Month: February 2019

Air Canada ending flights from Winnipeg to Saskatoon, Thunder Bay

News provided by Saskatoon StarPhoenix – with a hint from K.W. – Thanks

The airline says the routes were not operating at a level where it made sense to continue flying them, and flights will end March 31.

SASKATOON STARPHOENIX Updated: February 25, 2019

Air Canada is ending flights from Saskatoon to Winnipeg and Thunder Bay on March 31. PETER J THOMPSON/NATIONAL POST

Canada’s largest airline says commercial reasons are behind the decision to end flights between Saskatoon and Winnipeg and Winnipeg and Thunder Bay.

Air Canada confirmed on Monday that it will cease flying the routes on March 31, calling it a “difficult decision.”

“The routes from Winnipeg to Saskatoon and to Thunder Bay regrettably did not perform at a level that would make commercial sense for us to continue operating,” Air Canada spokeswoman Angela Mah said in a statement.

“The factors we look at include demand between the two cities, aircraft availability and overall profitability,” Mah added.

She said anyone booked on one of the affected flights after March 31 will be contacted, either by the airline or their travel agent, to make alternate travel arrangements or obtain a refund.

The Saskatoon Airport Authority, which operates the John G. Diefenbaker International Airport, has said 2018 was its busiest year on record with 1,518,980 passengers, up 3.8 per cent from 2017.

As of last month, the airport had 25 direct routes allowing passengers to reach 245 destinations, the most popular of which are Calgary, Toronto and Edmonton.

WestJet Airlines Ltd., the other major airline that flies out of Saskatoon, offers non-stop flights to Winnipeg from Saskatoon, as well as connecting flights to Thunder Bay.

Bombardier to expand Singapore bizjet support centre

News provided by FlightGlobal.com

26 February 2019 – Flight Global – by Ellis Taylor, Perth

Bombardier will quadruple the size of its Singapore Service Centre to handle growing aftermarket demand from business jet operators in Asia.

The expanded facility at Seletar Aerospace Park will open in 2020, and will be able to handle over 2,000 visits annually. It will also introduce new customer facilities, a 3,500m2 aircraft painting facility, expanded component repair and overhaul services, heavy structural and composite repair, and a 929m2 integrated parts depot.

“Customers will enjoy access to the complete range of OEM customer service and support right on their doorstep, 24/7, 365 days a year,” says Jean-Christophe Gallagher, Bombardier’s vice-president and general manager customer experience.

“This expansion is another key building block in our drive to enhance the accessibility of our OEM expertise for customers worldwide and to solidify our position as a leader in aftermarket services in the Asia-Pacific region, a pivotal growing part of our global network.”

Since it opened in 2014, the existing service centre has grown to employ over 150 staff and has a range of authorisations to service Bombardier’s Global, Challenger, and Learjet aircraft.

WestJet celebrates summer with new route between London, ON and Montreal

Provided by WESTJET, an Aliberta Partnership/CNW

CALGARY, Feb. 26, 2019 /CNW/ – WestJet today announced it is adding more choice for travellers in London and Montreal this summer with a new daily service starting June 24 through October 15 on WestJet Encore.

WestJet celebrates summer with new route between London, ON and Montreal (CNW Group/WESTJET, an Alberta Partnership)
WestJet celebrates summer with new route between London, ON and Montreal (CNW Group/WESTJET, an Alberta Partnership)
WestJet celebrates summer with new route between London, ON and Montreal (CNW Group/WESTJET, an Alberta Partnership)
WestJet celebrates summer with new route between London, ON and Montreal (CNW Group/WESTJET, an Alberta Partnership)

“We continue to see robust use of our service between Montreal and Toronto and are aware that many of these guests travel to and from London,” said Brian Znotins, WestJet Vice-President Network Planning and Alliances. “We are certain WestJet guests from Montreal and London will enjoy more convenient access to these popular leisure and business markets during the busy summer travel season.”

“We are very pleased to be able to offer passengers the option to fly to Montreal with WestJet,” said Michael Seabrook, London International Airport President and CEO. “Montreal is one of our biggest markets, and with the addition of this non-stop flight our passengers have options. It allows us to provide an easy and comfortable travel experience to even more travellers.”

