Chorus Aviation announces aircraft leasing transactions with Connect Airlines

Chorus Aviation Inc. ('Chorus') (TSX: CHR) announced today that Chorus Aviation Capital ('CAC') has entered into agreements to lease two Dash 8-400 aircraft to Waltzing Matilda Airlines, LP ('WMA'), doing business as Connect Airlines. CAC expects to deliver the aircraft in September and November 2021.

"We are delighted to welcome Connect Airlines to our family of lessees and look forward to building a strong partnership with this new and exciting U.S. scheduled passenger carrier," commented Steven Ridolfi, President, CAC.

"We commend the team at CAC for supporting our launch of Connect Airlines. Connect's selection of the venerable and Canadian-built Dash 8-400 turboprop aircraft demonstrates our confidence in its passenger and operational advantages," commented John Thomas, Chief Executive Officer of WMA.

These two aircraft are the last two remaining Dash 8-400s previously operated by Flybe and repossessed by CAC in 2020. Inclusive of the previously announced transactions with Cobham and Sky Alps, CAC has now remarketed and successfully placed all the repossessed Dash 8-400 aircraft. All aircraft underwent reconfiguration and return-to-service work at Chorus' subsidiaries, Voyageur Aviation and Jazz Technical Services.

"I'm proud of the Chorus team's collaborative efforts in finding opportunities and delivering integrated solutions to remarket our aircraft in this challenging environment" said Joe Randell, President and Chief Executive Officer, Chorus. "Our decades of experience as a regional operator together with our expertise in providing a full suite of regional aviation services differentiate Chorus from the competition."