Chorus Aviation to sell regional aircraft leasing segment for $1.9 bln (updated)

Chorus Aviation

30/07/2024 12:58

(Adds deal details)
       July 30 (Reuters) - Jazz Aviation owner Chorus Aviation
 CHR.TO  said on Tuesday it would sell its regional aircraft
leasing segment for about $1.9 billion to investment fund
manager HPS Investment Partners LLC.
    The deal, which includes $814 million in the form of cash
and $1.1 billion in aircraft debt, is expected to close by the
end of the year.
        "This transaction will allow us to significantly reduce
our debt and corporate financings, leaving Chorus with strong
and predictable free cash flows from our long-term contracts,"
said Chorus CEO Colin Copp.
  

 (Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Vijay
Kishore and Maju Samuel)
 ((Aatreyee.Dasgupta@thomsonreuters.com;))