WestJet is the largest airline in London, and this summer will operate six flights per day from London, ON to three Canadian cities including Calgary, Toronto and Montreal. The airline will also operate 23 flights per day from Montreal including two times daily to Vancouver, three times daily to Calgary, daily to Edmonton and Winnipeg, 13 times daily to Toronto, twice daily to Halifax and daily to London, ON.

Details of WestJet’s service between London and Montreal:

RouteFrequencyDepartingArrivingEffective
London –  MontrealDaily10:20 a.m.11:45 a.m.June 24, 2019
Montreal – LondonDaily12:15 p.m.1:49 p.m.June 24, 2019

For more information on new routes and increased frequencies in 2019 summer schedule, please visit westjet.com/flight-schedules-new.

This summer, WestJet will operate more than 750 daily flights in peak summer to 92 destinations including 42 in Canada, 23 in the United States, 27 in Mexico, the Caribbean and Central America, and five in Europe.

Canada Jetlines Partners with Elavon to Provide Secure Payment Processing

Provided by Canada Jetlines/Globe Newswire

VANCOUVER, British Columbia, Feb. 26, 2019 (GLOBE NEWSWIRE) — Canada Jetlines Ltd. (JET: TSX-V) (JETMF: OTCQB) (the “Company” or “Jetlines”) is pleased to announce that it has signed an agreement with Elavon, Inc., a wholly owned subsidiary of U.S. Bancorp (NYSE: USB), as its payment processing partner of choice.

Elavon provides end-to-end payment processing solutions and services to more than 1.3 million customers in the United States, Europe, Canada, Mexico, and Puerto Rico, and is a leading payments provider to airlines around the world.

Elavon will provide Jetlines’ customers with a secure and easy-to-use payment processing platform. Its omnichannel payment solutions will allow Jetlines’ future passengers to pay however they want whether its in-person, online, on the phone, or on their mobile device. Elavon also offers top-tier security controls to protect Jetlines and its future passengers’ data and privacy. Elavon’s platform will prevent fraud through its advanced and proprietary risk management tools, fraud detection solutions, and managed chargeback services.

Jetlines Chief Financial Officer, Carlo Valente, commented, “Elavon and U.S. Bank have a track record of delivering reliable, innovative, and secure payment solutions. Elavon is consistently rated among the top global payment providers and offers secure payments solutions that comply with industry standards. With data breaches becoming more and more common today, security of customer payments is crucial while also reducing the cost of payment card industry (PCI) data compliance. Elavon meets these needs with its award-winning, international processing platform and global payment solutions.”

“We are honored Jetlines named us their payments processing partner of choice,” said Brett Turner, head of airline acquiring, Elavon. “We’ve been processing payments for the airline industry since 1989, serving global and regional carriers of all sizes. Adding Jetlines to our portfolio of airline customers deepens our commitment to the Canadian market.”

About Elavon, Inc.

Elavon, a wholly owned subsidiary of U.S. Bancorp (NYSE: USB), provides end-to-end payment processing solutions and services to more than 1.3 million customers in the United States, Europe, Canada, Mexico, and Puerto Rico. As the leading provider for airlines and a top five provider in hospitality, healthcare, retail, and public sector/education, Elavon’s innovative payment solutions are designed to solve pain points for businesses from small to enterprise-sized.

About Canada Jetlines Ltd.

Canada Jetlines is set to become Canada’s first true Ultra-Low-Cost Carrier (ULCC) airline, with plans to operate flights across Canada and provide non-stop service from Canada to the United States, Mexico and the Caribbean. The Company plans to commence operations with the Airbus A320 fleet, the most widely used aircraft for ultra-low-cost carriers worldwide. Jetlines is led by a board and management team with extensive experience and expertise in low-cost airlines, start-ups and capital markets. The Company was granted an unprecedented exemption from the Government of Canada that will permit it to conduct domestic air services while having up to 49% foreign voting interests.

For more information on Jetlines, please visit our website at www.jetlines.ca.

