Chorus Aviation Inc. (ticker: CHR_A.TO, exchange: Toronto Stock Exchange (.TO))
News Release -
Jazz Air LP commends Ottawa airport fee reductionHALIFAX, Jun 23, 2008 (Canada NewsWire via COMTEX News Network) -- Jazz Air LP (Jazz) commends the Ottawa International Airport Authority's decision to reduce terminal fees by five per cent, effective July 1, 2008.
Excessive fees, surcharges and taxes continue to plague the aviation industry - the situation is now made worse by soaring fuel prices. Virtually all sectors of the economy are negatively affected by the excessive price of fuel and we applaud every effort made by our partners to lessen our cost burden, and strongly urge others to join this effort. Jazz remains focused on operating as fuel-efficiently as possible and has already implemented a number of fuel-saving initiatives.
Today's airline industry challenges are not limited to air carriers only. We firmly support the Ottawa airport authority's decision and are committed to a teamwork approach, said Joseph Randell, Jazz President and Chief Executive Officer. Overcoming these challenges will require all industry stakeholders working together and we encourage other airport authorities to consider following Ottawa's lead, this will help the travelling public.
Jazz is the second largest airline in Canada based on fleet size and the only airline serving all 10 provinces and two territories. Jazz operates more flights and flies to more Canadian destinations than any other Canadian carrier. Jazz forms an integral part of Air Canada's domestic and transborder market presence and strategy.
Jazz is not a typical airline. The airline has a commercial agreement with Air Canada that is the core of its business. Under the Capacity Purchase Agreement (CPA), Air Canada currently purchases substantially all of Jazz's fleet capacity based on predetermined rates. The CPA provides commercial flexibility, low trip costs and connecting network traffic to Air Canada. Also, the CPA significantly reduces Jazz's financial and business risks, and provides a stable foundation for day-to-day operations and future growth.
SOURCE: Jazz Air Income Fund
SOURCE: Air Canada Jazz