HALIFAX,
NS, Oct. 24, 2024 /CNW/ - Chorus Aviation
Inc. (TSX: CHR) ("Chorus") today announced that all
regulatory conditions to completion of the previously announced
sale of its Regional Aircraft Leasing segment (the
"Transaction") have been satisfied.
"The fulfilment of all regulatory conditions for the sale of
Chorus' Regional Aircraft Leasing segment is a key milestone
towards the completion of this transaction. We thank everyone
involved for the continued collaboration, as we move towards a
successful completion," said Colin
Copp, President and Chief Executive Officer, Chorus. "This
transaction will serve as a catalyst to accelerate value creation
for our shareholders, while providing us with the financial
flexibility for future growth."
The remaining conditions to completion of the Transaction are
set out in the Sale and Purchase Agreement dated July 30, 2024, which is available under Chorus'
profile on SEDAR+ at www.sedarplus.ca. Completion of the
Transaction is expected by the end of 2024.
Forward-Looking Information
This news release contains forward-looking information and
statements within the meaning of applicable securities laws
(collectively, "forward-looking information").
Forward-looking information involves significant risks and
uncertainties that could cause actual results to differ materially
from those anticipated, including, but not limited to, the risk
that one or more of the remaining conditions to completion of the
Transaction may not be satisfied or that the completion of the
Transaction might be delayed or not occur at all. Actual results
could differ materially from those described in forward-looking
information due to known or unknown risks, including, but not
limited to, the risk factors described in Chorus' public disclosure
record available under Chorus' profile on SEDAR+ at
www.sedarplus.ca.
The forward-looking information contained in this news release
represents Chorus' expectations as of the date of this news release
(or as of the date they are otherwise stated to be made) and is
subject to change after such date. Chorus disclaims any intention
or obligation to update or revise any forward-looking information
as a result of new information, subsequent events or otherwise,
except as required by applicable securities laws. Readers are
cautioned that the foregoing factors and risks are not
exhaustive.
About Chorus Aviation Inc.
Chorus is a global aviation solutions provider and asset
manager, focused on regional aviation. Our current principal
subsidiaries are: Falko Regional Aircraft, the leading pure play
regional aircraft asset manager and lessor, managing investments on
behalf of third-party fund investors; Jazz Aviation, the largest
regional operator in Canada and
provider of regional air services under the Air Canada Express
brand; Voyageur Aviation, a leading provider of specialty charter,
aircraft modifications, parts provisioning and in-service support
services; and Cygnet Aviation Academy, an industry leading
accredited training academy preparing pilots for direct entry into
airlines. Together, Chorus' subsidiaries provide services that
encompass every stage of a regional aircraft's lifecycle,
including: aircraft acquisition and leasing; aircraft
refurbishment, engineering, modification, repurposing and
transition; contract flying; aircraft and component maintenance,
disassembly, and parts provisioning; and pilot training.
Chorus Class A Variable Voting Shares and Class B Voting Shares
trade on the Toronto Stock Exchange under the trading symbol 'CHR'.
Chorus 5.75% Senior Unsecured Debentures due December 31, 2024, 6.00% Convertible Senior
Unsecured Debentures due June 30,
2026, and 5.75% Senior Unsecured Debentures due June 30, 2027 trade on the Toronto Stock Exchange
under the trading symbols 'CHR.DB.A', 'CHR.DB.B', and 'CHR.DB.C'
respectively. For further information on Chorus, please visit
www.chorusaviation.com.
SOURCE Chorus Aviation Inc.
