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Chorus Aviation completes acquisition of Falko Regional Aircraft
Chorus Aviation completes acquisition of Falko Regional Aircraft Canada NewsWir...
About this update from Chorus Aviation Inc.
[{"type":"text","content":"\n \n \n \n Chorus Aviation completes acquisition of Falko Regional Aircraft\n \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 Canada NewsWire\n \n \n \n \n Creates world's largest aircraft lessor focused solely on serving the regional aviation segment\n \n \n \n \n HALIFAX, NS\n \n \n ,\n \n \n May 3, 2022\n \n \n /CNW/ - Chorus Aviation Inc. ('Chorus') (TSX: CHR) announces that it has completed its acquisition of Falko Regional Aircraft Limited ('Falko'), as previously\n \n announced\n \n on\n \n February 27, 2022\n \n . This acquisition transforms Chorus into a premier full-service provider in regional aviation with unique capabilities to maximize value at every stage of an aircraft's lifecycle.  The completion of this transaction establishes Chorus as the world's largest aircraft lessor focused solely on investing in the regional aircraft leasing space, and results in a portfolio of 348 regional aircraft with an aggregate value of approximately\n \n US$4.5 billion\n \n which are owned, managed, and/or operated by Chorus subsidiaries. As contemplated by the acquisition agreement, Chorus expects to acquire the beneficial interests in five aircraft trusts on a deferred basis prior to the end of the second quarter of 2022 (subject to the satisfaction or waiver of specified conditions applicable to those transactions) bringing the total to 353 aircraft.\n \n \n \"I'm extremely pleased and very optimistic about our future growth opportunities,\" said\n \n Joe Randell\n \n , President and Chief Executive Officer, Chorus. \"This transformative acquisition establishes Chorus as the world's largest aircraft lessor focused on the regional aviation segment and a leading worldwide provider in all aspects of regional aviation.  Further, the transaction is expected to be accretive to earnings and earnings per share in 2022\n \n \n 1\n \n \n .  With the addition of Falko's asset management platform, we will shift to growing our leasing business through an asset light model, significantly increasing cash flow generation, impro...