Chorus Aviation announces agreements to acquire two Embraer 190 aircraft on lease to KLM Cityhopper and Aeromexico Connect

HALIFAX, July 17, 2017 /CNW/ – Chorus Aviation Inc. (‘Chorus’) (TSX: CHR) announced today agreements by Chorus Aviation Capital’s subsidiaries to acquire two Embraer 190 aircraft. One of these aircraft is currently on lease to Dutch carrier KLM Cityhopper, a subsidiary of KLM Royal Dutch Airlines. The other aircraft is currently on lease with Aerolitoral, S.A. de C.V. (d.b.a. Aeromexico Connect), a subsidiary of Aerovías de México, S.A. de C.V. (d.b.a. ‘Aeromexico’).

The aircraft are three years old and the first Embraer 190s to be added to Chorus Aviation Capital’s regional aircraft fleet.

Reflecting on the acquisition, Chorus Aviation Capital’s President, Steven Ridolfi, said, “We are delighted to add these two outstanding, world-renowned customers to our growing pool of airline lessees, and look forward to adding the first two Embraer 190s to our fleet.”

“This transaction represents an exciting milestone for Chorus,” said Joe Randell, President and Chief Executive Officer, Chorus. “We are broadening our revenue base through the addition of high-quality lessees and extending our market reach through the addition of Embraer aircraft to our fleet. Importantly, we are growing by leveraging what we know best: regional aviation.”

The transactions are expected to close in the third quarter and are subject to customary conditions precedent to closing, including novation of the existing leases.