CHORUS AVIATION INC. ANNOUNCES FIRST QUARTER DIVIDEND
HALIFAX, March 22 /CNW/ – Chorus Aviation Inc. ("Chorus") (TSX: CHR.B CHR.A CHR.DB), formerly Jazz Air Income Fund, today announced a quarterly dividend of $0.15 per Class A and Class B share payable on or after April 18, 2011 to shareholders of record at the close of business on March 31, 2011. These dividends qualify as eligible dividends in Canada and qualifying dividends in the United States.
About Chorus Aviation Inc. --------------------------
Chorus Aviation Inc. ("Chorus") was incorporated on September 27, 2010 and is a dividend-paying holding company which owns Jazz Aviation LP, and 7503695 Canada Inc. which holds the investment in Latin American Regional Aviation Holdings Corp., which in turn holds a 75% indirect equity interest in South American regional carrier, Pluna.
About Jazz Aviation LP ----------------------
Jazz Aviation LP ("Jazz") has a strong history in Canadian aviation with its roots going back to the 1930s. Since Jazz Air Income Fund became publicly traded in February 2006, Jazz's predecessors have generated some of the strongest operational and financial results in the North American aviation industry.
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 currently operates scheduled passenger service on behalf of Air Canada with over 800 departures per weekday to 85 destinations in Canada and in the United States with a fleet of Canadian-made Bombardier aircraft.
Jazz also operates Boeing 757-200 aircraft on behalf of Thomas Cook Canada in the winter season to various destinations in the Caribbean, Mexico and Central America from four Canadian gateways – Toronto, Ottawa, Montreal and Halifax.