Jazz Air Income Fund announces July distribution
HALIFAX, July 18 /CNW/ - Jazz Air Income Fund (TSX: JAZ.UN ) announced
today that its July cash distribution of $0.0838 per Fund unit covering the
period from July 1, 2007 to July 31, 2007 will be paid on August 15, 2007 to
unitholders of record at the close of business on July 31, 2007.
About Air Canada Jazz
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 July 1, 2007 Air Canada Jazz operated scheduled passenger service on
behalf of Air Canada with approximately 881 departures per weekday to
56 destinations in Canada and 28 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.