Sunwing returns to Quebec City for 12th consecutive summer season with more destinations than ever

Provided by Sunwing/Globe Newswire

TORONTO, Feb. 25, 2019 (GLOBE NEWSWIRE) — Good news for Quebec City residents looking to get a head start on planning their summer vacation, as Sunwing has announced that they will be operating seasonal summer flights from Quebec City once more. In addition to returning destination favourites including CancunVaraderoCayo Coco and Puerto Plata, travellers from the Quebec City region can also choose to Vacation Better on the white-sand shores of Punta Cana with Sunwing’s new weekly flight service on Tuesdays from April 30, 2019 to October 29, 2019 inclusive.

Sam Char, Executive Director for Sunwing Travel Group in Quebec, commented on the news, “We are excited to be returning to Quebec City’s Jean Lesage International Airport for the 12th summer in a row. As the first leisure carrier to offer summer flights from Quebec City in 2006, we are constantly striving to offer Quebecers even more ways to explore the sunny south and we believe the addition of Punta Cana to our extensive summer flight roster will be well-received.”

“The increase in Sunwing’s summer offerings from YQB is wonderful news for our 1.75 million passengers, as well as for all travellers residing in the Great Quebec City Area. The tour operator has renewed and improved its offer in anticipation for the 2019 season, confirming its commitment to better serving Quebec City residents, who are increasingly choosing to travel to sun destinations in the summer.” says Bernard Thiboutot, Vice-President of Development and Marketing for YQB.

Travellers who choose to vacation in the newly-offered destination of Punta Cana can stay at one of the area’s newest resorts. Set to open in the summer of 2019, Lopesan Costa Bavaro Resort Spa and Casino is nestled on the white-sand shores of Bavaro Beach with amenities and activities for guests of all ages. Families will appreciate the wide-range of kid-friendly amenities including the Panchi World Kids Club, plus a range of accommodation options. Those seeking an adults only getaway may choose to stay at Lopesan Bavaro Beach Adults Only, also opening in the summer of 2019, an exclusive section with a private pool area featuring lavish Bali beds and unlimited access to the wider resort facilities.

Other popular resort choices that families can  book from Quebec City include Royalton Riviera Cancun Resort and Spa in Cancun which benefits from its own on-site splash park and Grand Memories Varadero in sunny Cuba with the Memories Kids Club featuring appearances from popular characters Toopy and Binoo™.

All Sunwing vacation packages include return flights on Sunwing Airlines where passengers can sit back and relax while on board, with award-winning inflight service, complimentary non-alcoholic beverage service and buy on board selection of snacks and light meals including the brand new Tex Mex Grilled Chicken Wrap inspired by Food Network Canada Celebrity Chef, Lynn Crawford. Passengers also benefit from a generous complimentary 23kg checked luggage allowance.

For more information or to book, visit www.sunwing.ca or contact your travel agent.

Minister Garneau celebrates important Canadian aviation milestones on National Aviation Day

Provided by Transport Canada/CNW

OTTAWA, Feb. 22, 2019 /CNW/ – The Honourable Marc Garneau, Minister of Transport, issued today this statement regarding National Aviation Day:

“On February 23, 1909, Pilot J.A.D. McCurdy flew the Silver Dart from Baddeck, Nova Scotia, launching Canada as a worldwide leader in aviation. This moment is something we celebrate each year on National Aviation Day.

“Those first flights prompted the Government of Canada to begin building a future of safe and secure civil aviation operations in Canada. For 100 years, every aircraft, airport, ground and air crewmember has been required to meet the regulations of the Aeronautics Act.

“Today, I want to recognize all the public service employees who have worked to build, amend and enforce the Aeronautics Act and aviation regulations. We owe the safety of our skies to their collective dedication and professionalism over the past century. 

“Canada’s aerospace industry generates $29.8 billion in annual revenues; represents 211,000 direct and indirect jobs in Canada; 140,000 jobs in the airlines, airports and related services industry and 5% of all jobs in the North.

“I want to recognize the many people, including airline and airport employees, flight crews, engineers, air traffic controllers and maintenance workers, who help maintain the safety and security of aviation for all Canadians and keep Canada’s aviation system one of the safest in the world. 

“It is possible to live your dream of flying or helping others fly. The sky is the limit for the future of this industry and I encourage everyone—especially youth, Indigenous Peoples and women to pursue careers in Canadian aviation and aerospace.”

