Delivering regional aviation to the world
HALIFAX, NS, Sept. 21, 2020 /CNW/ – Chorus Aviation Inc. (‘Chorus’) (TSX: CHR) announced today the delivery of a new Airbus A220-300 aircraft to airBaltic of Latvia. The aircraft (MSN 55086) is the third of five units to be placed on long-term lease with the airline through a committed sale and leaseback transaction. The two remaining aircraft are expected to be delivered later this year.
airBaltic has safely resumed and expanded its services following the pandemic crisis and is now connecting 35 European destinations to its Riga hub. "The recent crisis enabled us to push forward our decision to introduce an Airbus A220-300 single type fleet. It allows us to minimize complexity and benefit from the additional efficiency provided by the aircraft. With a partner like Chorus Aviation, we will continue our growth and add additional jets in the future," said Martin Gauss, President and Chief Executive Officer, airBaltic.
"We’re very encouraged and pleased to help support airBaltic’s resumption and expansion of services across Europe," stated Joe Randell, President and Chief Executive Officer, Chorus. "The A220 is leading the pack of aircraft returning to the skies as operators around the world slowly begin to resume flight operations. This state-of-the-art, Canadian-built aircraft has the right economics and passenger appeal to help operators recover from the negative effects caused by the COVID-19 pandemic."
This news release contains ‘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, by its nature, is based on assumptions regarding future events and circumstances, and is therefore subject to important risks and uncertainties that may cause actual results to differ materially from those expressed in forward-looking information. Actual results may differ materially from those expressed in this news release for a number of reasons, including the impact of the COVID-19 pandemic on the aviation industry and the contractual counterparties of Chorus and its subsidiaries, the failure to satisfy the conditions precedent to the closing of the future aircraft deliveries referenced in this news release, as well as the risk factors identified in Chorus’ most recent Management’s Discussion & Analysis and Annual Information Form and in Chorus’ public disclosure record available at www.sedar.com.
airBaltic (Air Baltic Corporation AS) is one of the most punctual airlines in the world connecting the Baltic region with over 60 destinations in Europe, the Middle East, and the CIS. airBaltic is a joint stock company that was established in 1995. Its primary shareholder is the Latvian state, which holds 96.14% of the stock, while Lars Thuesen holds 3.86% through his fully-owned Aircraft Leasing 1 SIA. airBaltic operates 22 Airbus A220-300 aircraft. airBaltic has received numerous international awards for excellence and innovative services. In 2017, the airline received the CAPA Regional Airline of the Year award, while in 2018 and 2019 airBaltic received the ATW Airline Industry Achievement Award as the Market Leader of the Year. In addition, in 2019 airBaltic received Sector Leadership Award by Airline Business.
About Chorus Aviation Inc.
Chorus is a global provider of integrated regional aviation solutions. Chorus’ vision is to deliver regional aviation to the world. Headquartered in Halifax, Nova Scotia, Chorus is comprised of Chorus Aviation Capital a leading, global lessor of regional aircraft, and Jazz Aviation and Voyageur Aviation – companies that have long histories of safe operations with excellent customer service. Chorus provides a full suite of regional aviation support services that encompasses every stage of an aircraft’s lifecycle, including aircraft acquisitions and leasing; aircraft refurbishment, engineering, modification, repurposing and preparation; 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’. www.chorusaviation.com
SOURCE Chorus Aviation Inc.