February 19, 2021 By The Canadian Press
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.