Chorus Aviation Announces Expansion of Assets Under Management

HALIFAX, NS, June 21, 2022 /CNW/ – Chorus Aviation Inc. (‘Chorus’) (TSX: CHR) today announced that its wholly owned subsidiary, Falko Regional Aircraft Limited (“Falko”), has expanded its portfolio of assets under management.

Falko has added a total of 35 turboprop aircraft to its portfolio in a servicing capacity on behalf of a syndicate of banks. 

Joe Randell, President and Chief Executive Officer, Chorus stated “I’m pleased to see the continued expansion of our asset management business and to demonstrate the ability of Falko to continue to diversify its customer base.”

“This transaction further validates our belief in the attractiveness of the regional aircraft market and in Falko, as a market-leading aircraft asset management company,” Mr. Randell concluded.

This transaction is not expected to impact the financial forecast set out in Chorus’ news release dated May 5, 2022.

About Chorus Aviation Inc.

Chorus’ vision is to deliver regional aviation to the world. Headquartered in Halifax, Nova Scotia, Chorus is an integrated provider of regional aviation solutions, including asset management services.   Its principal subsidiaries are: Falko Regional Aircraft, the world’s largest aircraft lessor and asset manager focused solely on the regional aircraft leasing segment; Jazz Aviation, the sole provider of regional air services to Air Canada; and Voyageur Aviation, a provider of specialty air charter, aircraft modification, and parts provisioning services to regional aviation customers around the world.  Together, Chorus’ subsidiaries provide support services that encompass every stage of a regional aircraft’s lifecycle, including: aircraft acquisition and leasing; aircraft refurbishment, engineering, modification, repurposing and transition; contract flying; aircraft and component maintenance, disassembly, and parts provisioning.