Canada’s Chorus turns C$106m profit in 2023 as all segments remain strong

Canadian airline company Chorus Aviation’s 2023 profit more than doubled year on year to C$106m as all three segments of the company posted gains. For the full year, revenue at Nova Scotia-based Chorus rose 5% to C$1.68b, up from C$1.59b in 2022. Chorus owns Canadian regional airlines Jazz Aviation (an Air Canada feeder carrier) and Voyageur Airways, plus aircraft lessor Falko Regional Aircraft. “Jazz continued to generate predictable earnings and cash flows under its long-term contract with Air Canada, while Voyageur made meaningful strides with two consecutive years of record growth in parts sales, defence and specialty MRO segments,” says CE Colin Copp. “With the recovery in regional aircraft leasing markets and related improvements in airline credits, Falko successfully completed 57 aircraft transactions in 2023 and signed letters of intent for a further thirty aircraft transactions,” Copp adds. ”Falco continues to be the market leader in the regional aircraft leasing and asset management business.”<br/>