Chorus Aviation Inc. · TSX:CHR
Chorus Aviation — Investor Presentation (February 2025)
18 slides from Chorus Aviation's investor presentation, February 2025
Slide 1: Investor Presentation
TSX: CHR Investor Presentation February 2025
Slide 2: Contents
2 Contents 1. Key Investment Highlights 2. Q4/YE Financial Highlights 3. Chorus Team 4. Chorus Businesses 5. Growth Opportunities 6. Capital Allocation Priorities Appendices 1. Fleet 2. Jazz, Air Canada Express Operator 3. Voyageur, Speciality Service Provider 4. Cygnet, Accredited Pilot Training Ac
Slide 3: Notice to Reader
3 Notice to Reader This presentation contains forward-looking information and statements within the meaning of applicable securities laws (collectively, “forward-looking information”). Forward-looking information is identified by the use of terms and phrases such as “anticipate”, “believe”, “could”,
Slide 4: Key Investment Highlights
4 Key Investment Highlights Aviation solutions provider to customers worldwide Long-term contracted cash flows Strategic transformation in 2024 unlocks value for shareholders
Slide 5: Core Competencies
5 Core Competencies 1. Structuring and negotiating long-term fixed payment contracts with large blue-chip customers, including commercial airlines and government agencies 2. Developing and building strong relationships through consistently delivering on contractual commitments by providing high qual
Slide 6: 2024 Financial Highlights
2024 Financial Highlights 6 • Leverage Ratio improved to 1.4 at December 31, 2024, from 3.3 at December 31, 2023. • Adjusted Earnings available to Common Shareholders of $28.5 million. • Adjusted EBITDA of $211.6 million. • Free Cash Flow of $118.8 million. Adjusted Adjusted $28.5 Free Cash Flow Lev
Slide 7: About Chorus
About Chorus 7 Colin Copp Gary Osborne Randolph deGooyer Dennis Lopes President and Chief Executive Chief Financial Officer Chief Operating Officer Chief Legal Officer and Officer Corporate Secretary We have an exceptional roster of industry 36 Years 32 Years 32 Years 11 Years veterans with an exten
Slide 8: Our Lines of Business
8 Our Lines of Business The largest regional A leading provider of An industry leading operator in Canada and specialty charter, aircraft accredited training provider of regional air modifications, parts academy developing services under the Air provisioning and in- airline ready pilots Canada Expre
Slide 9: Growth Opportunities
9 Growth Opportunities • Chorus is focused on high-potential Aerospace Defence sectors, leveraging substantial Pilot Training strengths and capabilities in aviation services • Contract and specialty aviation are profitable niche markets Regional Parts Provisioning Growth • Chorus intends to grow thr
Slide 10: Capital Allocation Priorities
10 Capital Allocation Priorities Growth Investment Target Adjusted return on equity target of mid-teens for organic Accretive growth and acquisitions Growth and Return of Return of Capital Capital to Shareholders Returning capital to shareholders through normal course issuer bid while evaluating oth
Slide 11: Appendices
11 Appendices
Slide 12: Fleet
12 Fleet Current Aircraft1 = 135 Covered Aircraft Under the CPA Covered Aircraft Total Covered Aircraft 48 106 Leased Under the CPA 2025 (Owned) Under the CPA 34 Dash 8-400 45 Leased Aircraft (Owned) 14 CRJ900 61 Other Covered Aircraft Voyageur Aircraft (Owned) Total Covered Aircraft 21 2026 80 6 CR
Slide 13: Jazz is Air Canada’s Largest Regional Partner
13 Jazz is Air Canada’s Largest Regional Partner • Fixed fee defined until 2035 • Lease income from aircraft CPA in effect until 2035 • Incentives related to operational performance 114 67 450 8.9 M 4,500+ Aircraft Destinations in Flights operated Passengers carried Employees Canada daily annually a
Slide 14: The capacity purchase agreement model is well used throughout North America and Europe
14 The capacity purchase agreement model is well used throughout North America and Europe Mainline operator purchases the capacity from the regional carrier Jazz Minimal Downside Risk Jazz Responsibilities No revenue risk, such as: • Ticket prices • Aircraft operations • Passenger load factor • Hiri
Slide 15: Jazz is generally reimbursed for the costs it incurs to operate
15 Jazz is generally reimbursed for the costs it incurs to operate Cost Category Description Earnings Risk Pass-through Full reimbursement No impact Cost of non-controllable costs Reimbursement of controllable costs +/- $2M Annual unit rates developed based on planned Capex recaptured in Controllabl
Slide 16: Voyageur - A Specialty Service Provider
16 Voyageur - A Specialty Service Provider 21 450+ 350+ 200,000 Aircraft Customers Employees Sq. ft. facility in North Bay, Ontario
Slide 17: Voyageur Areas of Work
17 Voyageur Areas of Work Specialty Special Mission Part Sales MRO Flying • Large facility supports aircraft transitions and storage • Engineered and modified former CPA Dash-8 100 aircraft to Package • Aircraft engineering modifications Freighter and overhaul capabilities to support transition • Di
Slide 18: Cygnet is an accredited pilot training academy preparing pilots for direct entry into airlines
18 Cygnet is an accredited pilot training academy preparing pilots for direct entry into airlines 12 2 2 18 Diamond Aircraft ALSIM Simulators Pilot Training Month Training Streams Program
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