chorus aviation outlook

Necessary cookies are absolutely essential for the website to function properly. Chorus Aviation Inc. (CHR.TO)'s management team includes the following people: Apple pays $30 million per month for mysterious “6G” network? Get All The Latest News Delivered Straight Into Your Inbox For Free! Jazz expects to operate between approximately 20% to 30% of its capacity in the fourth quarter of 2020 and in the first quarter of 2021 compared to the same prior year periods. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. ", "In addition to feeling safe, passengers need affordable regional transportation. ), Chorus Aviation Inc. (CHR.TO) has received 280 “underperform” votes. Actual results may differ materially from results indicated in forward-looking information for a number of reasons, including a prolonged duration of the COVID-19 outbreak and/or further restrictive measures to contain its spread, the evolving impact of COVID-19 on Chorus' contractual counterparties, changes in aviation industry and general economic conditions, the continued payment (in whole or in part) of amounts due under the CPA, the risk of disputes under the CPA, Chorus' ability to pay its indebtedness and otherwise remain in compliance with its debt covenants, the risk of cross defaults under debt agreements and other significant contracts, the risk of asset impairments and provisions for expected credit losses, the delay in delivery or non-delivery of the remaining new CRJ900 aircraft to Chorus for operation and lease under the CPA, as well as the factors identified in the Risk Factors section of Chorus' Annual Information Form dated February 12, 2020, and in Chorus' public disclosure record available at Chorus is a global provider of integrated regional aviation solutions. These items are excluded because they affect the comparability of Chorus’ financial results, period-over-period, and could potentially distort the analysis of trends in business performance. You may vote once every thirty days. Parts sales operations experienced lower demand during the quarter due to the impact of COVID-19. Chorus uses certain non-GAAP financial measures, described below, to evaluate and assess performance. HALIFAX, NS, Nov. 10, 2020 /CNW/ - Chorus Aviation Inc. ('Chorus') (TSX: CHR) today announced third quarter 2020 financial results and an update on the impact of COVID-19. CAC leases three E190s to Aeromexico which currently remain under lease. Capital expenditures in 2020, including capitalized major maintenance overhauls but excluding expenditures for the acquisition of aircraft and the ESP, are expected to be between $17.0 million and $23.0 million. CAC leases three E190s to Aeromexico which currently remain under lease. As of September 30, 2020, the Controllable Cost Guardrail receivable from Air Canada was $17.7 million. The Regional Aircraft Leasing segment's adjusted EBITDA decreased by $4.0 million primarily due to a $4.1 million expected credit loss provision related to management's assessment of its lessee credit risk, and lower lease margins due to the loss of revenue resulting from the repossession of aircraft from Flybe, CityJet and Virgin Australia; partially offset by growth in aircraft earning leasing revenue. As at September 30, 2020, Chorus' long-term debt associated with these aircraft was US $35.7 million and US $10.4 million for three ATR72-600s and two Dash 8-400s, respectively. In the third quarter of 2020, Chorus reported adjusted EBITDA of $85.9 million, a decrease of $6.8 million over the third quarter of 2019. To see all exchange delays and terms of use please see disclaimer. Aeromexico filed for voluntary Chapter 11 petitions in the United States on June 30, 2020 in order to implement a financial restructuring. Create one. Forward-looking information, by its nature, is based on assumptions, including those referenced below, and is subject to important risks and uncertainties. ", "Demand for air service will only return when people have confidence that their health and safety are protected, and when the requirement for quarantine is reduced or eliminated. The Regional Aviation Services segment's adjusted EBITDA decreased by $8.3 million. This news release references several non-GAAP financial measures to supplement the analysis of Chorus' results. Such information may involve but is not limited to comments with respect to strategies, expectations, planned operations or future actions. Between September 30, 2020 and November 10, 2020, Chorus received two of the six pending CRJ900s. Aircraft related acquisitions and ESP capital expenditures in 2020 are expected to be between $417.0 million and $426.0 million.1, (unaudited)(expressed in thousands of Canadian dollars), Capital expenditures, excluding aircraft acquisitions and ESP. Chorus Aviation Inc. (CHR.TO) has a market capitalization of C$581.10 million and generates C$1.23 billion in revenue each year. Jazz has reduced its furloughed employees from 65% to 45% of its workforce since the end of second quarter 2020 associated with increased operating capacity. Three of these Dash 8-400s are unencumbered. Chorus is a global provider of integrated regional aviation solutions. "Airlinerwatch" is an online publication dedicated to providing the latest news, progress, and market intelligence about the global airliner industry for aviation professionals and enthusiasts. As of September 30, 2020, the Controllable Cost Guardrail receivable from Air Canada was $17.7 million. These deferrals are estimated to increase Chorus’ trade receivables and long-term lease deferral receivables to approximately US $41.0 million by the end of the year. Headquartered in Halifax, Nova Scotia, Chorus is comprised of Chorus Aviation Capital a leading, global lessor of regional aircraft, and Jazz Aviation and Voyageur Aviation – companies that have long histories of safe operations with excellent customer service. The call may be accessed by dialing 1-888-231-8191. 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 lease liability related to aircraft, signing bonuses, employee separation program costs, impairment provisions, lease repossession costs net of security packages recovered, strategic advisory fees and the applicable tax expense (recovery). Excluding these items does not imply they are non-recurring due to ongoing currency fluctuations between the Canadian and US dollar.

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