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Chorus Aviation announces portfolio transaction for six regional aircraft
Chorus Aviation announces portfolio transaction for six regional aircraft Canada N...
About this update from Chorus Aviation Inc.
[{"type":"text","content":"\n\n\n\nChorus Aviation announces portfolio transaction for six regional aircraft\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nHALIFAX, Feb. 21, 2019\n\n\n\nDelivering regional aviation to the world \n HALIFAX, Feb. 21, 2019 /CNW/ - Chorus Aviation Inc. ('Chorus') (TSX: CHR) announced today an agreement by Chorus Aviation Capital to acquire a portfolio of six aircraft with leases attached.  The portfolio consists of two ATR72-600s on lease to Azul of Brazil, and four Q400s on lease to two other existing customers of Chorus Aviation Capital.  With these acquisitions, Chorus' suite of leased regional aircraft (inclusive of nine transactions pending completion) has reached 40 aircraft, comprising 28 turboprops and 12 regional jets valued at approximately US $850 million. \n\"We are delighted to secure this portfolio acquisition, which will add six more attractive turboprop aircraft to our global fleet and further our relationships with our customers,\" commented Steven Ridolfi, President, Chorus Aviation Capital.  \"With the establishment of our new US $300 million credit facility and the capital we have on hand, I'm confident the momentum achieved in our growth strategy will continue to build.\"\nThe acquisitions of the aircraft on lease to Azul have been completed. The acquisitions of the aircraft on lease to the two other lessees remain to be completed subject to satisfaction of customary conditions precedent to closing.\nAbout Chorus Aviation Capital\nEstablished in 2017, Chorus Aviation Capital currently has relationships with 12 regional airlines based in 12 countries. The company is focused on building a portfolio of new and mid-life regional aircraft, while leveraging the synergies inherent among its affiliated companies to provide a full suite of regional aviation services.\nAbout Chorus Aviation Inc.\nHeadquartered in Halifax, Nova Scotia, Chorus was incorporated on September 27, 2010. Chorus' vision is to deliver regional aviation to the world. Chorus has been leasing its owned regional ai...