HALIFAX, NS, Aug. 28, 2023 /CNW/ - Chorus Aviation Inc. ('Chorus') (TSX: CHR) today announced that its subsidiary, Jazz Aviation LP ('Jazz'), and Jazz pilots represented by the Air Line Pilots Association ('ALPA') ratified modifications to their collective agreement on August 28, 2023, with an effective date of September 1, 2023.
"I want to thank our Jazz and ALPA negotiating teams for their efforts in reaching this agreement that recognizes the changing pilot wage environment and provides Jazz with improved recruitment and training options," said Randolph deGooyer, President, Jazz. "Through this modified agreement, we have shown a shared commitment to addressing industry challenges collaboratively," Mr. deGooyer concluded.
Colin Copp, President and CEO, Chorus, acknowledged Jazz for its ability to collaborate with unions and its customer, Air Canada, to reach a progressive solution. "Jazz has an excellent track record of finding solutions and working well with its unions. These changes will further position Jazz as the leading regional operator in Canada," said Mr. Copp.
The modified collective agreement will not have a financial impact on Chorus.
This news release may include forward-looking information. Forward-looking information is identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "potential", "predict", "project", "will", "would", and similar terms and phrases, including negative versions thereof. Forward-looking information is based on forecasts of future results, estimates of amounts not yet determinable and other assumptions. Actual results may differ materially from results indicated in forward-looking information for a number of reasons, including the risk factors referenced in Chorus' public disclosure record available on SEDAR at www.sedar.com. Any forward-looking information in this news release represents Chorus' expectations as of the date of this news release and is subject to change after such date. Chorus disclaims any intention or obligation to update or revise such information to reflect new information, subsequent events or otherwise, except as required by applicable securities laws.
Jazz Aviation LP is the largest regional carrier in Canada and the primary operator of Air Canada Express flights to destinations across North America. Jazz is one of Canada's Top Employers for Young People and a Best Diversity Employer with an award-winning safety culture. These strengths, along with Jazz's proven track record of industry leadership and exceptional customer service, create and deliver value to stakeholders. flyjazz.ca
Chorus is a leading, global aviation solutions provider and asset manager, focused on regional aviation. Our principal subsidiaries are: Falko Regional Aircraft, the leading pure play regional aircraft asset manager and lessor, managing investments on behalf of third-party fund investors; Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; and Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines. Together, Chorus' subsidiaries provide services that encompass every stage of a regional aircraft's lifecycle, including: aircraft acquisition and leasing; aircraft refurbishment, engineering, modification, repurposing and transition; contract flying; aircraft and component maintenance, disassembly, and parts provisioning; and pilot training.
Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol 'CHR'. Chorus 5.75% Senior Unsecured Debentures due December 31, 2024, 6.00% Convertible Senior Unsecured Debentures due June 30, 2026, and 5.75% Senior Unsecured Debentures due June 30, 2027 trade on the Toronto Stock Exchange under the trading symbols 'CHR.DB.A', 'CHR.DB.B', and 'CHR.DB.C' respectively. www.chorusaviation.com
SOURCE Chorus Aviation Inc.