Transport Canada is online at www.tc.gc.ca. Subscribe to e-news or stay connected through TwitterFacebookYouTubeand Flickr to keep up to date on the latest from Transport Canada.

This statement may be made available in alternative formats for persons living with visual disabilities.

SOURCE Transport Canada

Missouri-based airline Air Choice One signs a multi-year agreement with InteliSys Aviation for use of the ameliaRES passenger reservation system.

Provided by InteliSys Aviation

Air Choice One Plane

Saint John, NB  20 February 2019 – InteliSys Aviation Systems is thrilled to officially announce its partnership with Air Choice One, a fast-growing airline which has signed a multi-year contract for use of InteliSys’ ameliaRES Passenger Reservation System. Air Choice One went live on the software platform as of February 19, 2019 joining a global network of airlines on the system.

Based out of St. Louis, Missouri, Air Choice One is a regional airline that is devoted to delivering first-class comfort, quality, and convenience to its passengers. Its fleet of dependable aircraft operate on a system of community-specific flight scheduling, which includes providing regular service to hard-to-reach areas. The airline is run by a team of operations and maintenance professionals with greater than 60 years of combined industry experience.

Air Choice One selected InteliSys as a solution provider to help enable their growth via the amelia open system platform and their best-of-breed approach to the industry. The ameliaRES system provides flexibility to quickly and reliably integrate with many world-class aviation partners, as well as the customization to execute on their unique business goals.

Air Choice One President & CEO Shane Storz

“After much research on other airline reservation systems, Air Choice One chose to partner with InteliSys because of its technical capabilities and its customer service. Over the last three years, they have enhanced their features within their system that will assist us as our company grows. We look forward to having a long and successful business relationship with them,” said Shane Storz, President & CEO of Air Choice One.

To learn more about the achievements and objectives of Air Choice One, visit the airline’s website: www.airchoiceone.com.

InteliSys Aviation CEO Frank Kays

“Our team is very excited to be working with Air Choice One. When it comes to corporate values, our two companies are incredibly aligned. We love their attitude of treating every customer as an individual; it is the very same approach that we take to our business,” said Frank Kays, InteliSys Aviation CEO. “We are thrilled to be partnering with a quickly growing airline that demonstrates a strong passion for servicing their customers. With the focus and passion that the Air Choice One team has on delivering superb and personalized customer experiences, we know that they are going to do really great things. We are proud to be working with them and supporting their continued growth.”

InteliSys Aviation specializes in software solutions for airlines around the globe: their ameliaRES and ameliaCARGO systems are utilized worldwide with more than 40 airline clients spread across 6 continents. Since 1987, InteliSys has focused on providing cutting-edge IT solutions to airlines of all sizes and business models.

Chorus Aviation announces fourth quarter and year-end earnings

Provided by Chorus Aviation Inc/CNW

Delivering regional aviation to the world  

Selected Q4 2018 information:

  • Net income of $2.0 million, or $0.01 per basic share, inclusive of an unrealized foreign exchange loss of $32.9 million.
  • Adjusted net income1 of $35.1 million, or $0.25 per basic share, in increase of $11.5 million.
  • Adjusted EBITDA1 of $92.6 million, an increase of $9.7 million or 11.7% primarily due to increased earnings from the regional aircraft leasing segment.
  • Signed agreements to place seven aircraft with three lessees.
  • Completed the eighth Extended Service Program (‘ESP’) on a Dash 8-300 aircraft.

Selected annual 2018 information:

  • Net income of $67.0 million, or $0.49 per basic share, inclusive of an unrealized foreign exchange loss of $49.5 million.
  • Adjusted net income1 of $121.8 million, or $0.89 per basic share, an increase of $6.4 million.
  • Adjusted EBITDA1 of $342.7 million, an increase of $55.8 million or 19.4% primarily due to increased earnings from the regional aircraft leasing segment.
  • Diversified and grew leased fleet to 40 regional aircraft valued at approximately $1.1 billion1, inclusive of nine transactions pending completion. All pending transactions are subject to customary conditions precedent to closing.

