Chorus Aviation

Chorus Aviation in Air Canada’s $97.3 million investment and CPA extension

Client

Chorus Aviation Inc.

Value

$97.6 million

Service

Capital Markets

Date Closed

February 2019

Lead Office

Toronto


On February 4, 2019, Air Canada and Chorus Aviation Inc., parent company of Jazz Aviation LP, announced the extension of the Capacity Purchase Agreement (CPA) between Air Canada and Jazz has become effective.  As part of the agreement to amend the CPA, Air Canada also completed a $97.26 million equity investment in Chorus. The investment will equip Air Canada with additional cost-effective means to compete in the all-important regional market segment and provide long-term stability to Chorus and Jazz.

Chorus Aviation Inc., through its subsidiaries, operates scheduled passenger service on behalf of Air Canada under the Air Canada Express brand name with approximately 700 departures per weekday to 59 destinations in Canada.

Osler, Hoskin & Harcourt LLP represented Chrorus Aviation with a team led by Chris Murray that included Alex Gorka and Douglass Dawson (Corporate).


Team
Alex Gorka

Alex Gorka

Partner, Corporate

Douglass Dawson

Douglass Dawson

Associate, Corporate