Jazz Air Income Fund announces August distribution
HALIFAX, Aug. 19 /CNW/ - Jazz Air Income Fund (TSX: JAZ.UN ) announced
today that its August cash distribution of $0.05 per Fund unit covering the
period from August 1, 2009 to August 31, 2009 will be paid on September 15,
2009 to unitholders of record at the close of business on August 31, 2009.
Jazz is the second largest airline in Canada based on fleet size and the
only airline serving all 10 provinces and two territories. Jazz operates more
flights and flies to more Canadian destinations than any other Canadian
carrier. Jazz forms an integral part of Air Canada's domestic and transborder
market presence and strategy.
Jazz is not a typical airline. The airline has a commercial agreement
with Air Canada that is the core of its business. Under the Capacity Purchase
Agreement (CPA), Air Canada currently purchases substantially all of Jazz's
fleet capacity based on predetermined rates. The CPA provides commercial
flexibility, low trip costs and connecting network traffic to Air Canada.
Also, the CPA significantly reduces Jazz's financial and business risks, and
provides a stable foundation for day-to-day operations and future growth.