2019 Year-to-Date Accomplishments:

  • Amended and extended the capacity purchase agreement (‘CPA’) with Air Canada, securing Jazz’s position in Air Canada’s regional network for the next 17 years.
  • Completed a $97.26 million equity investment by Air Canada to fund new, larger gauge aircraft at Jazz and further growth in regional aircraft leasing.
  • Entered into a firm purchase agreement with Bombardier for nine CRJ900s as part of Jazz’s fleet modernization plan.
  • Achieved an unprecedented 17-year collective agreement with Jazz pilots and enhanced the pilot mobility program to access pilot careers at Air Canada.
  • Secured US $300 million credit facility to support growth of regional aircraft leasing business.
  • Reached an agreement to acquire a portfolio of six aircraft with leases attached: two ATR72-600s on lease to Azul of Brazil, and four Q400s on lease with two other existing customers.
  • Jazz named one of Canada’s Top Employers for Young People for the seventh year and one of Atlantic Canada’s Top Employers for the eighth consecutive year.

1 Includes aircraft for which an agreement to lease has been signed but the aircraft have yet to be delivered.

HALIFAX, Feb. 22, 2019 /CNW/ – Chorus Aviation Inc. (‘Chorus’) (TSX: CHR) today announced fourth quarter and year-end financial results for fiscal year ended December 31, 2018.  

“I’m very pleased with our start to 2019 as we build upon the positive momentum of 2018. Our growth and diversification strategy took further hold in 2018 generating $342.7 million in adjusted EBITDA and adjusted net earnings per basic share of $0.25, increases over 2017 of 11.7%. and 19.4% respectively.

Our group of companies performed well and reached important milestones that strengthened our company. These successes helped advance our vision to transform into a worldwide provider of regional aviation services. To date, we’ve grown our fleet to 40 aircraft, inclusive of nine transactions pending completion, valued at approximately $1.1 billion. The pipeline of opportunities for additional transactions is strong. With the establishment of our new US $300 million credit facility and the capital we have on hand, we’re maturing and building scale as a worldwide lessor.

Our strategic partnership with Air Canada and the value we’ve created through the amended and extended CPA will benefit our shareholders, employees and other stakeholders for the long term. We are well positioned to take advantage of new opportunities for growth and to effectively compete in an ever-changing industry. I extend my sincere thanks and gratitude to the Chorus team for these significant accomplishments,” said Joe Randell, President and Chief Executive Officer, Chorus. 

FOURTH QUARTER 2018 SUMMARY

Financial Performance – fourth quarter 2018 compared to fourth quarter 2017

In the fourth quarter of 2018, Chorus reported adjusted EBITDA of $92.6 million versus $82.9 million in 2017, an increase of $9.7 million or 11.7% due primarily to:

  • a $10.4 million increase due to growth in the regional aircraft leasing segment; offset by:
  • a net decrease in the regional aviation services segment of $0.7 million resulting from declines in incentive and other revenue and an increase in certain operating costs; offset by increased aircraft leasing under the CPA of $2.4 million.

Adjusted net income was $35.1 million for the period, an increase from 2017 of $11.5 million, or 48.6% due to:

  • the $9.7 million increase in adjusted EBITDA previously described;
  • lower foreign exchange losses on working capital which amounted to $4.7 million; and
  • a decrease of $0.4 million in depreciation; offset by:
  • an increase in interest costs of $1.2 million related to additional aircraft debt; and
  • an increase in income tax expense of $2.1 million.

Net income was $2.0 million for the period, a decrease of $18.0 million or 89.9% from the same period of 2017. The decrease was primarily due to a quarter-over-quarter change in unrealized foreign exchange losses on long-term debt of $30.5 million; offset by the previously noted $11.5 million increase in the adjusted net income and decreased employee separation program costs of $1.0 million.

YEAR-END 2018 SUMMARY

Financial Performance – Year end 2018 compared to year end 2017

For the year ended December 31, 2018, Chorus reported adjusted EBITDA of $342.7 million versus $286.9 million in 2017, an increase of $55.8 million or 19.4% due to:

  • a $47.3 million increase in the regional aircraft leasing segment; and
  • increased earnings in the regional aviation services segment of $8.5 million due primarily to increased aircraft leasing income under the CPA.

