Five Firm-Ordered Aircraft Will Be Operated By Jazz Aviation Under The Air Canada Express Banner

A subsidiary of Chorus Aviation has signed a firm purchase agreement for five CRJ900 aircraft. The order also includes purchase rights for an additional five CRJ900 aircraft. Once delivered, the five firm-ordered aircraft will be operated by Jazz Aviation LP ("Jazz"), also a subsidiary of Chorus, under the Air Canada Express banner.

Based on the list price of the CRJ900 aircraft, the firm order is valued at approximately $229 million and could increase to $467 million, should Chorus exercise all its purchase rights.

"The addition of these new CRJ900 aircraft will continue Jazz's fleet renewal and growth program that began in 2011, and provide unit operating costs that are amongst the lowest of any regional aircraft," said Joseph Randell, President and Chief Executive Officer, Chorus. "These efficient aircraft are an important component of our cost reduction plans and will be an outstanding complement to our exclusive fleet of Bombardier turboprops and regional jets."

"Ensuring passenger comfort while maintaining cost efficiencies is a top priority for us, and the CRJ900 aircraft allows us to achieve both," said Colin Copp, President, Jazz. "To support Air Canada's new fleet standard, the new 76-seat aircraft will be configured with three classes -- business, preferred economy and economy."

Additionally, with Bombardier's assistance, Jazz will reconfigure its current 16 CRJ705 aircraft into CRJ900 aircraft with 76 seats. Jazz will also reconfigure 21 Q400 turboprops currently in its fleet with an additional four seats to increase each aircraft's passenger capacity to 78. All 37 aircraft are operated under the Air Canada Express banner.

(Source: Bombardier news release. Image from file)

FMI: www.bombardier.com