Chorus Aviation delivers fourth CRJ1000 aircraft to Air Nostrum and completes acquisition of an Embraer 190 aircraft on lease to Aeromexico Connect - Sep 28, 2017

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Chorus Aviation delivers fourth CRJ1000 aircraft to Air Nostrum and completes acquisition of an Embraer 190 aircraft on lease to Aeromexico Connect

Sep 28, 2017

HALIFAX, Sept. 28, 2017 /CNW/ - Chorus Aviation Inc. ("Chorus") (TSX: CHR) announced today the delivery of a fourth new Bombardier CRJ1000 regional jet on long-term lease to Air Nostrum, Lineas Aereas Del Mediterraneo, S.A. ('Air Nostrum'). On November 9, 2016, Chorus announced plans to purchase and lease four new CRJ1000 regional jets to Air Nostrum.

Chorus also announced today that a Chorus Aviation Capital subsidiary had completed the acquisition of an Embraer 190 aircraft currently on lease to Aerolitoral, S.A. de C.V. ('Aeromexico Connect'). This acquisition agreement was previously announced on July 17, 2017.

"We are pleased to place a fourth CRJ1000 with Air Nostrum, and delighted to welcome Aeromexico Connect to our growing pool of airline lessees," commented Steven Ridolfi, President, Chorus Aviation Capital. "We now have relationships with seven well-established, major regional airlines in seven countries and are well on our way to building a leading global regional aircraft leasing company."

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, NS, (902) 873-5054, mstuart@chorusaviation.ca, Debra Williams, Toronto, ON, (905) 671-7769, dwilliams@chorusaviation.ca, Analyst Contact: Nathalie Megann, Halifax, NS, (902) 873-5094, nmegann@chorusaviation.ca


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