HALIFAX — Chorus Aviation Inc. says its subsidiary Falko Regional Aircraft Ltd. has signed agreements to sell eight aircraft for a total of US$45 million in net proceeds after related debt repayments and estimated tax provisions.
Chorus chief executive Joe Randell says the sales decrease debt and leverage while generating cash flows from trading.
He says the company will continue to look for opportunistic sales to increase shareholder value.
Chorus says the deal is not expected to materially change its financial forecast.
The transaction is expected to close before the end of the third quarter of 2022.
Chorus closed its acquisition of Falko earlier this year in a deal that made it a leader in regional aircraft leasing.
This report by The Canadian Press was first published Aug. 29, 2022.
Companies in this story: (TSX:CHR)
The Canadian Press
