HALIFAX, Oct. 6, 2015 /CNW/ - Rick Flynn, Executive Vice President and Chief Corporate Development Officer, Chorus Aviation Inc. (see August 12, 2015 news release) ('Chorus') (TSX: CHR.B CHR.A) today announced the appointment of Steven Ridolfi as Senior Vice President, Strategic Investments, Mergers and Acquisitions, effective October 1, 2015.
Mr. Ridolfi will be based in Toronto, Ontario and will join Mr. Flynn's team that is focused on developing and executing on strategic plans through: growth initiatives that diversify the current group of Chorus subsidiaries; acquisitions in strategic areas that leverage Chorus' expertise; and establishing and managing relationships with strategic partners in identified growth areas.
"Our renewed and energized concentration to strengthen, grow and diversify the Chorus group of companies is taking shape," said Mr. Flynn. "Steve's worldwide relationships and extensive experience in the regional airline sector are attributes that we will leverage to achieve future success. I'm confident the creation of this new division with the tremendous bench strength of our team of seasoned aviation executives will deliver additional value to our investors and stakeholders."
Mr. Steven Ridolfi previously served as Senior Vice President of Strategy, Mergers and Acquisitions at Bombardier Inc. Prior to that Mr. Ridolfi was the President of Business Aircraft and President, Regional Aircraft also at Bombardier. Mr. Ridolfi had a long and distinguished career in aerospace dating back to 1982 when he joined what was then de Havilland Inc. as a structural dynamics engineer. Mr. Ridolfi has held various leadership positions with increasing scope and responsibilities in the regional aircraft market including positions in airline analysis, marketing, research and development, product planning, aircraft programs and customer support. Mr. Ridolfi holds a Bachelor of Science (Honours) in Engineering Physics from Queen's University, and has completed the Program for Management Development at Harvard University.
Forward Looking Statements
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, the airline industry and in particular the international operation of airlines in developing countries and areas of unrest, airline leasing, energy prices, general industry, market, credit, and economic conditions, (including a severe and prolonged economic downturn which could result in reduced payments under the amended CPA), competition, insurance issues and costs, supply issues, war, terrorist attacks, aircraft incidents, epidemic diseases, environmental factors, acts of God, changes in demand due to the seasonal nature of the business, the ability of Chorus to reduce operating costs and employee counts, the ability of Chorus to secure financing, the ability of Chorus to renew and or replace existing contracts, employee relations, labour negotiations or disputes, pension issues, currency exchange and interest rates, leverage and restructure covenants in future indebtedness, uncertainty of dividend payments, managing growth, changes in laws, adverse regulatory developments or proceedings in countries in which Chorus and its subsidiaries operate or will operate, pending and future litigation and actions by third parties. For a discussion of certain risks, please refer to Section 21 – Risk Factors in the second quarter 2015 MD&A. The forward-looking statements contained in this discussion represent Chorus' expectations as of October 5, 2015, 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 is traded on the Toronto Stock Exchange under the trading symbols of CHR.A and CHR.B.
Headquartered in Halifax, Nova Scotia, Chorus was incorporated on September 27, 2010 and is a dividend-paying holding company with various interests including Jazz Aviation Holdings Inc. and Chorus Aviation Holdings II Inc.
SOURCE Chorus Aviation Inc.