Chorus Aviation Announces new Capacity purchase Agreement with Air Canada to 2025 Approximately CAD 500 Million (USD400 Million) in Financial value
Chorus Aviation Announces new Capacity purchase Agreement with Air Canada to 2025
Approximately CAD 500 Million (USD400 Million) in Financial value
Chorus Aviation, parent company of Jazz Aviation, announced (03-Feb-2015) all terms and conditions have been met to establish an amended and extended capacity purchase agreement with Air Canada. The amended CPA is retroactively effective 01 Jan 2015 and is in effect until 31-Dec-2025. The agreement expected to generate approximately CAD 500 Million (USD400 Million) in financial value over next six years The compensation
structure changes from a 'cost plus a 12.5% mark-up' to a fixed fee arrangement, and also eliminates the requirement for a benchmarking provision. Chorus president and CEO Joseph Randell stated, "We are transforming Chorus to become a more formidable competitor in the regional aviation industry. The time is right to restructure the CPA as it was no longer competitive in the ever-changing regional environment. Our amended CPA and fleet modernization improves fleet economics and enables a stronger relationship for the long term. Chorus will continue to enjoy strong compensation levels over our 11-year horizon which is anticipated to support the current dividend and diversification opportunities going forward."
Chorus Aviation announces new capacity purchase agreement with Air Canada to 2025
CAPA - Centre for Aviation
Chorus Aviation, parent company of Jazz Aviation, announced (02-Feb-2015) all terms and conditions have been met to establish an amended and ...
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