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Enter Symbol
or Name
USA
CA



Chorus Aviation Inc
Symbol CHR
Shares Issued 158,720,692
Close 2019-06-12 C$ 7.78
Market Cap C$ 1,234,846,984
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Chorus Aviation to sell, lease back 6 ATR72-600 planes

2019-06-13 10:11 ET - News Release

Mr. Joe Randell reports

CHORUS AVIATION ANNOUNCES A SALE-LEASEBACK TRANSACTION WITH INDIGO, FOR SIX NEW ATR72-600 AIRCRAFT

Chorus Aviation Inc.'s Chorus Aviation Capital (CAC) has entered into agreements to deliver six new ATR72-600 aircraft to InterGlobe Aviation Ltd. (IndiGo) of India under a sale and leaseback transaction. Deliveries are anticipated in the second and third quarters of 2019.

"We are delighted to welcome IndiGo as our 14th lease customer," said Steve Ridolfi, president of Chorus Aviation Capital. "The Indian aviation market is vibrant and dynamic with regional air transportation expanding rapidly to connect previously unserved communities. IndiGo is perfectly positioned to capitalize on this exciting growth. This is Chorus Aviation Capital's second leasing transaction this year in India, one of the world's fastest-growing aviation markets."

"We're maturing and building scale as a worldwide regional aircraft lessor through the addition of yet another well-established lessee," commented Joe Randell, president and chief executive officer of Chorus Aviation. "This latest transaction expands Chorus Aviation Capital's leasing portfolio to 561 aircraft worth some $1.1-billion (U.S.) and with $830-million (U.S.) in future contracted lease revenue."

Upon the completion of this transaction, CAC's announced portfolio commitments include 44 turboprops and 12 regional jets. When combined with the 47 aircraft leased under the capacity purchase agreement with Air Canada, Chorus's fleet of leased aircraft comprises 103 aircraft valued at approximately $1.7-billion (U.S.).

About Chorus Aviation Capital

Established in 2017, Chorus Aviation Capital currently has relationships with 14 regional airlines based in 13 countries. CAC is focused on building a portfolio of new and midlife regional aircraft while leveraging the synergies inherent among its affiliated companies to provide a full suite of regional aviation services.

About Chorus Aviation Inc.

Chorus has been leasing its owned regional aircraft into Jazz's Air Canada Express operation since 2011 and established Chorus Aviation Capital to become a leading, global provider of regional aircraft leases. Chorus also owns Jazz Aviation LP and Voyageur Aviation Corp. -- companies that have long histories of safe and solid operations that deliver excellent customer service in the areas of contract flying operations, engineering, fleet management, and maintenance, repair and overhaul.

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