Chorus to sell three Dash 8-400, closes Elisen buy

Executive Summary

• Chorus Aviation Inc. has entered into an agreement to sell three Dash 8-400 aircraft, expecting to realize net proceeds of approximately $20 million (U.S.).
• The company has officially closed the previously announced acquisition of Elisen & Associates Inc.
• The aircraft sales are expected to close by the end of the year as the aircraft exit the fleet in accordance with capacity purchase agreements with Jazz Aviation LP and Air Canada.

Key Details

• Asset Sale: Agreement to sell three Dash 8-400 aircraft.
• Financial Impact: Expected net proceeds of approximately $20 million (U.S.).
• Closing Timeline: Sales expected to close by the end of the year, contingent on customary conditions and the exit of aircraft from the fleet under capacity purchase agreements with Jazz Aviation LP and Air Canada.
• M&A Completion: Closing of the acquisition of Elisen & Associates Inc. is confirmed.
• Company Profile: Chorus Aviation is a holding company owning Jazz Aviation (largest regional operator in Canada/Air Canada Express), Voyageur Aviation (charter and support services), Cygnet Aviation Academy (pilot training), and Elisen & Associates (aerospace engineering and certification).

Notable Quotes

• No direct quotes from management were included in the provided text.