Reaffirms Commitment to Improving Efficiencies and Operating Economics
HALIFAX, Aug. 29, 2013 /CNW/ - Jazz Aviation LP ("Jazz"), today
announced that it has completed the sale of its London, Ontario hangar
and office facility to Fanshawe College for $3.85 million in cash.
This transaction follows Jazz's previously announced decision to
consolidate its London and Halifax heavy maintenance bases in Halifax
following a comprehensive review of its heavy maintenance requirements.
In addition, the divestiture of the London, Ontario hangar and office
facility is consistent with the Company's overall strategy, which is
focused on strengthening Jazz's competitive position by improving
efficiencies and operating economics.
"As we continue to execute our strategy, the consolidation of our London
and Halifax operations allows Jazz to better manage costs and improve
operating efficiencies, which are key aspects of Jazz's long-term
success," stated Joseph Randell, President and Chief Executive Officer,
Jazz Aviation LP. "We are excited about Jazz's future and ability to
drive long-term growth. We remain committed to prudently managing our
financial resources and enhancing value for all our stakeholders."
In response to the changes occurring in the regional airline industry,
Jazz has made significant progress in enhancing its operations and
headquarters facilities in Halifax to reduce costs, increase
productivity and simplify its business. The transformation of the
operations centre to better support Jazz's maintenance and system
operations control centre functions, and the amalgamation of three
different locations into one headquarters building continue to deliver
positive benefits and returns. This improvement will help strengthen
the fundamentals of the business to effectively respond and compete in
ever-changing markets.
About Jazz Aviation LP
Jazz Aviation LP has a strong history in Canadian aviation with its
roots going back to the 1930s. Jazz is wholly owned by Chorus Aviation
Inc. and continues to generate some of the strongest operational and
financial results in the North American aviation industry.
There are two airline divisions operated by Jazz Aviation LP: Air
Canada Express and Jazz.
Air Canada Express: Under a capacity purchase agreement with Air
Canada, Jazz provides service to and from lower-density markets as well
as higher-density markets at off-peak times throughout Canada and to
and from certain destinations in the United States.
Jazz: Under the Jazz brand, the airline offers charters throughout
North America with a dedicated fleet of five Bombardier aircraft for
corporate clients, governments, special interest groups and individuals
seeking more convenience. Jazz also has the ability to offer airline
operators services such as ground handling, dispatching, flight load
planning, training and consulting.
For more information, visit www.flyjazz.ca.
SOURCE: Chorus Aviation Inc.
