Brief: Chorus Aviation - Confirmed Condition Precedent To Revisions Of Capacity Purchase Agreement Between Jazz & Air Canada Announced On March 1, 2021 Has Been Met

Chorus Aviation

15/03/2021 11:13

March 15 (Reuters) - Chorus Aviation Inc  CHR.TO :
    * CHORUS AVIATION - CONFIRMED CONDITION PRECEDENT TO
REVISIONS OF
CAPACITY PURCHASE AGREEMENT BETWEEN JAZZ & AIR CANADA ANNOUNCED
ON MARCH 1, 2021 HAS BEEN MET
    * CHORUS AVIATION INC - AMENDED CPA IS EFFECTIVE ON A
RETROACTIVE
BASIS TO JANUARY 1, 2021
    * CHORUS AVIATION - NEWLY RATIFIED AGREEMENT WITH JAZZ
PILOTS, AS
REPRESENTED BY AIR LINE PILOTS ASSOCIATION INTERNATIONAL, WILL
RUN UNTIL DEC 31, 2035
    * CHORUS AVIATION INC - REVISIONS TO CPA INCLUDE
CONSOLIDATION OF
25 EMBRAER 175S INTO JAZZ'S COVERED AIRCRAFT FLEET
    * CHORUS AVIATION INC - JAZZ WILL OPERATE 25 E175S UNDER
CPA.
    * CHORUS AVIATION INC - JAZZ IS EXCLUSIVE AIR CANADA EXPRESS
OPERATOR OF 70+ SEAT AIRCRAFT UNTIL END OF 2025
    * CHORUS AVIATION - FIXED FEES INCREASE BY $46.0 MILLION
OVER TERM
OF CPA WITH ANNUAL MINIMUM FIXED FEES INCREASING BY $1.2 MILLION
PER YEAR FROM 2021 TO 2025
    * CHORUS AVIATION INC - ANNUAL MINIMUM FIXED FEES INCREASING
BY
ABOUT $4.0 MILLION PER YEAR FROM 2026 TO 2035 UNDER REVISIONS TO
CPA
    * CHORUS AVIATION INC - REVISIONS TO CPA INCLUDE REMOVAL OF
19
DASH 8-300S FROM JAZZ'S COVERED AIRCRAFT FLEET
    * CHORUS AVIATION INC - 19 DASH 8-300S WILL BE REMOVED FROM
FLEET
IN 2021
    * CHORUS AVIATION - DUE TO REVISIONS TO CPA, CO ANTICIPATES
ONE-TIME COSTS, CHARGES, AND OTHER FEES TO RANGE BETWEEN $100.0
MILLION AND $110.0 MILLION

Source text for Eikon:  ID:nCNWCBMjca 
Further company coverage:  CHR.TO 

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