Chorus Aviation Inc. · TSX:CHR
Chorus Aviation — Jazz Air Income Fund — Shareholder Meeting (May 2010)
33 slides from Chorus Aviation's shareholder meeting presentation, May 13, 2010
Slide 1: Jazz Air Income Fund Annual Meeting of Unitholders
Jazz Air Income Fund Annual Meeting of Unitholders May 13, 2010 | Vancouver, British Columbia flyjazz.ca
Slide 2: Richard McCoy, Chairman and Trustee
Jazz Air Income Fund Annual Meeting of Unitholders Richard McCoy Chairman and Trustee flyjazz.ca
Slide 3: Joseph D. Randell, President and CEO
Jazz Air Income Fund Annual Meeting of Unitholders Joseph D. Randell President and Chief Executive Officer flyjazz.ca
Slide 4: Barbara Snowdon, General Counsel and Corporate Secretary
Jazz Air Income Fund Annual Meeting of Unitholders Barbara Snowdon General Counsel and Corporate Secretary flyjazz.ca
Slide 5: Allan Rowe, Chief Financial Officer
Jazz Air Income Fund Annual Meeting of Unitholders Allan Rowe Chief Financial Officer flyjazz.ca
Slide 6: Jazz Air Income Fund Annual Meeting of Unitholders
Jazz Air Income Fund Annual Meeting of Unitholders May 13, 2010 | Vancouver, British Columbia flyjazz.ca
Slide 7: Disclaimer
Disclaimer CAUTION REGARDING FORWARD-LOOKING INFORMATION Certain statements in this presentation may contain statements which are forward-looking statements. These forward- looking statements are identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect
Slide 8: Agenda
Agenda 2009 Performance Overview Business Development Initiatives Q1-2010 and Beyond flyjazz.ca
Slide 9: Strong Operational Performance
Strong Operational Performance 86.0% 99.2% On-time Flight Performance Completion flyjazz.ca
Slide 10: A leader in operational performance
A leader in operational performance Year 2009 – arrivals within 15 minutes 84.0% 77.3% 78.6% flyjazz.ca
Slide 11: Jazz OTP versus US carriers
Jazz OTP versus US carriers Year 2009 – arrivals within 15 minutes Rank Carrier 2009 OTP Rank Carrier 2009 OTP 1 Hawaiian 91.76% 11 Expressjet 78.22% 2 Jazz 84.00% 12 Continental 77.91% 3 Southwest 82.47% 13 Delta 77.84% 4 Alaska 82.38% 14 Jetblue 77.20% 5 SkyWest 81.70% 15 American Eagle 76.53% 6 F
Slide 12: Strong financial results
Strong financial results Jazz Air Income Fund Year ended December 31, 2009 ($ million) Year end 2009 Operating Revenue 1,473.9 Performance Incentives 19.0 Distributable Cash 139.3 EBITDA 159.0 Net Income 92.6 flyjazz.ca
Slide 13: CPA with Air Canada
CPA with Air Canada Re-negotiated rates for controllable costs Period of 2009 to 2011 Achievable cost levels Amended CPA benefits both Jazz and Air Canada Five-year contract extension to 2020 Confirmed target of 375,000 annual block hours Markup reduced from 16.72% to 12.50% on first 3
Slide 14: CPA provides for fleet renewal
CPA provides for fleet renewal 15 Bombardier Q400 NextGen to replace CRJ100/200 Delivery will begin in May 2011 Aircraft features: LED lighting New ceiling panels Dished window sidewalls Larger overhead bins Active Noise and Vibration Suppression (ANVS) system Operating costs among
Slide 15: Taking prudent steps
Taking prudent steps Cash distributions Reduced to $0.60/unit annually Reflect amended CPA/term extension New level sustainable going forward Debenture transaction Principal amount of $75 million Over-allotment option of $11.25 million Successfully completed on November 12, 2009 Fu
Slide 16: Committed to our people
Committed to our people JazzNet intranet Message Centre Jazz Snapshot sessions Extensive review of payroll, pension and benefits functions Electronic pay stubs – environmentally friendly solution $13.8 million in profit sharing flyjazz.ca
Slide 17: Labour agreements
Labour agreements Ratified agreements to date CAW Maintenance – September 12, 2009 CAW Airports – December 16, 2009 CALDA – March 25, 2010 Negotiations continue with other groups – crew schedulers, flight attendants and pilots Goal Achieve mutually beneficial agreements that will enabl
Slide 18: Executive appointments
Executive appointments Colin Copp appointed Chief Administrative Officer Jolene Mahody appointed Chief Operating Officer flyjazz.ca
Slide 19: Safety is our top priority
Safety is our top priority Implemented programs and initiatives to remain among the safest airlines in the world New process designed to help prevent potential future occurrences flyjazz.ca
Slide 20: Agenda
Agenda 2009 Performance Overview Business Development Initiatives Q1-2010 and Beyond flyjazz.ca
Slide 21: Partnership with Thomas Cook
Partnership with Thomas Cook Fly from Canadian gateways to various sun destinations Winter season (November through April) Jazz will operate six B757-200s initially $100 million additional annual revenues Potential to grow contract to 11 aircraft Term ending April 30, 2012 or April 30, 2
Slide 22: Investment in Pluna S.A.
Investment in Pluna S.A. $15 million US investment - 25% indirect interest in Pluna Uruguay’s flagship airline Jazz and Pluna operate common aircraft types Significant return on investment Latin America is world’s 2nd fastest growing air travel market IATA projects 12.2% growth in 2010
Slide 23: Agenda
Agenda 2009 Performance Overview Business Development Initiatives Q1-2010 and Beyond flyjazz.ca
Slide 24: First quarter 2010 earnings
First quarter 2010 earnings Jazz Air Income Fund Period ended March 31, 2010 ($ million) Q1 2010 Operating revenue 355.4 Operating income 8.8 Net income 6.5 Distributable cash 18.5 flyjazz.ca
Slide 25: Looking ahead
Looking ahead Corporate conversion Completion by year end Special meeting of unitholders targeted for September 2010 Completion of labour negotiations Pilots Flight attendants Crew schedulers flyjazz.ca
Slide 26: Driving force behind Jazz's success
Driving force behind Jazz’s success flyjazz.ca
Slide 27: Executive Team: Colin Copp
Executive Team Colin Copp Chief Administrative Officer flyjazz.ca
Slide 28: Executive Team: Jolene Mahody
Executive Team Jolene Mahody Chief Operating Officer flyjazz.ca
Slide 29: Executive Team: Rick Flynn
Executive Team Rick Flynn Vice President, Finance flyjazz.ca
Slide 30: Executive Team: Steve Linthwaite
Executive Team Steve Linthwaite Vice President, Operations flyjazz.ca
Slide 31: Executive Team: Richard Steer
Executive Team Richard Steer Vice President, Maintenance and Engineering flyjazz.ca
Slide 32: Executive Team: Scott Tapson
Executive Team Scott Tapson Vice President, Business Development flyjazz.ca
Slide 33: Jazz Air Income Fund Annual Meeting of Unitholders
Jazz Air Income Fund Annual Meeting of Unitholders May 13, 2010 | Vancouver, British Columbia flyjazz.ca
Jazz Air Income Fund — Shareholder Meeting (May 2010) on 6ix