Showing posts with label Chorus. Show all posts
Showing posts with label Chorus. Show all posts

30 May, 2023

Air Canada and Chorus adding capacity.......

Air Canada and Chorus Aviation Inc - the parent company of Jazz Aviation which provides regional operations for Air Canada Express and have agreed to provide additional flying capacity with another airline for up to six De Havilland Canada DHC-8 aircraft. 

"Jazz is our long-term Air Canada Express partner, and we are working together to increase flying activity within the framework of our existing CPA given the current, industry-wide pilot situation.  As these efforts continue, and to help meet the needs and expectations of the travelling public, Air Canada has entered into a bridging arrangement with another airline to provide additional regional capacity on select routes in eastern Canada," said Mr Michael Rousseau, President and Chief Executive Officer of Air Canada.

"Chorus understands that Air Canada is increasing its capacity to meet travel demand and that the addition of these aircraft is a bridging solution. We confirm that this agreement does not impact Chorus financially," said Mr. Colin Copp, President and Chief Executive Officer of Chorus. 

Chorus is a leading, global aviation solutions provider and asset manager, focused on regional aviation. Our principal subsidiaries are: Falko Regional Aircraft, the leading pure-play regional aircraft asset manager and lessor, managing investments on behalf of third-party fund investors; Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand.

02 March, 2021

Air Canada ditching Sky Regional in favour of Jazz

Air Canada this week confirmed its plans to change its deals with Jazz and Sky Regional, which will see Air Canada will transfer the operation of its Embraer E175 fleet to Jazz from Sky Regional and Jazz will become the sole operator of Air Canada Express services. 

The revisions to the CPA are subject to Jazz reaching an agreement with the Air Line Pilots Association, International. If this condition is satisfied, the CPA will be amended on a retroactive basis to January 1, 2021.

"Air Canada is consolidating its regional flying with Jazz in response to the ongoing devastating impact of COVID-19 upon the airline industry. This necessary realignment of our regional services will help Air Canada achieve efficiencies and reduce operating costs and cash burn by consolidating its regional operations with one provider. Moreover, by streamlining the regional fleet, this agreement will also position Air Canada to operate more competitively with a single provider as traffic returns following the pandemic," said Richard Steer, Senior Vice President, Operations and Express Carriers.

25 April, 2020

Jazz Aviation and Air Canada Cargo to operate cargo only Dash 8-400

Photo Air Canada
Chorus Aviation's Jazz Aviation will be operating a special recently approved Dash 8-400 Simplified Package Freighter developed by De Havilland Canada to short and medium-haul markets under the Air Canada Express banner.   

Through its freight division Air Canada Cargo, these reconfigured aircraft will carry a total of 18,000 lbs [8,165 kg] of cargo in the passenger cabin and belly.

Under an agreement with De Havilland Canada, Jazz has ordered a Service Bulletin and conversion kit that will be applied to the first of 13 select Dash 8-400 aircraft. De Havilland Canada will be the exclusive supplier of all future Dash 8-400 aircraft Simplified Package Freighter modifications for Jazz's fleet. 

"De Havilland Canada's Dash 8-400 Simplified Package Freighter will allow us to redeploy aircraft, while contributing to the collective fight against COVID-19 by supporting our customer, Air Canada, in the delivery of essential cargo," said Randolph deGooyer, President, Jazz Aviation LP.  

08 February, 2019

Chorus aviation orders 9 CRJ900's

Chorus Aviation has agreed with Bombardier for the purchase of nine CRJ900 aircraft for its Jazz airline operating under the Air Canada Express brand. 

"The addition of these new CRJ900 aircraft is a significant step in modernising the Jazz fleet with larger aircraft while supporting the continued growth of our leasing revenue," said Joseph Randell, President and Chief Executive Officer, Chorus.  "The economics of this aircraft will enhance our competitive position and our ability to more effectively respond to the needs of our customer and changing market demand."

These nine 76-seat aircraft will be configured in two classes of service with 12 seats in business class and 64 seats in economy class, including 20 preferred economy seats. The aircraft will be fitted out with Bombardiers Atmosphere cabin and are scheduled for delivery from the first part of 2020. 

14 January, 2019

Air Canada Announces Improvements to Capacity Purchase Agreement with Jazz Aviation and Equity Investment of $97.26 million in Chorus

                           Air Canada today announced an agreement to amend and extend the Capacity Purchase Agreement (CPA) with Jazz Aviation LP, a wholly-owned subsidiary of Chorus Aviation Inc., under which Jazz currently operates certain regional Air Canada Express flights. The amendments should provide long term stability for Chorus, reaffirming Jazz as Air Canada's most significant Express carrier well into the future, as well as enabling growth on Chorus' leasing business through Air Canada's equity investment and the predictability of Jazz's cash flow from CPA operations until 2035.  The amendments will bolster the strength and competitiveness of the Air Canada Express brand and its coast-to-coast regional network, and provide significant CPA savings for Air Canada, while optimising network and fleet flexibility when compared to the current agreement.

