An anonymous director reports

CHORUS AVIATION REPAYS SERIES A DEBENTURES AND REDEEMS SERIES 1 PREFERRED SHARES

Chorus Aviation Inc. has repaid upon maturity all ($86.25-million aggregate principal amount) of its outstanding 5.75 per cent senior unsecured debentures due Dec. 31, 2024, together with all accrued and unpaid interest thereon, for cash. The Series A debentures were delisted from the Toronto Stock Exchange.

Chorus also redeemed today all of its outstanding Series 1 preferred shares. The Series 1 preferred shares were redeemed for an aggregate redemption price of $363,270,833 (U.S.), which was paid in cash. The Series 1 preferred shares were not listed for trading.

About Chorus Aviation Inc.

Chorus is a Canadian company focused on aviation services businesses. The company's operating subsidiaries are: Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; and Cygnet Aviation Academy, an industry-leading accredited training academy preparing pilots for direct entry into airlines. Together, Chorus's subsidiaries provide services that encompass every stage of an aircraft's life cycle, including: aircraft acquisition and leasing; aircraft refurbishment, engineering, modification, repurposing and transition; contract flying; aircraft and component maintenance, disassembly, and parts provisioning; and pilot training.

Chorus Class A variable voting shares and Class B voting shares trade on the TSX under the trading symbol CHR. Chorus 5.75 per cent senior unsecured debentures due Dec. 31, 2024, 6.00 per cent convertible senior unsecured debentures due June 30, 2026, and 5.75 per cent senior unsecured debentures due June 30, 2027, trade on the TSX under the trading symbols CHR.DB.A, CHR.DB.B and CHR.DB.C, respectively.