Chorus Aviation announces acquisition of two Embraer 195 aircraft on lease to Azul Brazilian Airlines - Sep 28, 2017

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Chorus Aviation announces acquisition of two Embraer 195 aircraft on lease to Azul Brazilian Airlines

Sep 28, 2017

HALIFAX, Sept. 28, 2017 /CNW/ - Chorus Aviation Inc. ('Chorus') (TSX: CHR) announced today the acquisition of two Embraer 195 aircraft which are currently on lease to Azul Linhas Aéreas Brasileiras S.A. ('Azul Brazilian Airlines'). The aircraft are four years old and constitute incremental additions to Chorus Aviation Capital's growing regional aircraft fleet.

"We're pleased to welcome Azul Brazilian Airlines to our growing list of high-quality lessees, as well as the addition of the Embraer 195 aircraft to our expanding fleet of regional aircraft," commented Steven Ridolfi, President, Chorus Aviation Capital. 

"Chorus Aviation Capital is gaining momentum," said Joe Randell, President and Chief Executive Officer, Chorus. "In the last four months alone, Chorus Aviation Capital has acquired or signed purchase agreements for ATR-72-600s, Embraer 190s, Embraer 195s and CRJ1000s. We are executing strongly, adding highly desirable regional aircraft from the top three manufacturers while building relationships with some of the most reputable regional airlines in the world."

About Chorus

Headquartered in Halifax, Nova Scotia, Chorus was incorporated on September 27, 2010. Chorus' vision is to deliver regional aviation to the world. Chorus owns Jazz Aviation and Voyageur Aviation –  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. Chorus has been leasing its owned regional aircraft into Jazz's Air Canada Express operation since 2009, and recently established Chorus Aviation Capital to become a leading, global provider of regional aircraft leases and support services. Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol 'CHR'. For more information about Chorus and its subsidiaries, see www.chorusaviation.ca.

Forward-Looking Information

This news release may contain "forward-looking information" as defined under applicable Canadian securities legislation. Forward-looking information typically contains words such as "anticipate", "believe", "could", "should", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would", and similar words and phrases, including references to assumptions. Such information may involve but is not limited to comments with respect to strategies, expectations, planned operations or future actions. Forward-looking information related to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and other uncertain events. Forward looking information, by its nature, is based on assumptions, including those described below, and is subject to important risks and uncertainties. Any forecasts or forward-looking predictions or statements cannot be relied upon due to, amongst other things, changing external events and general uncertainties of the business. Such statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to differ materially from those expressed in the forward-looking statements. For a further discussion of risks, please refer to the section titled "Risk Factors" in Chorus' Annual Information Form dated February 15, 2017. Any statements containing forward-looking information in this news release represent Chorus' expectations as of September 28, 2017. Chorus disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

 

SOURCE Chorus Aviation Inc.

For further information: Chorus Media Contacts: Manon Stuart, Halifax, Nova Scotia, (902) 873-5054, mstuart@chorusaviation.ca; Debra Williams, Toronto, Ontario, (905) 671-7769, dwilliams@chorusaviation.ca; Analyst Contact: Nathalie Megann, Halifax, Nova Scotia, (902) 873-5094, nmegann@chorusaviation.ca


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Key Contacts
Chorus Aviation Inc.               Transfer Agent:
3 Spectacle Lake Drive       Nathalie Megann       AST Trust Company
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(902) 873-5000       (902) 873-5094       Halifax, NS B3J 3B7
investorsinfo@chorusaviation.ca       nmegann@chorusaviation.ca       1-800-387-0825
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