JAZZ ANNOUNCES THE APPOINTMENT OF RICHARD FLYNN AS CHIEF FINANCIAL OFFICER
Dec 6, 2010
Allan Rowe to retire in February 2011
HALIFAX, Dec. 6 /CNW/ - Today, Jazz Air Income Fund (TSX: JAZ.UN, JAZ.DB) ("Jazz") announced the appointment of Richard (Rick) Flynn as Chief Financial Officer effective February 28, 2011, to coincide with the retirement of Allan Rowe after a successful career in finance that has spanned more than 30 years.
Rick is currently the Vice President of Finance at Jazz, and has held a number of senior roles since he began his career in the airline industry in 1986. Beyond financial roles, Rick's career has encompassed assignments and responsibility in most functional areas within the regional airline industry including airports, in-flight, commercial services, and sales and marketing.
"We are fortunate to have such a strong and well respected successor for this key position," said Joseph Randell, President and Chief Executive Officer, Jazz. "I've known and worked with Rick for just under twenty-five years, and I'm confident that his breadth of experience will continue to contribute to the success of our company. Allan has been a great mentor to Rick in the many aspects of being a publicly-traded entity, and I sincerely thank him for providing us with a transition period to ensure a smooth succession."
Mr. Randell went on to say, "Allan has shown great leadership over the last several years and has been integral to our achievement of several significant milestones. He was instrumental in leading the successful initial public offering of the Jazz Air Income Fund, the debenture financing transaction, and overseeing our current corporate conversion and the financial reporting changes required under the International Financial Reporting Standards. It has been my great pleasure to work with, and to know Allan, and I wish him a healthy and enjoyable retirement."
CAUTION REGARDING FORWARD-LOOKING INFORMATION ---------------------------------------------
Certain statements in this news release may contain statements which are forward-looking statements. These forward-looking statements are identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would", and similar terms and phrases, including references to assumptions. Such statements may involve but are not limited to comments with respect to strategies, expectations, planned operations or future actions. Forward-looking statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and other uncertain events. Forward-looking statements, by their nature, are based on assumptions, including those described below, and are subject to important risks and uncertainties. Any forecasts or forward-looking predictions or statements cannot be relied upon due to, amongst other things, changing external events and general uncertainties of the business. Such statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to differ materially from those expressed in the forward-looking statements. Results indicated in forward-looking statements may differ materially from actual results for a number of reasons, including without limitation, risks relating to Jazz's relationship with Air Canada and Thomas Cook Canada Inc., risks relating to the airline industry, energy prices, general industry, market credit and economic conditions, competition, insurance issues and costs, supply issues, war, terrorist attacks, epidemic diseases, acts of God, changes in demand due to the seasonal nature of the business, the ability to reduce operating costs and employee counts, secure financing, employee relations, labour negotiations or disputes, restructuring, pension issues, currency exchange and interest rates, changes in laws, adverse regulatory developments or proceedings, pending and future litigation and actions by third parties, as well as the factors identified in the Risk Factors section of the Fund's MD&A dated November 8, 2010. The forward-looking statements contained in this discussion represent the expectations of the Fund and Jazz as of November 8, 2010, and are subject to change after such date. However, the Fund and Jazz disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
About Jazz Air Income Fund
The Fund is an unincorporated, open-ended trust established under the laws of the Province of Ontario, created to indirectly acquire and hold an interest in the outstanding limited partnership units of Jazz.
About Jazz Air LP
Jazz Air LP ("Jazz") is indirectly wholly owned by the Jazz Air Income Fund, and has a strong history in Canadian aviation with its roots going back to the 1930s. Since Jazz became publicly traded in February 2006, it has generated some of the strongest operational and financial results in the North American aviation industry. For more information, visit www.flyjazz.ca.
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