this news release represent Chorus' expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and are subject to change after such date. Chorus disclaims any intention or obligation to update or revise such statements to reflect new information, subsequent events or otherwise, unless required by applicable securities laws.
SOURCE Chorus Aviation Inc.
For further information: Chorus Media Contacts: Manon Stuart, Halifax, Nova Scotia, (902) 873-5054, email@example.com; Debra Williams, Toronto, Ontario, (905) 671-7769, firstname.lastname@example.org; Chorus Analyst Contact:Nathalie Megann, Halifax, Nova Scotia (902) 873-5094, Nathalie.email@example.com