Chorus Aviation announces acquisition of aircraft on lease to Azul Airlines
Delivering regional aviation to the world
HALIFAX, Sept. 18, 2018 /CNW/ – Chorus Aviation Inc. (‘Chorus’) (TSX: CHR) announced today the acquisition of an ATR72-600 aircraft. The aircraft was purchased with an existing lease attached and further expands Chorus’ relationship with Azul Airlines, one of the leading airlines in South America.
Commenting on the purchase, Chorus Aviation Capital’s President, Steven Ridolfi, stated "This ATR72-600 constitutes the third aircraft on lease to Azul Airlines and, together with other pending transactions that have been recently announced, brings Chorus’ total leased fleet to 70 aircraft. Since its establishment in 2017, Chorus Aviation Capital has expanded its leasing business to include relationships with 11 well-established major regional airlines in 11 countries spanning six continents. Its diversified fleet of quality regional aircraft consists of seven aircraft types from the top three manufacturers – ATR, Bombardier, and Embraer."
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 2009, and established Chorus Aviation Capital to become a leading, global provider of regional aircraft leases and support services. Chorus also 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 Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol ‘CHR’. www.chorusaviation.ca
About Azul Airlines
Azul S.A., the largest airline in Brazil by number of cities served, offers 780 daily flights to 107 destinations. With an operating fleet of 118 aircraft and more than 10,000 crewmembers, the company has a network of 217 non-stop routes as of June 30, 2018. Azul was awarded best airline in Latin America by TripAdvisor Travelers’ Choice in 2017. The Company was elected best regional carrier in South America for the eighth consecutive year by Skytrax. Azul also ranked as most on-time airline in Brazil and most on-time low-cost carrier in the Americas in 2017 according to OAG’s Punctuality League, the industry’s most comprehensive annual ranking of on-time performance. www.voeazul.com.br/ir
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", "project", "will", "would", and similar terms and phrases, including references to assumptions. 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’ Annual Information Form dated February 14, 2018 and Management’s Discussion and Analysis of Results of Operations and Financial Condition dated February 14, 2018. Statements containing forward-looking information in this news release are made as of the date of this news release and Chorus does not undertake any obligation to publicly update such statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.
SOURCE Chorus Aviation Inc.