Chorus Aviation Inc. (ticker: CHR_A.TO, exchange: Toronto Stock Exchange (.TO))
News Release -
CHORUS AVIATION INC. ADJUSTS ANNUAL BILLABLE BLOCK HOUR GUIDANCE
HALIFAX, Mar 17, 2011 (Canada NewsWire via COMTEX) --
Chorus Aviation Inc. ("Chorus") (TSX: CHR.B CHR.A CHR.DB), today announced that it is revising its total annual billable block hour guidance of 390,000 to 400,000 block hours, to between 385,000 and 395,000 block hours for the calendar year 2011 as a result of Air Canada's adjusted capacity outlook announced yesterday.
About Chorus Aviation Inc.
Chorus Aviation Inc. ("Chorus") was incorporated on September 27, 2010 and is a dividend-paying holding company which owns Jazz Aviation LP, and 7503695 Canada Inc. which holds the investment in Latin American Regional Aviation Holdings Corp., which in turn holds a 75% indirect equity interest in South American regional carrier, Pluna.
About Jazz Aviation LP
Jazz Aviation LP ("Jazz") has a strong history in Canadian aviation with its roots going back to the 1930s. Since Jazz Air Income Fund became publicly traded in February 2006, Jazz's predecessors have generated some of the strongest operational and financial results in the North American aviation industry.
Under a capacity purchase agreement with Air Canada, Jazz provides service to and from lower-density markets as well as higher-density markets at off-peak times throughout Canada and to and from certain destinations in the United States. Jazz currently operates scheduled passenger service on behalf of Air Canada with over 800 departures per weekday to 85 destinations in Canada and in the United States with a fleet of Canadian-made Bombardier aircraft.
Jazz also operates Boeing 757-200 aircraft on behalf of Thomas Cook Canada in the winter season to various destinations in the Caribbean, Mexico and Central America from four Canadian gateways - Toronto, Ottawa, Montreal and Halifax.
SOURCE: CHORUS AVIATION INC.
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