MONTREAL and HALIFAX, NS, May 30, 2023
/CNW/ - Air Canada (TSX: AC) and Chorus Aviation Inc.
(TSX: CHR) ("Chorus"), parent company of Jazz Aviation LP
("Jazz"), are providing comment on Air Canada's arrangement for
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 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.
Caution Regarding Forward-Looking Information
This
news release may include forward-looking information within the
meaning of applicable securities laws. Forward-looking information,
by its nature, is based on assumptions and is subject to important
risks and uncertainties. Forward-looking information cannot be
relied upon due to, among other things, changing external events
and general uncertainties of the business. Actual results may
differ materially from results indicated in forward-looking
information due to a number of factors, including the risk factors
described in Air Canada's and Chorus' respective public disclosure
records available at www.sedar.com. Any forward-looking
information contained in this news release represents expectations
as of the date of this news release and is subject to change after
such date. However, except as required under applicable securities
regulations, any intention or obligation to update or revise any
forward-looking information whether as a result of new information,
future events or otherwise, is disclaimed.
About Air
Canada
Air Canada is Canada's largest
airline, the country's flag carrier and a founding member
of Star Alliance, the world's most comprehensive air
transportation network. Air Canada provides scheduled
service directly to more than 180 airports in Canada, the
United States and Internationally on six continents. It holds
a Four-Star ranking from Skytrax. Air Canada's Aeroplan
program is Canada's premier travel loyalty program, where
members can earn or redeem points on the world's largest airline
partner network of 45 airlines, plus through an extensive range of
merchandise, hotel and car rental rewards. Its freight division,
Air Canada Cargo, provides air freight lift and
connectivity to hundreds of destinations across six continents
using Air Canada's passenger and freighter aircraft.
Air Canada has committed to a net zero emissions goal
from all global operations by 2050. Air Canada shares are
publicly traded on the TSX in Canada and the OCTQX in the
US.
Internet: aircanada.com/media
About Chorus Aviation Inc.
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; Voyageur Aviation, a leading
provider of specialty charter, aircraft modifications, parts
provisioning and in-service support services; and Cygnet Aviation
Academy, an industry leading accredited training academy preparing
pilots for direct entry into airlines. Together, Chorus'
subsidiaries provide services that encompass every stage of a
regional aircraft's lifecycle, including: aircraft acquisition and
leasing; aircraft refurbishment, engineering, modification,
repurposing and transition; contract flying; aircraft and component
maintenance, disassembly, and parts provisioning; and pilot
training.
Chorus Class A Variable Voting Shares and Class B Voting Shares
trade on the Toronto Stock Exchange under the trading symbol 'CHR'.
Chorus 5.75% Senior Unsecured Debentures due December 31, 2024, 6.00% Convertible Senior
Unsecured Debentures due June 30,
2026, and 5.75% Senior Unsecured Debentures due June 30, 2027 trade on the Toronto Stock Exchange
under the trading symbols 'CHR.DB.A', 'CHR.DB.B', and 'CHR.DB.C'
respectively.
Internet: www.chorusaviation.com.
SOURCE Air Canada