HALIFAX and FORT LAUDERDALE, FL, Dec. 13, 2013 /CNW/ - Chorus Aviation
Inc. ("Chorus") (TSX: CHR.B CHR.A CHR.DB) and GA Telesis, LLC ("GA Telesis") today announced that they have
signed a Letter of Intent ("LOI") to form a joint venture to provide
supply chain solutions, including component and spare parts support, to
Bombardier Q400, DHC Dash 8, and CRJ aircraft operators and
maintenance, repair and overhaul (MRO) providers. The joint venture
will leverage the considerable expertise of the two companies to form a
world-class inventory support provider focused on regional aircraft
operators. The business will initially focus on the Q400, and the
parties expect to expand the joint venture's services and offerings to
include other regional aircraft types.
"Our roots in aviation date back to the 1930s and today we are the
world's largest Dash 8 operator," said Joseph Randell, President and
Chief Executive Officer, Chorus. "This collaboration leverages our
unmatched experience in regional services and GA Telesis's leadership
in inventory asset management to form a world-class service provider.
As we continue to evolve with the industry, we believe this venture
will provide Chorus a solid platform for future expansion and
"The addition of a dedicated regional aircraft support company will
further enhance our world-class portfolio of service offerings to the
aviation industry," said Abdol Moabery, President and Chief Executive
Officer, GA Telesis. "Our decision to align ourselves with Chorus was
clear given their extensive experience operating Dash 8 and Q400
aircraft," he added. Mr. Moabery concluded that "this transaction
further demonstrates GA Telesis's commitment to Intelligently Defining
The LOI is subject to a number of conditions, including entering into a
definitive agreement which is targeted to occur in the first quarter of
Certain statements in this news release may contain statements which are
forward-looking. 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 Chorus' relationship with Air Canada, 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, leverage and restructure
covenants in future indebtedness, dilution of Chorus shareholders,
uncertainty of dividend payments, managing growth, changes in laws,
adverse regulatory developments or proceedings, pending and future
litigation and actions by third parties. There are no assurances that
Chorus will enter into or implement new CPA amendments with Air Canada.
The forward-looking statements contained in this discussion represent
Chorus's expectations as of December 13, 2013, and are subject to
change after such date. However, Chorus disclaims 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.
Chorus Aviation Inc. was incorporated on September 27, 2010, and is a
dividend-paying holding company which owns Jazz Aviation LP and Chorus
Leasing III Inc.
Chorus is traded on the Toronto Stock Exchange under the trading symbols
of CHR.A, CHR.B and CHR.DB.
For more information, visit www.chorusaviation.ca.
About GA Telesis
GA Telesis, LLC is a worldwide leader in providing support services to
the commercial and defense aerospace industries. With financial, supply
chain, component and heavy jet engine MRO businesses spanning the
globe, GA Telesis is recognized as a pioneering leader in
solutions-based services in its sector. As an innovator, GA Telesis is
one of the few independent companies in the world capable of providing
a total-support solution to its customers from its front door, with
several fully integrated operations throughout North America, Europe
and Asia. GA Telesis also provides leasing and asset management
services and maintains an extensive portfolio of leased assets
exceeding $1 billion in value.
For more information, visit www.gatelesis.com.
SOURCE: Chorus Aviation Inc.
For further information:
Chorus Media Contacts:
Manon Stuart Halifax, Nova Scotia (902) 873-5054 email@example.com
Debra Williams Toronto, Ontario (905) 671-7769 firstname.lastname@example.org
GA Telesis Media Contacts:
Rebecca Longo Fort Lauderdale, FL (954) 958-1335 email@example.com