News
Chorus adds six regional aircraft
Chorus Aviation Inc., through Chorus Aviation Capital, reached an agreement to acquire a portfolio of six aircraft with leases attached. The portfolio consists of two ATR72-600s on lease to Azul of Brazil, and four Q400s on lease to two other existing customers of Chorus Aviation.
February 25, 2019 By Wings Staff
With these acquisitions, Chorus’ portfolio of leased regional aircraft (inclusive of nine transactions pending completion) has reached 40 aircraft, comprising 28 turboprops and 12 regional jets valued at approximately US$850 million.
“With the establishment of our new US$300 million credit facility and the capital we have on hand, I’m confident the momentum achieved in our growth strategy will continue to build,” said Steven Ridolfi, president, Chorus Aviation Capital.
The acquisitions of the aircraft on lease to Azul have been completed. The acquisitions of the aircraft on lease to the two other lessees remain to be completed subject to satisfaction of customary conditions precedent to closing.
Established in 2017, Chorus Aviation Capital currently has relationships with 12 regional airlines based in 12 countries. The company is focused on building a portfolio of new and mid-life regional aircraft.
Headquartered in Halifax, Nova Scotia, Chorus Aviation was incorporated in September 2010 and has been leasing its owned regional aircraft into Jazz’s Air Canada Express operation since 2011. Chorus owns Jazz Aviation LP and Voyageur Aviation Corp. Chorus Aviation Capital was established in 2017 to become a global provider of regional aircraft leases.