Amendments to existing Capacity Purchase Agreement (CPA) with Jazz will extend duration of the CPA by ten years from January 1, 2026 to December 31, 2035; Amendments are subject to ratification of a tentative collective agreement between Jazz and ALPA on behalf of its pilots.
Amendments will simplify and modernise Jazz's fleet and provide additional regional fleet flexibility for Air Canada; Projected annual CPA savings of $50 million in each of 2019 and 2020 from both fixed fee and performance incentive reductions.
Upon Amendments becoming effective, Air Canada will make an equity investment of $97.26 million in Chorus and Michael Rousseau, Deputy Chief Executive Officer and Chief Financial Officer of Air Canada, will be appointed to Chorus' Board of Directors.

14 November, 2018

October results for Chorus Aviation announced

Chorus Aviation today announced third quarter financial results for the period ended September 30th, 2018. "Our business delivered solid performance in the third quarter of this year," said Joe Randell, President and Chief Executive Officer, Chorus.  "Our financial performance in the third quarter generated over $87.0 million in adjusted EBITDA, a $3.4 million or 4.0% increase over third quarter 2017 due primarily to growth in aircraft leasing.  Net income per basic share was $0.31."

Key month highlights
    Net income of $43.7 million, or $0.31 per basic share, inclusive of an unrealized foreign exchange gain of $14.0 million.
    Adjusted net income1 of $30.8 million, or $0.22 per basic share, a decrease of $18.0 million, of which $12.6 million was driven by changes in tax rates in 2017.
    Adjusted EBITDA1 of $87.1 million, an increase of $3.4 million or 4.0% primarily due to increased earnings from aircraft leasing.
    Continued execution on aircraft leasing strategy with the addition of three new customers and growth in third-party fleet to 33 aircraft, of which five will be delivered over the course of 2019.
    Expanded maintenance, repair and overhaul ('MRO') certifications to include Embraer 135 and 145 aircraft.
    Added airBaltic as a third-party airframe maintenance customer.
    Diversified parts provisioning offerings with the addition of Q400 inventory.
    Completed the eighth Extended Service Program ('ESP') on a Dash 8-300 aircraft.

06 November, 2018

Jambojet to lease two brand new Bombardier Q400s from Chorus Aviation

Jambojet Limited, a subsidiary of Kenya Airways has agreed a deal with Chorus Aviation for two brand new Bombardier Q400 turboprop aircraft that the Canadian Chorus will buy from the manufacturer and lease them to Jambojet.

Both aircraft are scheduled to be delivered and enter service during the second half of 2019 and will help the Kenyan airline further enhances its route network. "This agreement comes at a pivotal time in Jambojet's journey as we expand our footprint into the East Africa region and increase our frequencies to meet the high demand of affordable and quality air travel. We are looking forward to forging a strong relationship with Chorus for mutual growth." Willem Hondius, Chief Executive Officer of Jambojet, stated.

Steve Ridolfi, President of Chorus Aviation Capital, stated, "We are excited about the growth prospects for regional aviation in Africa and are particularly pleased to be working with Jambojet, a regional low-cost carrier based in Kenya, through this transaction." Once the deal is complete, Chorus Aviation Capital will have 13 lessees in 13 countries, two of which are based in Africa and in total, Chorus will have 80 aircraft on lease throughout the world.

25 October, 2018

Lion Air to lease four ATR72-600s from Chorus Avaition

Lion Air is to get four new ATR72-600's from Chorus Aviation Inc leasing arm its been confirmed today. This transaction marks the second multi-aircraft leasing transaction in the fast-growing Southeast Asia region for Chorus who already lease 78 aircraft to 12 lessees in 12 countries in the region.  

The first of these new ATR aircraft for Lion Air is scheduled for delivery in the fourth quarter of 2018, with the remaining three scheduled for delivery in the first and second quarters of 2019. It is anticipated that the aircraft will be operated by members of the Lion Air Group in Indonesia and Malaysia. 

Edward Sirait, Chief Executive Officer, Lion Air Group said, "We are delighted to start this new relationship with Chorus, as a lessor."

"We are very pleased to add Lion Air to our portfolio, expanding our global network of customers in line with Chorus' vision to deliver regional aviation to the world," said Steve Ridolfi, President, Chorus Aviation Capital.  "We are proud to have earned the trust of exceptional customers and continue to evaluate multiple opportunities as we expand our leasing business."

