Chorus adds 34 aircraft on-lease in a record 2019

Press Release:

Chorus Aviation Inc. announced today that Chorus Aviation Capital added a total of 34 aircraft on-lease in 2019. This brings Chorus Aviation Capital’s (CAC) third-party lease portfolio to 64 aircraft.

Year-end, and previously unannounced transactions, include the acquisition of two mid-life Dash 8-400 aircraft on lease to Croatia Airlines, and an additional sale leaseback of two new ATR 72-600 aircraft (MSNs 1545 and 1552) with IndiGo.

Additionally, CAC has extended its lease agreements with Aerolitoral S.A. de C.V. (d.b.a. Aeromexico Connect), a subsidiary of Aerovías de México, on three Embraer 190 aircraft previously acquired in 2017.

“In the three short years since the establishment of CAC, we have grown the third-party leasing portfolio to 641 aircraft valued at approximately US$1.3 billion with US$960 million in future contract lease revenue,” said Steve Ridolfi, President, Chorus Aviation Capital.

Established in 2017, Chorus Aviation Capital currently has relationships with 16 airlines based in 15 countries, focusing on new and mid-life regional aircraft, as well as regional aviation services.

“The year 2019 was one of many firsts for CAC. We secured a US$300 million warehouse facility, traded our first portfolio aircraft with the previously announced sale of three Dash 8-400 Falcon aircraft, and extended our first leases with the renewal of the three Aeromexico Connect E190 aircraft,” added Ridolfi. “With this successful aircraft re-lease outcome, we have no further scheduled lease expiries until 2021. Additionally, 2019 saw us deliver our first Airbus A220-300 aircraft for lease to airBaltic.”

Headquartered in Halifax, Nova Scotia, parent company Chorus is comprised of Chorus Aviation Capital, as well as operators Jazz Aviation and Voyageur Aviation.

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