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Name | Symbol | Market | Type |
---|---|---|---|
Chorus Aviation Inc | TSX:CHR.DB.A | Toronto | Debenture |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 97.15 | 97.95 | 99.00 | 0 | 14:22:23 |
HALIFAX, NS, March 29, 2023 /CNW/ - Chorus Aviation Inc. ("Chorus") (TSX: CHR) announced that it is holding an Investor Day today, March 29, 2023. The presentation materials will be posted to the Chorus website prior to the start of the event. Please note a video recording will be made available on the website shortly following the event.
"Today marks Chorus' first Investor Day conference, and we are excited to share our vison for the company," said Colin Copp, President and Chief Executive Officer, Chorus. "There have been significant changes in our business over the past year, including a shift in strategic direction as we pursue an asset light leasing model. These changes are enabling us to significantly deleverage our business while improving the quality of our earnings. With $2.6 billion1 in future contracted revenues and US $700.0 million of embedded equity value2 in Falko's on-balance sheet portfolio of leased aircraft, we are in a strong position to generate substantial cash flow that can be deployed to enhance shareholder returns and make accretive investments in future growth. I look forward to engaging further with our shareholders and demonstrating the value of our strategy as we execute in the months and years to come," concluded Mr. Copp.
The Investor Day will include presentations by Mr. Copp on the company's strategy and members of the Chorus executive team on their respective subsidiaries and corporate functions:
The following content will be made available on Chorus' website:
The presentations include management's views on the current value of Chorus' common equity.
Complete details of Chorus' previously communicated 2023 forecasts and key economic assumptions can be found in Management's Discussion and Analysis of Operations and Financial Condition dated February 15, 2023 (the "2022 MD&A") available at www.chorusaviation.com and under Chorus' profile on SEDAR at www.sedar.com.
Capitalized terms used but not defined in this news release have the meanings given to them in the 2022 MD&A.
This news release includes forward-looking information. Forward-looking information is identified by the use of terms and phrases such as "future", "anticipate", "believe", "can", "could", "estimate", "expect", "intend", "make", "may", "plan", "potential", "predict", "project", "will", "would", and similar terms and phrases, including references to assumptions. Such information may involve but is not limited to comments and statements with respect to strategies, expectations, planned operations or future actions. Forward-looking information relates to analyses and other information that is based on forecasts of future results, estimates of amounts not yet determinable and other uncertain events. Forward-looking information, by its nature, is based on assumptions, including those referenced in this news release, and is subject to important risks and uncertainties. Any forecasts or forward-looking predictions or statements cannot be relied upon due to, among other things, external events, changing market conditions and general uncertainties of the business. Such information and statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those indicated in the forward-looking information.
Examples of forward-looking information in this news release include statements regarding Chorus' future contracted revenues, plans to reduce debt leverage, and the ability to monetize the embedded equity value in Falko's portfolio of leased aircraft to enhance shareholder returns and make accretive investments in growth. Actual results may differ materially from results indicated in forward looking information for a number of reasons, including: amendments to long-term contracts and/or breaches or disputes concerning those contracts; changing economic conditions (including inflation and interest rates); the emergence of new COVID-19 variants or new epidemics and pandemics; Falko's ability to successfully launch new funds on the terms currently contemplated or at all; Voyageur's ability to grow its defence and parts businesses; the trading price and liquidity of Chorus' shares; Chorus' ability to pay its indebtedness and otherwise remain in compliance with its debt covenants; the risk of cross defaults under debt agreements and other significant contracts; the risk of asset impairments and provisions for expected credit losses; the risk factors referenced in Chorus' most recent Annual Information Form and in its public disclosure record available on SEDAR at www.sedar.com. Readers are cautioned that the foregoing factors and risks are not exhaustive. The forward-looking statements contained in this news release represent Chorus' expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and are subject to change after such date. Chorus disclaims any intention or obligation to update or revise such statements to reflect new information, subsequent events or otherwise, except as required by applicable securities laws.
Chorus' vision is to deliver regional aviation to the world. Headquartered in Halifax, Nova Scotia, Chorus is an integrated provider of regional aviation solutions, including asset management services. Its principal subsidiaries are: Falko Regional Aircraft, the world's largest asset manager and aircraft lessor focused solely on the regional aircraft leasing segment; Jazz Aviation, the sole provider of regional air services under the Air Canada Express brand; and Voyageur Aviation, a provider of specialty air charter, aircraft modification, and parts provisioning services to regional aviation customers around the world. Together, Chorus' subsidiaries provide support services that encompass every stage of a regional aircraft's lifecycle, including: aircraft acquisition and leasing; aircraft refurbishment, engineering, modification, repurposing and transition; contract flying; aircraft and component maintenance, disassembly, and parts provisioning.
Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol 'CHR'. Chorus 5.75% Senior Unsecured Debentures due December 31, 2024, 6.00% Convertible Senior Unsecured Debentures due June 30, 2026, and 5.75% Senior Unsecured Debentures due June 30, 2027 trade on the Toronto Stock Exchange under the trading symbols 'CHR.DB.A', 'CHR.DB.B', and 'CHR.DB.C' respectively. www.chorusaviation.com
SOURCE Chorus Aviation Inc.
Copyright 2023 Canada NewsWire
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