Chorus Aviation Inc. announces October dividend
HALIFAX, Oct. 22, 2014 /CNW/ – Chorus Aviation Inc. (‘Chorus‘) (TSX: CHR.B CHR.A) today announced a monthly dividend of $0.0375 per Class A and Class B share payable on or after November 18, 2014 to shareholders of record at the close of business on October 31, 2014. These dividends qualify as eligible dividends in Canada and qualifying dividends in the United States.
Headquartered in Halifax, Nova Scotia, Chorus was incorporated on September 27, 2010 and is a dividend-paying holding company with various interests including Jazz Aviation Holdings Inc. and Chorus Aviation Holdings Inc.
Jazz Aviation Holdings Inc. holds all of Chorus’ business interests associated with the capacity purchase agreement (‘CPA’) with Air Canada which includes Jazz Aviation LP (‘Jazz’), Jazz Aircraft Financing Inc. (‘JAFI’), and Jazz Leasing Inc. (‘JLI’). JAFI and JLI were established for the sole purpose of acquiring and financing Q400 aircraft and related equipment, and leasing them to Jazz for use in the CPA.
Chorus Aviation Holdings Inc. is a holding company to facilitate diversification of Chorus’ business, such as the establishment of Chorus Airport Services Inc. which provides airport handling services.
Chorus is traded on the Toronto Stock Exchange under the trading symbols of CHR.A and CHR.B.
For more information, visit www.chorusaviation.ca
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. As the largest regional airline in Canada, Jazz has a proven track record of industry leadership and exceptional customer service, and has leveraged that strength to deliver value to all its stakeholders. The Company operates more flights and flies to more Canadian destinations than any other airline, and currently has a workforce of approximately 4,760 professionals highly experienced in the challenging and complex nature of regional operations. Jazz employees are an integral part of communities across our nation with 20% of our workforce based in Atlantic Canada, 46% based in Central Canada, 33% based in Western Canada, and 1% in Northern Canada.
Under a capacity purchase agreement with Air Canada, using the Air Canada Express brand, 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. In October of 2014 Jazz is operating scheduled passenger service on behalf of Air Canada with approximately 740 departures per weekday to 53 destinations in Canada and to 19 destinations in the United States. With a fleet of 122 Canadian-made Bombardier aircraft, Jazz flies more daily flights to more Canadian destinations than any other airline.
Under the Jazz brand, the airline offers charters throughout North America with a dedicated fleet of three 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.