Adjusted net income was $121.8 million for the year, an increase from 2017 of $6.4 million, or 5.5% due to:

  • the $55.8 million increase in adjusted EBITDA previously described;
  • lower foreign exchange losses on working capital which amounted to $1.6 million; offset by:
  • increased income taxes of $20.5 million. In 2017 adjusted net income was impacted by changes in tax rates which were recorded in the third quarter of 2017. This change had the impact of lowering income taxes, and therefore increased adjusted net income for the twelve months ended December 31, 2017;
  • an additional $17.4 million in depreciation primarily related to new aircraft;
  • an increase in interest costs of $12.8 million related to additional aircraft debt and convertible units; and
  • an increase in other expenses of $0.3 million.

Net income was $67.0 million for the year, a decrease of $100.3 million from the same period of 2017. The decrease was primarily due to a year-over-year change in unrealized foreign exchange losses on long-term debt of $110.4 million and foreign exchange gain on cash held for deposit of $1.6 million; offset by decreased employee separation program costs of $5.3 million and the previously noted $6.4 million increase in the adjusted net income.

2019 OUTLOOK

On February 4, 2019, the amendments to the CPA first announced on January 14, 2019 (the ‘2019 CPA Amendments’) became effective on a retroactive basis to January 1, 2019.

The 2019 CPA Amendments result in a near-term reduction in fixed fees starting in 2019, as Chorus accelerates its transition to market-based rates. The reduction was implemented by eliminating the Infrastructure Fee per Covered Aircraft and the Fixed Margin per Covered Aircraft (each as defined in the CPA) and replacing them with a single ‘Fixed Margin’. As a result, Fixed Fee revenue in each of 2019 and 2020 is anticipated to be $75.5 million per year as compared to $111.3 million in 2018. In addition, the maximum future available performance incentives reduce from $23.4 million in 2019 and 2020, to an annual average maximum available amount of $3.4 million for the full term of the CPA. The near-term reductions are more than offset over the term of the CPA by incremental contracted revenue secured with the extension of the agreement including fixed fees and aircraft leasing.

In 2017, Chorus launched Chorus Aviation Capital, with the support of a $200.0 million investment in the Corporation from Fairfax. In 2018, Chorus raised further gross proceeds of $112.0 million, primarily for investment in its leasing business, through a public offering of Shares*. On February 4, 2019, the Air Canada investment was completed, providing further gross proceeds of $97.26 million, approximately 40% of which is to be invested in the leasing business carried on by Chorus Aviation Capital.

Since the start of 2017 Chorus has raised net proceeds of CAD $401.0 million in capital from both the issuance of convertible debt units and share capital, which if levered at 3:1, provides approximately $1.6 billion of investment capital. As at February 21, 2019, approximately three quarters of this capital has been committed including deposits on future commitments. Chorus anticipates committing the remaining balance by early 2020 in new to mid-life aircraft with long-term leases to a diverse group of high-quality customers around the world.

Capital expenditures for 2019, excluding those for the acquisition of aircraft and the ESP, and including capitalized major maintenance overhauls, are expected to be between $36.0 million and $42.0 million. Aircraft related acquisitions and the extended service program capital expenditures in 2019 are expected to be between $299.0 million and $302.0 million.

‘Shares’ refers to Chorus’ Class A Variable Voting Shares and Class B Voting Shares

Investor Conference Call / Audio Webcast

Chorus will hold an analyst call at 09:30 a.m. ET on Friday, February 22, 2019 to discuss the fourth quarter and year-end financial results. The call may be accessed by dialing 1-888-231-8191. The call will be simultaneously audio webcast via:
https://event.on24.com/wcc/r/1923003/1C1675BF55CDC811D8CD46BF1E407F1B

This is a listen-in only audio webcast. Media Player or Real Player is required to listen to the broadcast; please download well in advance of the call.

The conference call webcast will be archived on Chorus’ website at www.chorusaviation.ca under Reports > Executive Management Presentations. A playback of the call can also be accessed until midnight ET, February 28, 2019 by dialing toll-free 1-855-859-2056, and passcode 1093749#.

