Chorus Aviation Inc. ('Chorus') (TSX: CHR) announced today an agreement to lease four new ATR72-600's to the Lion Air Group.
The first of these aircraft is scheduled for delivery in the fourth quarter of 2018, with the remaining three scheduled for delivery in the first and second quarters of 2019. It is anticipated that the aircraft will be operated by members of the Lion Air Group in Indonesia and Malaysia.
This transaction marks the second multi-aircraft leasing transaction in the fast-growing Southeast Asia region, expanding Chorus' leasing business to 12 lessees in 12 countries and a total of 78 aircraft.
"We are very pleased to add Lion Air to our portfolio, expanding our global network of customers in line with Chorus' vision to deliver regional aviation to the world," said Steve Ridolfi, President, Chorus Aviation Capital. "We are proud to have earned the trust of exceptional customers and continue to evaluate multiple opportunities as we expand our leasing business."
Edward Sirait, Chief Executive Officer, Lion Air Group said, "We are delighted to start this new relationship with Chorus, as a lessor."
Upon completing the transaction contemplated by this announcement, Chorus Aviation Capital's customers will comprise: Aeromexico Connect; Air Nostrum; Azul Airlines; CityJet; Ethiopian Airlines; Flybe; Falcon Aviation Services; KLM Cityhopper; Lion Air Group; Philippine Airlines; Virgin Australia; and its Chorus affiliate, Jazz Aviation.