Chorus Aviation Reports Stronger Q3 Profit
Chorus Aviation announced net third quarter income of CAD$20.1 million (USD$15 million), up from CAD$6.3 million the previous year.
Chorus Aviation is the parent of Canadian regional carrier Jazz Aviation.
Operating revenue for the quarter was CAD$331.1 million, down 19.7 percent from CAD$412.2 million last year. Expenses were down 22.1 percent to CAD$282.6 million.
The company said the result was in part because of improved cost competitiveness at Jazz and continuing fleet updates.
Chorus chief executive Joe Randell said third quarter strategy was about “advancing the business diversification strategy, improving Jazz's cost competitiveness, fleet modernisation, and establishing Voyageur's Avparts business."
Chorus acquired air operator and maintenance company Voyageur in 2015.