Chorus Aviation Announces Agreement to Acquire Elisen & Associates Inc. Français
Founded in 1997 by Stephane Durand and Taif Rahman, Elisen has built a strong reputation for its work on complex engineering projects spanning commercial, business and rotary aircraft modifications, defence projects and sustainable aviation development. Elisen's projects include support and development work on the Airbus A220, Bell helicopters and Bombardier, Gulfstream and Lear special mission aircraft, among others. Mr. Durand and Mr. Rahman will continue to lead Elisen following the closing of the transaction.
"Elisen is a leading engineering firm located at the core of Montreal's aerospace community. Acquiring Elisen will position us to grow our defence and specialized MRO capabilities by adding valuable expertise and industry relationships," said Colin Copp, President and Chief Executive Officer, Chorus. "We are delighted that Stephane and Taif will continue to lead Elisen and look forward to welcoming the entire Elisen team."
"We have had expressions of interest from several companies over the years, but none provides the alignment of culture, values and strategic vision that Chorus offers," stated Elisen Co-President, Mr. Rahman.
"We are excited to work with the Chorus team to pursue a broader set of opportunities together," added Elisen Co-President, Mr. Durand.
The transaction is expected to close prior to the end of this year, conditional upon the completion of certain regulatory notifications and the satisfaction of other customary conditions to closing. The transaction will be paid for using available cash and is not expected to have a material impact on Chorus' consolidated revenue, earnings or balance sheet.
Forward-Looking Information
This news release contains forward-looking information and statements within the meaning of applicable securities laws (collectively, " 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. All information and statements other than statements of historical fact are forward-looking and by their nature, are based on various underlying assumptions and expectations that are subject to known and unknown risks, uncertainties and other factors that may cause actual future results, performance or achievements to differ materially from those indicated in the forward-looking information. As a result, there can be no assurance that the forward-looking information included in this news release will prove to be accurate or correct.
Examples of forward-looking information in this news release include statements and expectations regarding the expected closing of the transaction and the anticipated benefits of the transaction to Chorus. Actual results may differ materially from those anticipated in forward-looking information for a number of reasons including: the failure to satisfy any of the conditions precedent to the closing of the transaction; the impact of the transaction on Elisen's relationships with employees, customers and suppliers; changes in the aviation industry and general economic conditions; and the risk factors described in Chorus' public disclosure record available under Chorus' profile on SEDAR+ at www.sedarplus.ca.
The forward-looking information contained in this news release represents Chorus' expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and is subject to change after such date. Chorus disclaims any intention or obligation to update or revise any forward-looking information as a result of new information, subsequent events or otherwise, except as required by applicable securities laws. Readers are cautioned that the foregoing factors and risks are not exhaustive.
About Chorus Aviation Inc.
Chorus is a holding company which owns the following principal operating subsidiaries: 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 an aircraft's lifecycle, including: contract flying, aircraft refurbishment, engineering, modification, repurposing and transition; aircraft and component maintenance, disassembly, and parts provisioning; aircraft acquisition and leasing; 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' 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.B' and 'CHR.DB.C' respectively. For further information on Chorus, please visit www.chorusaviation.com.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
18 hours ago
- Cision Canada
100 Days to 8th CIIE: Preps Harden as Global Exhibitors Eye Business Potential in China Français
SHANGHAI, /CNW/ -- Facing the complex international landscape and mounting challenges, China International Import Expo (CIIE) consistently acts as a platform for global business exchange. With only 100 days to go, the 8 th CIIE is set to take place in Shanghai from November 5 to 10. As of now, over 50 countries and international organizations have confirmed their participation in the Country Pavilion. Sweden and the United Arab Emirates will serve as guest countries of honor at the 8 th CIIE, while Kyrgyzstan will make its debut. To help global enterprises across sectors better integrate into the Chinese market, the Corporate Pavilion features six major exhibition areas—encompassing Medical Equipment and Healthcare Products, Automobile and Smart Mobility, Intelligent Industry & Information Technology, Consumer Goods, Food and Agriculture Products, and Trade in Services—and will continue hosting its Innovation Incubation Special Section. Driven by strong interest and participation from overseas companies, total booked exhibition space has surpassed 330,000 square meters, with 170 companies and 26 institutions becoming eight-time full-attendance exhibitors. Notably, this year's Corporate Pavilion introduces four fresh innovations, demonstrating its vibrant energy and vast collaboration opportunities for participants. A special section for the least-developed countries products will launch alongside an upgraded Africa products section, helping 53 diplomatic African partners leverage zero-tariff treatment to enter the Chinese market. A new section for overseas provinces and cities stands as another highlight. Focused on global premieres, a dedicated trail for exploring debuts and a section amplifying exhibitors' presence are introduced. A cross-border e-commerce platform will be established for specialized promotion, matching, and livestreaming. The 8 th Hongqiao International Economic Forum (HQF) will convene under the theme "Opening-up for New Opportunities, Cooperation for a Shared Future". Alongside the release of the World Openness Report 2025 and the latest World Openness Index, the HQF will host over 20 parallel sessions on revitalizing multilateral cooperation, empowering digital intelligence, green and sustainable development, and a more open China. Side events will retain previous categories, while people-to-people exchange activities will add a new "Charming Friends of City" zone, inviting international friendly provinces and cities to set up their booths.
