Jazz Air Income Fund announces February distribution
HALIFAX, Feb. 19 /CNW/ - Jazz Air Income Fund (TSX: JAZ.UN ) announced
today that its February cash distribution of $0.0838 per Fund unit covering
the period from February 1, 2007 to February 28, 2007 will be paid on March
15, 2007 to unitholders of record at the close of business on February 28,
About Jazz Air Income Fund
The fund is an unincorporated, open-ended trust established under the
laws of the Province of Ontario. The Fund indirectly holds 20.9% of Jazz Air
LP, with ACE Aviation Holdings Inc. holding the remaining majority interest of
the outstanding Jazz LP Units.
About Jazz Air LP
Jazz Air LP (Air Canada Jazz) is the second largest airline in Canada
based on fleet size and the number of routes operated. Air Canada Jazz
operates more flights and flies to more Canadian destinations than any other
Canadian carrier. Air Canada Jazz forms an integral part of Air Canada's
domestic and transborder market presence and strategy.
Air Canada Jazz and Air Canada are parties to a Capacity Purchase
Agreement (CPA) pursuant to which Air Canada currently purchases substantially
all of Air Canada Jazz's fleet capacity based on predetermined rates.
Air Canada Jazz provides all crews, airframe maintenance and, in some cases,
airport operations. In turn, Air Canada determines routes and controls
scheduling, ticket prices, product distribution, seat inventories, marketing
and advertising for these flights.
Air Canada Jazz is not a typical airline. Currently, 99% of
Air Canada Jazz's revenues are derived from the CPA. Air Canada Jazz is
isolated from most of the risks typically associated with airlines such as
fuel and navigation costs since these costs are passed-through to Air Canada.
Under the CPA with Air Canada, 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.
As of February 1, 2007 Air Canada Jazz operated scheduled passenger service on
behalf of Air Canada with approximately 802 departures per weekday to 56
destinations in Canada and 29 destinations in the United States with a fleet
of 135 aircraft.
Air Canada Jazz is the focal point of Air Canada's regional passenger
strategy. Air Canada Jazz and Air Canada have linked their regional and
mainline networks in order to serve connecting passengers more efficiently and
to provide valuable feed traffic to Air Canada's mainline routes.