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Chorus acquisition proposal talks end without deal, potential investment talks remain

February 19, 2021  By The Canadian Press

Chorus Aviation owns regional airlines Jazz Aviation LP and Voyageur Airways, as well as lessor Chorus Aviation Capital. (Photo: Jazz Aviation)

HALIFAX — Chorus Aviation Inc. says an acquisition proposal from an unnamed bidder that it received last fall is no longer being considered, but that it remains in talks regarding a potential investment.

The aviation company said in October that it had received a preliminary, non-binding acquisition proposal that was subject to a number of significant conditions.

The comments came as Chorus reported a fourth-quarter profit of $9.2 million, down from $36.6 million a year earlier, as travel restrictions due to the pandemic hurt demand.

The profit amounted to six cents per diluted share for the quarter, down from 23 cents per diluted share a year earlier.


Operating revenue totalled $218.2 million, down from $338.6 million.

On an adjusted basis, Chorus says it earned five cents per share for the quarter, down from 15 cents per share a year earlier.

News from © Canadian Press Enterprises Inc., 2021



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