Concludes year with added leases to Croatia Airlines and IndiGo, and charter extensions to Aeromexico Connect
Third-party committed busy agile has now accomplished 641 aircraft
HALIFAX , Jan. 13, 2020 /CNW/ – Chorus Aerodynamics Inc. (‘Chorus’) (CHR.TO) appear today that Chorus Aerodynamics Capital (‘CAC’) added a absolute of 34 aircraft on-lease in 2019. With this able bazaar performance, CAC’s third-party charter portfolio has now accomplished 641 aircraft.
Year-end, and ahead unannounced transactions, accommodate the accretion of two mid-life Dash 8-400 aircraft (MSNs 4300 and 4301) on charter to Croatia Airlines, and an added auction leaseback of two new ATR 72-600 aircraft (MSNs 1545 and 1552) with IndiGo. Additionally, CAC has connected its charter agreements with Aerolitoral, S.A. de C.V. (d.b.a. ‘Aeromexico Connect’), a accessory of Aerovías de México, S.A. de C.V. (d.b.a. ‘Aeromexico’), on three Embraer 190 aircraft ahead acquired in 2017.
“We are captivated with the aplomb that our barter accept apparent in us in 2019. Our able focus on beheading resulted in a cogent amplification of our portfolio and the accomplishment of several cogent milestones in the advance of our leasing company,” said Steve Ridolfi , President, Chorus Aerodynamics Capital. “In the three abbreviate years back the enactment of CAC, we accept developed the third-party leasing portfolio to 641 aircraft admired at about US$1.3 billion with US$960 actor in approaching arrangement charter revenue.”
“The year 2019 was one of abounding firsts for CAC. We anchored a US$300.0 actor barn facility, traded our aboriginal portfolio aircraft with the ahead appear auction of three Dash 8-400 Falcon aircraft, and connected our aboriginal leases with the face-lifting of the three Aeromexico Connect E190 aircraft. With this acknowledged aircraft re-lease outcome, we accept no added appointed charter expiries until 2021. Additionally, 2019 saw us bear our aboriginal Airbus A220-300 aircraft for charter to airBaltic,” connected Mr. Ridolfi.
“We are admiring with the absolute absolute drive and the accomplishment of these important milestones,” commented Joe Randell , President and Chief Executive Officer, Chorus. “Trading aircraft, accepting charter extensions, and biting new markets added demonstrates the capabilities of our crumbling aircraft leasing business. As we abide to bear on our advance strategy, our access charcoal to conservatively and profitably body our leasing business.”
About Chorus Aerodynamics Capital
Established in 2017, Chorus Aerodynamics Capital currently has relationships with 16 airlines based in 15 countries. CAC is focused on architecture a portfolio of new and mid-life bounded aircraft, while leveraging the synergies inherent amid its affiliated companies to accommodate a abounding apartment of bounded aerodynamics services.
Chorus is a all-around provider of chip bounded aerodynamics solutions. Chorus’ eyes is to bear bounded aerodynamics to the world. Headquartered in Halifax, Nova Scotia , Chorus comprise Chorus Aerodynamics Capital a leading, all-around freeholder of bounded aircraft, and Jazz Aerodynamics and Voyageur Aviation, companies that accept continued histories of safe operations with accomplished chump service. Chorus provides a abounding apartment of bounded aerodynamics abutment casework that encompasses every date of an aircraft’s lifecycle, including: aircraft accretion and leasing, aircraft refurbishment, engineering, modification, repurposing and preparation, arrangement flying, aircraft and basic maintenance, disassembly, and genitalia provisioning. Chorus Class A Variable Voting Shares and Class B Voting Shares barter on the Toronto Stock Exchange beneath the trading attribute ‘CHR’.www.chorusaviation.com
This account absolution may accommodate ‘forward-looking information’. Advanced advice is articular by the use of agreement and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “potential”, “pending”, “project”, “will”, “would”, and agnate agreement and phrases. Advanced advice involves accepted and alien risks, uncertainties and added factors that may account absolute results, accomplishment or achievements to alter materially from those adumbrated in the advanced information. Absolute after-effects may alter materially from after-effects adumbrated in advanced advice for a cardinal of reasons, including the abortion to abutting the affairs referenced in this account absolution on the agreement and altitude currently advised by Chorus, or at all, as able-bodied the accident factors articular in Chorus’ Annual Advice Form dated February 21, 2019 and in Chorus’ accessible acknowledgment almanac accessible at www.sedar.com. Statements absolute advanced advice in this account absolution represent Chorus’ expectations as of the date of this account absolution (or as of the date they are contrarily declared to be made) and are accountable to change afterwards such date. Chorus disclaims any ambition or obligation to amend or alter such statements to reflect new information, consecutive contest or otherwise, unless appropriate by applicative balance laws.
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