Delivering regional aviation to the world
HALIFAX, NS, Dec. 23, 2020 /CNW/ – Chorus Aviation Inc. (‘Chorus’) (TSX: CHR) announced today the delivery of two new Airbus A220-300 aircraft to airBaltic of Latvia. The aircraft (MSNs 55094 and 55095) are the final two of five units placed on long-term lease with the airline through a committed sale and leaseback transaction announced on November 20, 2019.
In December 2013, airBaltic became the first operator of the A220-300 aircraft and in May 2020, the carrier re-launched as an all Airbus A220 airline. "airBaltic continues to safely expand its services following the pandemic crisis and is offering flights to more than 65 destinations from all three Baltic countries," said Vitolds Jakovļevs, Chief Financial Officer, airBaltic. "The aircraft has performed beyond the airline’s expectations, delivering better overall performance and fuel efficiency while offering an excellent flying experience."
"We applaud airBaltic’s successful resumption and expansion of services across Europe," stated Joe Randell, President and Chief Executive Officer, Chorus. "The state-of-the-art, Canadian-built A220 aircraft is leading the charge in helping airlines around the world resume operations as travel demand increases with the implementation of rapid testing and distribution of vaccines to limit the spread of COVID-19."
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, 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 65 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 25 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.