Mr. Joe Randell reports

CHORUS AVIATION EXPANDS LEASING PORTFOLIO WITH NEW AIRCRAFT TYPE AND CUSTOMER

Chorus Aviation Inc.'s Chorus Aviation Capital (CAC) has entered into a sale-leaseback agreement with Air Baltic Corp. of Latvia to acquire five new Airbus A220-300 aircraft, marking the addition of this new aircraft type to the CAC product offering.

This transaction brings its customer base to 15 airlines on six continents. Two deliveries are anticipated in the fourth quarter of 2019 with the balance to be completed by the end of the third quarter in 2020.

"We are very pleased to welcome Latvia's flag carrier, airBaltic to our family of airlines, and to introduce the Airbus A220 aircraft to our product offering," said Steve Ridolfi, President, Chorus Aviation Capital. "To date, we've grown our leasing portfolio to 601 aircraft acquired at approximately US $1.3 billion with approximately US $925.0 million in future contract lease revenue. The pipeline of opportunities remains strong."

"The growth momentum in our leasing business continues. The economics and passenger comfort of the A220 aircraft is a great fit with our integrated aviation services strategy, and we're excited to add Airbus to our list of world-class aircraft manufacturers," commented Joe Randell, President and Chief Executive Officer, Chorus. "We've been conducting heavy maintenance work on Dash 8-400s operated by airBaltic and I'm pleased we've broadened our relationship to now include aircraft leasing. This clearly demonstrates the broad scope of services we can offer to airlines around the world. I applaud the Chorus team for reaching another milestone and for embracing our vision to become a worldwide provider of integrated regional aviation services."

"We are delighted to have Chorus Aviation Capital as one of airBaltic's valued partners supporting our Airbus A220-300 fleet modernization. This is another successful A220-300 sale and leaseback transaction that we have closed with great support from Skytech-AIC," said Vitolds Jakovlevs, Chief Financial Officer of airBaltic.

Upon the completion of this transaction, and one other aircraft pending delivery to other customers, CAC's portfolio will include 43 turboprops and 17 regional jets. When combined with the planned aircraft leased under the Capacity Purchase Agreement with Air Canada, Chorus' fleet of leased aircraft will reach 131 aircraft valued at approximately US $2.2 billion.

About Chorus

Chorus is a global provider of integrated regional aviation solutions. Chorus' vision is to deliver regional aviation to the world. Headquartered in Halifax, Nova Scotia, Chorus comprise Chorus Aviation Capital a leading, global lessor of regional aircraft, and Jazz Aviation and Voyageur Aviation, companies that have long histories of safe operations with excellent customer service. Chorus provides a full suite of regional aviation support services that encompasses every stage of an aircraft's lifecycle, including: aircraft acquisition and leasing, aircraft refurbishment, engineering, modification, repurposing and preparation, contract flying, aircraft and component maintenance, disassembly, and parts provisioning.

About airBaltic

airBaltic is the most punctual airline in Europe connecting the Baltic region with over 70 destinations in Europe, the Middle East, and the CIS. airBaltic is a joint stock company that was established in 1995. Its primary shareholder is the Latvian state, which holds 80.05% of the stock, while Lars Thuesen holds around 20% through his fully-owned Aircraft Leasing 1 SIA. The airBaltic fleet consists of 37 aircraft -- 20 Airbus A220-300s, 5 Boeing 737s and 12 Bombardier Q400Next Gen aircraft. airBaltic has received numerous international awards for excellence and innovative services. In 2017, the airline received the CAPA Regional Airline of the Year award, while in 2018 airBaltic received the ATW Airline Industry Achievement Award as the Market Leader of the Year. In addition, in 2019 airBaltic received Sector Leadership Award by Airline Business. airBaltic achieved the best on-time performance globally in 2014, 2015, 2016, 2017.

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