Chorus Aviation Inc. (ticker: CHR_A.TO, exchange: Toronto Stock Exchange (.TO))
News Release -
Jazz announces the resignation of Senior Vice President and Chief Operating Officer Bill BredtHALIFAX, Jul 14, 2008 (Canada NewsWire via COMTEX News Network) -- Today, Jazz Air LP ("Jazz") announced the resignation of Senior Vice President and Chief Operating Officer William (Bill) Bredt effective August 10, 2008.
Mr. Bredt was appointed Senior Vice President and Chief Operating Officer at Jazz on August 1, 2004, with the overall responsibility for Flight Operations, Inflight, Maintenance and Engineering, Airports and Systems Operations Control. Prior to joining Jazz, Mr. Bredt had spent 33 years at Air Canada in various senior roles. Mr. Bredt will be returning to Air Canada as their new Executive Vice President and Chief Operating Officer.
"Under Bill's leadership Jazz has grown significantly, and his operational expertise has contributed to our steady improvement in operational performance," said Joseph Randell, President and Chief Executive Officer, Jazz. "While we are disappointed to see Bill leave our organization, we are encouraged that our business relationship with Air Canada will be further strengthened as a result of his in-depth knowledge of Jazz and our regional operations. We wish him continued success and thank him most sincerely for his hard work and dedication to making Jazz one of the best regional airlines in the world."
Jazz is the second largest airline in Canada based on fleet size and the number of routes operated. 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 owned by Jazz Air Income Fund (TSX: JAZ.UN).
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 reduces Jazz's financial and business risks, and provides a stable foundation for day-to-day operations and future growth.
About Jazz Air Income Fund
Jazz Air Income Fund is an unincorporated, open-ended trust established under the laws of the Province of Ontario, created to indirectly acquire and hold an interest in the outstanding limited partnership units of Jazz Air LP.
SOURCE: Jazz Air Income Fund
SOURCE: Air Canada Jazz
Media Contact: Halifax, Nova Scotia: Manon Stuart, (902) 873-5054; London, Ontario:
Debra Williams, (519) 659-5696; www.flyjazz.ca