Aviation Starlink Inc. and its affiliates in the acquisition of certain assets of affiliates of Chrono Aviation Inc., and related equity investment and debt financing

On November 8, 2024, Aviation Starlink Inc. and its affiliates closed the acquisition of certain assets of Services Aériens Lux Inc. and other affiliates of Chrono Aviation Inc. and, in connection with the acquisition, closed related equity investments and debt financing of the Chrono Group. The transaction proceeded by way of a vesting order and reverse vesting order issued by the Superior Court of Québec on November 4, 2024, under the Companies’ Creditors Arrangement Act. The reverse vesting order includes the approval of a pre-closing reorganization, which involves the vesting out of liabilities and unwanted assets prior to closing. The Court approved the orders sought despite a contestation of certain stakeholders. As part of the transaction, Aviation Starlink also acts as lender to the Chrono Group entities for the funding of the Group’s operations post-closing.

Aviation Starlink Inc., an entity controlled by Pierre Karl Péladeau, the controlling shareholder of our client Québecor Inc., offers a full range of aviation services, including private jet charter, fixed-based operations, aircraft management, aircraft maintenance and air ambulance. Aviation Starlink Inc. is headquartered in Dorval, Québec.

Chrono Aviation Inc. is a charter airline based in Montréal and Québec City.

Osler, Hoskin & Harcourt LLP advised Aviation Starlink Inc. with a team consisting of Niko Veilleux, Véronique Fortin-Latreille and Vincent Legault (Corporate), Ilia Kravtsov and Jack Little (Insolvency and Restructuring), Etienne Massicotte, Asma Berrak and Jean-Christophe Leduc (Financial Services) Stefan Fews and Vincent Brais (Real Estate), Julien Ranger-Musiol (Labour & Employment), David Wilson and Geneviève Beebe (Tax).