Chorus Aviation Finalizes Sale of Regional Aircraft Leasing Segment On December 6, 2024, in Halifax, Nova Scotia,
Chorus Aviation Inc. (TSX: CHR), announced the successful completion of the sale of its Regional Aircraft Leasing (RAL) segment. The transaction marks a significant milestone for Chorus as it aims to solidify its financial future. Chorus’s President and Chief Executive Officer,
Colin Copp, expressed enthusiasm about the transaction, stating, “The sale of our RAL segment, including Falko, has positioned Chorus with a stronger financial base. This will support an enduring capital return program for shareholders and facilitate stable growth within our aviation services.” Copp further conveyed gratitude towards the many stakeholders, including employees, advisors, the board of directors, and shareholders, for endorsing this transformational step. Alongside the transaction, Chorus also announced significant leadership changes. Long-time executive,
Jolene Mahody, Executive Vice President and Chief Strategy Officer, will retire in January 2025, concluding a remarkable 32-year tenure with Chorus and its predecessors. Stepping into the role of Chief Operating Officer on January 1, 2025, will be
Randolph deGooyer, transitioning from his current position as President of Jazz Aviation.
Doug Clarke, Jazz’s Vice President of Finance and Business Services, will assume the role of President of Jazz Aviation. Copp acknowledged Mahody’s remarkable contributions, especially in preparing the business for this significant shift, and offered best wishes for Randolph and Doug as they undertake their new responsibilities. He emphasized that these changes are crucial as Chorus embarks on a new chapter. Streamlined Corporate Structure The sale of the RAL segment also enables Chorus to reduce its corporate overhead. This streamlining includes a reduction of the Board of Directors by 50 percent. Directors
- Gail Hamilton
- R Stephen Hannahs
- Alan Jenkins,
- David Levenson
will be stepping down as of January 1, 2025. Meanwhile,
Karen Cramm will continue until the next annual general meeting. Copp expressed gratitude, “To our departing directors, thank you for your guidance over the years, and most recently, your invaluable counsel during the divestiture of our leasing business. We wish you the very best.” About Chorus Aviation Inc. Chorus, based in Canada, is dedicated to aviation services. It operates three primary subsidiaries:
- Jazz Aviation: Canada’s largest regional operator under the Air Canada Express brand.
- Voyageur Aviation: Specialist in charter services, aircraft modifications, and this provides in-service support.
- Cygnet Aviation Academy: Offers accredited pilot training programs directly leading to airline careers.
Collectively, Chorus’s subsidiaries deliver a comprehensive suite of aviation services encompassing every aspect of an aircraft’s lifecycle from acquisition, modifications, maintenance, to pilot training. Scudrunners.com
Source:
https://news.scudrunners.com/chorus-avi ... p-changes/
