Jazz parent Chorus reports $18m Q2 net profit
Chorus Aviation, the parent company of Canadian regional airline Jazz Aviation, reported a Q2 net profit of C$23.7m, down 24.5% from net income of C$31.4m in the 2015 June quarter. Q2 operating revenue of C$310.1m was down 22.5% year-over-year and expenses decreased 23.8% to C$275.7m. Operating income was C$34.4m, down 9.5% from an operating profit of C$38m in the 2015 June quarter. During Q2, Chorus acquired five Bombardier Q400s and reached a deal with Bombardier to order five CRJ900s. Chorus also took delivery of an additional Q400 on Aug. 5. Chorus president and CEO Joe Randell said that Jazz’s operational performance “remained amongst the highest in the North American airline industry,” noting the carrier earned 96.7% of available performance incentive payments (totalling C$5.7m) under its capacity purchase agreement with Air Canada.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-08-12/unaligned/jazz-parent-chorus-reports-18m-q2-net-profit
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Jazz parent Chorus reports $18m Q2 net profit
Chorus Aviation, the parent company of Canadian regional airline Jazz Aviation, reported a Q2 net profit of C$23.7m, down 24.5% from net income of C$31.4m in the 2015 June quarter. Q2 operating revenue of C$310.1m was down 22.5% year-over-year and expenses decreased 23.8% to C$275.7m. Operating income was C$34.4m, down 9.5% from an operating profit of C$38m in the 2015 June quarter. During Q2, Chorus acquired five Bombardier Q400s and reached a deal with Bombardier to order five CRJ900s. Chorus also took delivery of an additional Q400 on Aug. 5. Chorus president and CEO Joe Randell said that Jazz’s operational performance “remained amongst the highest in the North American airline industry,” noting the carrier earned 96.7% of available performance incentive payments (totalling C$5.7m) under its capacity purchase agreement with Air Canada.<br/>
