Chorus Aviation Capital reaches milestone
HALIFAX, Jan. 4, 2018 /CNW/ - Chorus Aviation Inc.
("Chorus") (TSX: CHR) announced that a subsidiary of Chorus Aviation Capital completed the delivery of two new Bombardier Q400
aircraft placed on long-term lease to Ethiopian Airlines Group ('Ethiopian Airlines'). This transaction was previously announced
on November 29, 2017.
One year ago today, Chorus established a new regional aircraft leasing subsidiary, Chorus Aviation Capital. The objective was
to build Chorus Aviation Capital into a global aircraft lessor with a diverse customer base and fleet of regional jet and
turboprop aircraft in the 70- to 135-seat range.
"We have built and grown Chorus Aviation Capital into a significant global business with a strong customer base, attractive
aircraft assets and long-term contracted leases," commented Steven Ridolfi, President, Chorus
Aviation Capital. "We are gaining momentum in this growing and dynamic market, and look forward to the continued success of this
new and exciting business," he added.
In its first year of existence, Chorus Aviation Capital completed the acquisition of 21 aircraft with an average age of less
than three years, and long-term leases with strong, brand-name regional airlines located in eight countries and six continents.
It manages a diversified fleet of five of the best regional aircraft types (CRJ1000s, E190s, E195s, Q400s and ATR 72s)
manufactured by ATR, Bombardier, and Embraer.
"In a short period of time, we have established a strong market position in the regional aircraft leasing sector," stated
Joe Randell, President and Chief Executive Officer, Chorus. "Together with the 41 regional
aircraft under lease in the CPA, Chorus has grown its portfolio of leased aircraft to 62 airplanes worth approximately CDN
$1.2 billion. We are transforming our organization into a global leader in the field of regional
aviation, delivering a complete suite of regional aviation services to the world."
About Chorus
Headquartered in Halifax, Nova Scotia, Chorus was incorporated on September 27, 2010. Chorus' vision is to deliver regional aviation to the world. Chorus owns Jazz
Aviation and Voyageur Aviation – 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. Chorus has been leasing its owned regional aircraft into Jazz's Air Canada Express operation since 2009, and
recently established Chorus Aviation Capital to become a leading, global provider of regional aircraft leases and 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
Forward-Looking Information
This news release contains 'forward-looking information' as defined under applicable Canadian securities legislation.
Forward-looking information is identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate",
"expect", "intend", "may", "plan", "predict", "potential", "project", "will", "would", and similar terms and phrases, including
references to assumptions. Such information may involve but is not limited to comments with respect to strategies, expectations,
planned operations or future actions.
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 expressed in the forward-looking information. Results indicated in
forward-looking information may differ materially from actual results for a number of reasons, including those described in
Chorus's Annual Information Form dated February 15, 2017 and Management's Discussion and Analysis
of Results of Operations and Financial Condition dated November 7, 2017. The statements containing
forward-looking information in this discussion represent Chorus' expectations as of January 4,
2018, and are subject to change after such date. However, Chorus disclaims any intention or obligation to update or revise
any forward-looking information whether as a result of new information, future events or otherwise, except as required under
applicable securities laws.
SOURCE Chorus Aviation Inc.
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