HALIFAX,
NS, June 21, 2022 /CNW/ - Chorus Aviation Inc.
('Chorus') (TSX: CHR) today announced that its wholly owned
subsidiary, Falko Regional Aircraft Limited ("Falko"), has expanded
its portfolio of assets under management.
Falko has added a total of 35 turboprop aircraft to its
portfolio in a servicing capacity on behalf of a syndicate of
banks.
Joe Randell, President and Chief
Executive Officer, Chorus stated "I'm pleased to see the continued
expansion of our asset management business and to demonstrate the
ability of Falko to continue to diversify its customer base."
"This transaction further validates our belief in the
attractiveness of the regional aircraft market and in Falko, as a
market-leading aircraft asset management company," Mr. Randell
concluded.
This transaction is not expected to impact the financial
forecast set out in Chorus' news release dated May 5, 2022.
About Chorus Aviation Inc.
Chorus' vision is to deliver regional aviation to the world.
Headquartered in Halifax, Nova
Scotia, Chorus is an integrated provider of regional
aviation solutions, including asset management services.
Its principal subsidiaries are: Falko Regional Aircraft, the
world's largest aircraft lessor and asset manager focused solely on
the regional aircraft leasing segment; Jazz Aviation, the sole
provider of regional air services to Air Canada; and Voyageur
Aviation, a provider of specialty air charter, aircraft
modification, and parts provisioning services to regional aviation
customers around the world. Together, Chorus' subsidiaries
provide support 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.
Chorus Class A Variable Voting Shares and Class B Voting Shares
trade on the Toronto Stock Exchange under the trading symbol 'CHR'.
Chorus 6.00% Senior Debentures due December
31, 2024, 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', 'CHR.DB.A', 'CHR.DB.B', and
'CHR.DB.C' respectively. www.chorusaviation.com
Forward-looking information
This news release may contain 'forward-looking information'.
Forward-looking information is identified by the use of terms and
phrases such as "anticipate", "believe", "could", "estimate",
"expect", "intend", "may", "plan", "predict", "potential",
"project", "will", "would", and similar terms and phrases,
including references to assumptions. Forward-looking information
involves known and unknown risks, uncertainties and other factors
that may cause actual results, performance or achievements to
differ materially from those indicated in the forward-looking
information. Actual results may differ materially from results
indicated in forward-looking information for a number of reasons,
including the factors identified in Chorus' public disclosure
record available at www.sedar.com and the risk factors
identified in Chorus' Annual Information Form dated February
16, 2022 (as updated by the risk factors identified in Chorus'
Management's Discussion and Analysis of Operations and Financial
Condition dated May 5, 2022). Statements containing
forward-looking information represent Chorus' expectations as of
the date made (or as of the date they are otherwise stated to be
made) and are subject to change after such date. Chorus disclaims
any intention or obligation to update or revise such statements to
reflect new information, subsequent events or otherwise, unless
required by applicable securities laws.
SOURCE Chorus Aviation Inc.