Chorus Aviation

Chorus Aviation is a Canadian holding company which owns regional airlines Jazz Aviation LP and Voyageur Airways as well as lessor Chorus Aviation Capital.

Chorus Aviation Inc.
Formerly
Jazz Air Income Fund
Public
Traded asTSXCHR
FoundedFebruary 2, 2006 (2006-02-02) as Jazz Air Income Fund
Headquarters,
Key people
Joseph D. Randell (CEO)
Subsidiaries
Websitechorusaviation.com
Canadair CL-600 (CRJ 100ER)

It was founded in 2006 as Jazz Air Income Fund, when then parent company ACE Aviation Holdings divested part of its interests in their regional airline business in an IPO.[1] In 2008, ACE Aviation Holdings sold its remaining participation in the company.[2] In 2011, it became a public corporation and changed its name to Chorus aviation, due to a change in Canadian tax laws which removed tax advantages for income funds, such changes prompting other income funds to restructure similarly.[3][4]

In February 2011, Chorus reported that revenues had improved and that it had invested in the Uruguayan airline Pluna.[5] After excessive losses, Pluna was shut down by the Uruguayan government on 5 July 2012, and Pluna's entire fleet was auctioned off on 1 October 2012.

Chorus aviation also acquired air charter company Voyageur Airways in 2015.[6] Voyageur Airways provides chartered aircraft to the United Nations in support of various programmes in Africa.

On January 4, 2017, Chorus Aviation launched Chorus Aviation Capital (CAC) with the objective of developing Chorus’ aircraft leasing activity into a global business with a diverse customer base and fleet of regional jet and turbo-prop aircraft in the 70 to 135-seat range. Chorus Aviation Capital builds diversified portfolios of regional aircraft manufactured by ATR, Bombardier and Embraer that will be leased to regional aircraft operators around the world.

On February 8, 2019, Chorus Aviation agreed to purchase nine CRJ900 regional jets from Bombardier in a deal valued at US$437 million. The aircraft will be operated by Chorus subsidiary, Jazz Aviation, with delivery expected in 2020.[7]

ReferencesEdit

  1. ^ "Jazz Air income fund IPO priced at $10". CBC. 2006-01-24. Retrieved 2020-05-15.
  2. ^ "ACE sells remaining stakes in Aeroplan, Jazz Air". Reuters. 2008-05-28. Retrieved 2020-05-15.
  3. ^ "Jazz Air plans to convert into holding corporation - thestar.com". The Star. Toronto. 2010-10-08. Retrieved 2010-10-12.
  4. ^ "CBC News - Nova Scotia - Jazz Air plans conversion to corporation". 2010-10-08. Archived from the original on 2010-10-11. Retrieved 2010-10-12.
  5. ^ "Chorus Aviation (formerly Jazz Air Income Fund) net jumps 35.8%". Retrieved 2011-03-27.
  6. ^ "Voyageur Airways to be sold for $80 million". North Bay Nugget. March 12, 2015. Archived from the original on September 5, 2017. Retrieved June 7, 2017.
  7. ^ "Chorus signs firm agreement for nine Bombardier CRJ900". hmgaerospace. February 8, 2019.

External linksEdit