Chorus Aviation Inc. (ticker: CHR_A.TO, exchange: Toronto Stock Exchange (.TO))
News Release -
Chorus Aviation Inc. Announces Third Quarter Dividend
HALIFAX, Sep. 21, 2011, 2011 (Canada NewsWire via COMTEX) --
Chorus Aviation Inc. ("Chorus") (TSX: CHR.B CHR.A CHR.DB), formerly Jazz Air Income Fund, today announced a quarterly dividend of $0.15 per Class A and Class B share payable on or after October 18, 2011 to shareholders of record at the close of business on September 30, 2011. These dividends qualify as eligible dividends in Canada and qualifying dividends in the United States.
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, Chorus Leasing I Inc. (which owns Q400 aircraft) and 7503695 Canada Inc. (which holds Chorus' 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 has a strong history in Canadian aviation with its roots going back to the 1930s. Jazz is wholly owned by Chorus Aviation Inc. and continues to generate some of the strongest operational and financial results in the North American aviation industry.
There are three airline divisions operated by Jazz Aviation LP: Air Canada Express, Thomas Cook Canada and Jazz.
Air Canada Express: 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 84 destinations in Canada and in the United States with a fleet of Canadian-made Bombardier aircraft.
Thomas Cook Canada: Jazz 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 Canadian gateways.
Jazz: Under the Jazz brand, the airline offers charters throughout North America with a dedicated fleet of five Bombardier aircraft for corporate clients, governments, special interest groups and individuals seeking more convenience. Jazz also has the ability to offer airline operators services such as ground handling, dispatching, flight load planning, training and consulting.
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SOURCE: CHORUS AVIATION INC.
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