1NON-GAAP FINANCIAL MEASURES

This news release references several non-GAAP financial measures to supplement the analysis of Chorus’ results. These measures are provided to enhance the reader’s understanding of our current financial performance. They are included to provide investors and management with an alternative method for assessing our operating results in a manner that is focused on the performance of our ongoing operations and to provide a consistent basis for comparison between periods. These non-GAAP measures are not recognized measures under GAAP, and therefore they are unlikely to be comparable to similar measures presented by other companies. A reconciliation of these non-GAAP measures to their nearest GAAP measure is provided in the Management’s Discussion and Analysis (‘MD&A’) dated February 21, 2019.

Adjusted net income and Adjusted net income per Share are used by Chorus to assess performance without the effects of unrealized foreign exchange gains or losses on long-term debt and finance leases related to aircraft, foreign exchange gains or losses on cash held on deposit for investment in the regional aircraft leasing business, signing bonuses, employee separation program costs and strategic advisory fees. Chorus manages its exposure to currency risk on such long-term debt by billing the lease payments within the CPA in the underlying currency (US dollars) related to the aircraft debt. These items are excluded because they affect the comparability of our financial results, period-over-period, and could potentially distort the analysis of trends in business performance. Excluding these items does not imply they are non-recurring due to ongoing currency fluctuations between the Canadian and US dollar.

EBT is defined as earnings before income tax. Adjusted EBT (EBT before signing bonuses, employee separation program costs, strategic advisory fees and other items such as foreign exchange gains and losses) is non-GAAP financial measure used by Chorus as a supplemental financial measure of operational performance. Management believes Adjusted EBT assists investors in comparing Chorus’ performance by excluding items, which it does not believe will occur over the longer-term (such as signing bonuses, employee separation program costs and strategic advisory fees) as well, which items that are non-cash in nature such as foreign exchange gains and losses.

EBITDA is defined as earnings before net interest expense, income taxes, and depreciation and amortization and is a non-GAAP financial measure that is used frequently by companies in the aviation industry as a measure of performance. Adjusted EBITDA (EBITDA before signing bonuses, employee separation program costs, strategic advisory fees and other items such as foreign exchange gains or losses) is a non-GAAP financial measure used by Chorus as a supplemental financial measure of operational performance. Management believes Adjusted EBITDA assists investors in comparing Chorus’ performance by excluding items, which it does not believe will occur over the longer-term (such as signing bonuses, employee separation program costs and strategic advisory fees) as well, which items that are non-cash in nature such as foreign exchange gains and losses.

Adjusted EBITDA should not be used as an exclusive measure of cash flow because it does not account for the impact of working capital growth, capital expenditures, debt repayments and other sources and uses of cash, which are disclosed in the statements of cash flows, forming part of Chorus’ financial statements.

Consolidated Financial Analysis

Three months ended December 31, Year ended December 31,
(In thousands of Canadian dollars)20182017ChangeChange20182017ChangeChange
$$$%$$$%
Operating Revenue358,663356,0332,6300.71,451,1941,352,20098,9947.3
Operating Expenses297,402305,872(8,470)(2.8)1,234,5531,179,15455,3994.7
Operating Income61,26150,16111,10022.1216,641173,04643,59525.2
Net interest expense(14,447)(13,341)(1,106)(8.3)(56,285)(43,511)(12,774)(29.4)
Other(1)(33,784)(7,899)(25,885)(327.7)(56,194)54,448(110,642)(203.2)
Earnings before Income tax13,03028,921(15,891)(54.9)104,162183,983(79,821)(43.4)
Income tax expense(11,011)(8,918)(2,093)(23.5)(37,174)(16,660)(20,514)(123.1)
Net Income2,01920,003(17,984)(89.9)66,988167,323(100,335)(60.0)
Adjusted EBITDA(2)92,60882,9159,69311.7342,692286,91255,78019.4
Adjusted EBT(2)46,11632,53613,58041.7159,008132,09126,91720.4
Adjusted Net Income(2)35,10523,61811,48748.6121,834115,4316,4035.5

(1) Other includes foreign exchange loss/gain and gain on disposal of property and equipment.
(2) This is a non-GAAP financial measures – refer to Section 18 of the MD&A for disclosures on Non-GAAP financial measures.