(Image ATR)

18 September, 2018

Three new Bombardier Q400s for Philippine Airlines from Chrous

Chorus Aviation from Canada has confirmed this week that is placing three Bombardier Q400 turboprops with Philippine Airlines on a long-term lease basis.  

The new Q400s are scheduled for delivery to Philippine Airlines during the latter part of this year and are the first leasing transactions in the fast-growing Southeast Asia region for the Halifax based Chorus Aviation.  The company's president, Steven Ridolfi said: "Philippine Airlines is a celebrated airline with a long and renowned history as the flag carrier of the Philippines, and we are very proud to count them amongst our customers."

PAL President & Chief Operating Officer Jaime J. Bautista said, "We are very pleased to form this working partnership with Chorus Aviation Capital and we look forward to building business ties with them. By joining their growing portfolio of aircraft lessees, Philippine Airlines will be able to further grow its domestic market. New aircraft help us to build new air links and increase flight frequencies on routes that are vital to national commerce."

16 May, 2018

Jazz Pilot Pathway Program Expands again to welcome Keewatin Air

Jazz Aviation, part of Chorus has signed an agreement with Winnipeg, Manitoba-based Keewatin Air for the carrier to become the eighteenth organization in the Jazz Aviation Pathways Programme -("Jazz APP").

"Our Jazz APP program was introduced 11 years ago to provide a clearer pathway for professional pilots across Canada," said Steve Linthwaite, Vice President, Flight Operations, Jazz. "We're very pleased to continue delivering on this commitment by welcoming Keewatin – who has operational bases as far north as Cambridge Bay, Rankin Inlet and Iqaluit, NU – to elevate our Jazz APP further, into a truly Canadian concept."

09 May, 2018

Chorus Aviation announces solid first quarter earnings

Chorus Aviation announced solid first quarter financial results for the period ended March 31, 2018, last week. Here are some of the key numbers.....
Net income of $5.1 million, or $0.04 per basic share, inclusive of an unrealized foreign exchange loss of $18.0 million.
Adjusted net income1 of $26.5 million, or $0.21 per basic share.
Increase in Adjusted EBITDA1 of $23.6 million or 43% primarily driven by increased revenue from aircraft leasing.
Completed equity raise of approximately $112.0 million in gross proceeds.
Completed leasing transaction with Dublin-based CityJet for two CRJ900s.
Implemented Dividend Reinvestment Plan offering a 4% discount.
Completed the fifth Extended Service Program ('ESP') on a Dash 8-300 aircraft.
Jazz Airport Services employees, representing approximately 15% of Jazz's workforce, ratified a new collective agreement with a term to January 2022.

25 April, 2018

Chorus Aviation honoured with Bombardier's top Reliability Awards

Chorus Aviation announced today that its subsidiary, Jazz Aviation LP ('Jazz'), has once again been recognized for achieving superior reliability performance in 2017 at Bombardier's annual award ceremony for commercial aircraft operators held in Orlando, Florida on April 23, 2018.

"We are honoured to be the North American award winner in two categories of exceptional reliability performance," said Colin Copp, President, Jazz. "This recognition can be attributed to the exceptional expertise of Jazz Technical Services and Maintenance and Engineering teams, and their unrivalled experience with Bombardier regional aircraft as an Authorized Service Facility (ASF)."

Jazz is the North American recipient of Bombardier's 2017 Airline Reliability Performance Awards in two categories:

CRJ100/200 aircraft programs for North America
CRJ700/900/1000 aircraft programs for North America
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21 March, 2018

Chorus Aviation Announces Leasing Transaction with CityJet

Chorus Aviation Inc. announced today the acquisition of two Bombardier CRJ900 aircraft for lease to CityJet of Dublin, Ireland. The aircraft were purchased from CityJet pursuant to a sale and leaseback transaction. These aircraft are two years old and constitute incremental additions to Chorus Aviation Capital's growing regional aircraft fleet.

16 February, 2018

Chorus Aviation announces solid year-end 2017 and fourth quarter earnings

Chorus Aviation announced yesterday, solid year-end and fourth quarter financial results for fiscal year ended December 31, 2017.

"I'm very pleased with the significant progress made in 2017 towards our vision of delivering regional aviation to the world," said Joe Randell, President and Chief Executive Officer, Chorus.  "The successful launch of Chorus Aviation Capital and its rapid build to a global business has propelled the value of Chorus' portfolio of leased aircraft to over one billion dollars and demonstrated the strength of our growth and diversification strategy. We have been methodical and deliberate in deploying the $200 million gross proceeds from our convertible debt unit financing with Fairfax Financial. Within a relatively short period of time we've concluded leasing agreements with eight well-established regional carriers in eight countries located on six continents. We have strong momentum.