Cision Canada
a day ago
- Cision Canada
KEENON Debuts First Bipedal Humanoid Service Robot at WAIC, Showcasing Role-Specific Embodied AI Solutions
SHANGHAI, July 26, 2025 /CNW/ -- The world premiere of KEENON Robotics' bipedal humanoid service robot, XMAN-F1, takes center stage at the World Artificial Intelligence Conference (WAIC) 2025 in Shanghai from July 26 to 29, where the pioneer in embodied intelligence showcases its latest innovations on the global stage for breakthrough AI advancements. Transforming its showground into an Embodied Service Experience Hub, KEENON immerses visitors in three interactive scenarios—medical station, lounge bar, and performance space—highlighting how embodied AI solution is actively reshaping future lifestyles and industrial ecosystems. At the event, XMAN-F1 emerges as the core interactive demonstration, showcasing human-like mobility and precision in service tasks across diverse scenarios. From preparing popcorn to mixing personalized chilled beverages such as Sprite or Coke with adjustable ice levels, the robot demonstrates remarkable environmental adaptability and task execution. Scheduled stage appearances feature XMAN-F1 autonomously delivering digital presentations and product demos, powered by multimodal interaction and large language model technologies. Its fluid movements and naturalistic gestures establish it as the primary focus of attention, with visitors gathering to witness its engagement live. The demonstration spotlights further multi-robot collaboration in specialized environments. At the medical station, the humanoid XMAN-F1 partners with logistics robot M104 to create a closed-loop smart healthcare solution. The bar area features a highlight collaboration with Johnnie Walker Blue Label—the world's leading premium whisky—where robotic bartenders work alongside delivery robot T10 to craft and serve bespoke beverages. The seamless multi-robot integration not only enhances operational efficiency but signals the dawn of robotic system interoperability, moving far beyond single-task automation. According to IDC's latest report, KEENON leads the commercial service robot sector with 22.7% of global shipments and holds a definitive 40.4% share in food delivery robotics. At WAIC 2025, the company reinforces its market leadership while presenting its ecosystem-based strategy for cross-scenario embodied intelligence solutions. Looking ahead, KEENON will continue driving innovation in embodied intelligence, combining cutting-edge R&D and global partnerships to unlock the full potential of 'Robotics+' applications worldwide.
Cision Canada
2 days ago
- Cision Canada
CGTN: How China's economy remains vibrant despite U.S. tariff war
BEIJING, July 25, 2025 /CNW/ -- With Chinese Vice Premier He Lifeng to hold economic and trade talks with the United States in Sweden later this month, the strength and resilience of the Chinese economy is in the limelight once again. This round of talks, mutually agreed upon by both nations, is not only a diplomatic engagement but also a testament to China's enduring economic vitality in a complex international environment. Recent statistics underscore the robustness of China's economy. In the first half of 2025, the GDP grew by an impressive 5.3 percent year on year, surpassing market expectations despite global headwinds. This number reflects more than temporary growth; it exhibits the structural resilience and adaptability of an economy that continues to evolve and upgrade. Domestic demand emerged as the cornerstone of growth, contributing 68.8 percent to GDP expansion in this period. Initiatives such as large-scale equipment upgrades and consumer goods trade-in programs have effectively stimulated spending, cushioning China's economy from external shocks. In the first five months of 2025 alone, China's consumer goods trade-in program generated 1.1 trillion yuan ($153.1 billion) in sales, surpassing the figure for entire 2024. Boosted by the program, China's retail sales of consumer goods grew 5 percent year on year in the past six months – 0.4 percentage point faster than the growth recorded in the first quarter. While external uncertainties have introduced some pressure, China's trade diversification and the steady output of high-tech manufacturing and service industries have provided strong support to the economy. Though China's trade with some Western countries declined, its trade with Belt and Road partners, ASEAN countries, the European Union, and African nations saw respective increases of 4.7 percent, 9.6 percent, 3.5 percent, and 14.4 percent in the first half of 2025. This expansion of trade relationships has helped China reduce its reliance on any one market, lessening the impact of some Western economies' protectionist policies. China's resilience reverberates beyond its borders. As a crucial driver of global growth, China's steady economic performance boosts international market confidence and provides a stabilizing influence amid global uncertainties. Through continued focus on quality growth and opening up, China offers the international community a reliable engine for shared prosperity. A recent report from the U.S.-China Business Council indicates that 82 percent of American companies operating in China turned a profit in 2024. Though many cited the uncertainties in China-U.S. relations and tariffs as their main worry, the Chinese market continues to be crucial for them. Trade tensions pose obstacles, yet they have not crippled the resilience in the Chinese economy. The upcoming Beijing-Washington talks in Sweden demonstrate China's willingness to tackle differences via negotiations. While obstacles remain, China's ability to sustain growth, adapt to changing global landscapes, and engage constructively with international partners signals a future of shared opportunities and mutual advancement.
