Chorus Aviation Inc. - President & CEO, Joe Randell
President & CEO, Joe Randell
Source: Canada’s Aviation Hall of Fame
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  • Chorus Aviation Inc. (CHR) subsidiary has signed agreements to sell eight aircraft for US$45 million
  • Subsidiary Falko has an extensive track record selling aircrafts with over 160 sales
  • Proceeds will go towards reducing the company’s debt and generating cash flows
  • The transaction may close before the end of the company’s third fiscal quarter
  • Chorus Aviation Inc. (CHR) is up 1.92 per cent and is trading at $2.92 per share as pf 2:03 p.m. ET

Chorus Aviation (CHR) subsidiary, Falko Regional Aircraft Limited, has signed agreements to sell eight aircrafts for US$45 million.

Chorus is a provider of regional aviation solutions, including asset management services and its principal subsidiary is Falko, among others. The Falko team has an extensive track record selling aircrafts with over 160 sales.

“The recent Falko acquisition has made Chorus a market leading regional aircraft asset manager and the world’s largest aircraft lessor focused solely on the regional aircraft leasing space, significantly advancing our growth and diversification strategy,” Joe Randell, President and CEO of Chorus, said.

The sale will decrease the company’s debt while generating cash flows from trading.

This transaction is expected to close before the end of the company’s third fiscal quarter and is not expected to materially change the recently announced financial forecast.

Chorus Aviation Inc. (CHR) is up 1.92 per cent and is trading at $2.92 per share as pf 2:03 p.m. ET.


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