N.W.T. gov’t never asked for more security lines at Yellowknife airport: CATSA

News provided by CBC News – with a hint from P.N. – Thanks

MLA questioned minister about why, after renovations, security lines are so long at the airport

Hilary Bird · CBC News · Posted: Feb 20, 2019 8:27 PM CT


The lineup at Yellowknife airport security check on Dec. 29, 2017. (Priscilla Hwang/CBC)

The federal authority in charge of security screening at Yellowknife’s airport says it’s up to the Northwest Territories government to ask for additional security lines to cut down on wait times.

The Canadian Air Transport Security Authority (CATSA) told CBC that Yellowknife’s airport has had only one line for security screening since 2013. It said that if the territorial government wants additional screening lines, it would have to further expand the screening area and present a “business case” for more resources or employees. That business case would then be reviewed by CATSA.

In an email to CBC Thursday, CATSA said that hasn’t happened.

On Wednesday, Infrastructure Minister Wally Schumann was questioned in the Legislative Assembly about security wait times at the airport. He responded that it is out of the government’s control because screening is CATSA’s responsibility.


Infrastructure Minister Wally Schumann said long wait times are in part a result of more planes landing and more tourists visiting. (Alex Brockman/CBC)

For months, residents and tourists in the territory’s capital city have complained in public social media groups about what some call “ridiculous” wait times.

In 2016, the territorial government introduced a new airport improvement fee and tripled the fees paid by airlines that use the airport. The government said the $10 million in fees generated each year will be used to make the airport more attractive to travellers.

“Now after millions of dollars collected in user fees and hundreds of thousands of dollars spent on renovations to the security screening area, the key complaint of constituents is that security line wait times are unreasonably long,” MLA for Yellowknife North, Cory Vanthuyne said in the legislature.

“Why? Because there’s still only one security line at the airport.”

Security run by Crown corporation

Schumann said the renovated security area now holds the new CATSA Plus program. According to CATSA’s website, a highlight of the new program is the “parallel divest systems,” which allow more than one passenger to put carry-on belongings in a bin at a time. The CATSA Plus system also provides a larger space at the end of the screening area for passengers to repack their belongings.  

But adding an additional security line was never part of the renovation plan, CATSA says.


The arrivals departure board for Yellowknife Airport on December 29, 2017. (Priscilla Hwang/CBC)

Schumann told MLAs Wednesday that after the renovation, wait times at security are down by 30 per cent. He said wait times are still long, in part, because more planes are landing and more tourists visiting.

“You know we’re the victim of our own success again. Landings are up 15 per cent. Traffic by passengers is up by four per cent. We put in these new systems trying to accommodate everyone as best we can,” Schumann said.

“We’re so used to being able to go to the airport and jump on a plane 10 minutes before it goes, but the reality is, at the Yellowknife airport, you’ve got to start looking to go out there 90 minutes to 60 minutes prior to departing.”  

Schumann also said the territorial government has used money from the airport improvement fund to create new signs in different languages, including Japanese, to help tourists find their way at the airport.

WestJet loses appeal of B.C. court decision on harassment lawsuit

News provided by Tri City News/The Canadian Press

The Canadian Press FEBRUARY 21, 2019 11:34 AM

VANCOUVER — WestJet has lost an appeal of a court decision that refused to throw out a proposed class-action lawsuit accusing the airline of fostering a culture that tolerates harassment of female employees.

Former WestJet flight attendant Mandalena Lewis stands for a photograph in Vancouver, B.C., on Tuesday March 8, 2016. DARRYL DYCK / THE CANADIAN PRESS

Former flight attendant Mandalena Lewis is suing over alleged gender-based discrimination, accusing her former employer of breaking its promise to provide a harassment-free workplace for women.

A British Columbia Supreme Court judge dismissed WestJet’s application to strike the legal action in 2017, rejecting the company’s argument that the dispute belongs before a human rights tribunal and workers’ compensation board.

The airline took its argument to the B.C. Court of Appeal and a three-judge panel ruled against it on Thursday, saying in a written decision that nothing in the relevant statutes removes the jurisdiction of the courts in this case.

None of the allegations have been proven in court and neither WestJet nor Lewis immediately responded to requests for comment on the decision.

The lawsuit proposes to represent all of WestJet’s past and current female flight attendants whose employment included a so-called anti-harassment promise, but the case has yet to be approved as a class-action.