Chorus Aviation Inc. Announces First Quarter 2026 Financial Results

About this update from Chorus Aviation Inc.

Stable Cash Flow Profile, Strategic Expansion, Continued Capital Returns HALIFAX, NS, May 7, 2026 /CNW/ - Chorus Aviation Inc. ('Chorus') (TSX: CHR) today announced its first quarter 2026 financial results. "Our first quarter results were in line with expectations, reflecting the stability of our contracted business and consistent execution across the organization," said Colin Copp, President and Chief Executive Officer, Chorus. "During the quarter, we advanced our strategy to diversify and strengthen our platform, including the acquisition of KADEX Aero Supply, which expands our high-margin aftermarket capabilities and enhances our position in the aviation supply chain and defence markets. We ended the quarter with strong liquidity and a leverage ratio of 1.5x, providing flexibility to invest in growth while continuing to return capital to shareholders." "Together with the declaration of our quarterly dividend, ongoing aircraft monetization and continued share repurchases, these actions reflect our disciplined approach to capital allocation and confidence in the long-term strength and cash flow profile of the business," added Mr. Copp. Q1 2026 Financial Highlights In the first quarter of 2026, Chorus reported Adjusted EBITDA of $44.3 million, a decrease of $12.6 million compared to the first quarter of 2025 primarily due to: Adjusted Net Income was $12.6 million for the quarter, a decrease of $2.7 million compared to the first quarter of 2025 primarily due to: Net income was $7.0 million, a decrease of $11.9 million compared to the first quarter of 2025 primarily due to: Completed KADEX Acquisition On April 1, 2026, Chorus completed the acquisition of KADEX for a net purchase price of $50.0 million and expects the acquisition to be immediately accretive to earnings and Free Cash Flow, with anticipated mid-teens returns. Progressed Aircraft Sales In 2025, Chorus executed agreements to sell nine Dash 8-400s as they exit the fleet in accordance with the CPA for estimated net proceeds of US $62.0 million, subject to customary closing conditions. Four aircraft have been sold to-date, with the remaining five expected to close by July 2026 generating net proceeds of approximately US $36.4 million. Continued Share Buybacks On February 12, 2026, Chorus renewed its normal course issuer bid ("NCIB"), under which it is...

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