Chorus posts US$83m 2016 net profit; leasing revenue up 44%
Chorus Aviation, the parent company of Canadian regional airline Jazz Aviation, posted 2016 net profits of C$111.8m (US$83m), more than quadrupling its $25.5m net result for 2015. “Our overall [2016] fiscal results were in line with our expectations,” Chorus president and CE Joe Randell said. “The capacity purchase agreement (CPA) with Air Canada continues to … deliver strong and stable financial results … we achieved a 44% increase year-over-year in our aircraft leasing revenue under the CPA, to $99m.” Chorus’ full-year operating revenue totaled $1.3b, down 17.3% from $1.5b in 2015. The company’s full-year expenses were $1.1b, down 19.3% from $1.4b in 2015. Operating income for the year was $151.5m, up 1.3% over $149.5m in 2015. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-02-28/unaligned/chorus-posts-us-83m-2016-net-profit-leasing-revenue-up-44
https://portal.staralliance.com/cms/logo.png
Chorus posts US$83m 2016 net profit; leasing revenue up 44%
Chorus Aviation, the parent company of Canadian regional airline Jazz Aviation, posted 2016 net profits of C$111.8m (US$83m), more than quadrupling its $25.5m net result for 2015. “Our overall [2016] fiscal results were in line with our expectations,” Chorus president and CE Joe Randell said. “The capacity purchase agreement (CPA) with Air Canada continues to … deliver strong and stable financial results … we achieved a 44% increase year-over-year in our aircraft leasing revenue under the CPA, to $99m.” Chorus’ full-year operating revenue totaled $1.3b, down 17.3% from $1.5b in 2015. The company’s full-year expenses were $1.1b, down 19.3% from $1.4b in 2015. Operating income for the year was $151.5m, up 1.3% over $149.5m in 2015. <br/>
