Latest news with #RAL
Axios
08-05-2025
- Axios
Scammers prey on Richmonders with missing pets
A new scam is targeting local pet owners who've lost their pet and posted online about it, the Richmond SPCA tells Axios. Why it matters: This might be the cruelest scam in history. How it works: Fraudsters are finding online missing pet posts and calling the owners to tell them their pet has been found, but is injured, Richmond SPCA spokesperson Tabitha Treloar tells Axios. They're using spoofed phone numbers so the call looks like it's coming from the Richmond SPCA. The scammer, impersonating someone from the shelter, says the injured fur baby needs urgent surgery. And the shelter, the fraudster says, needs immediate payment via Venmo, Zelle or another payment platform to cover the cost, which is usually thousands of dollars. What they're saying: "It's really devastating for pet guardians to be targeted this way — people are understandably vulnerable when a pet is missing," Treloar says. Threat level: It's not just the Richmond SPCA, which has gotten at least four calls from locals targeted by the lost pet scam in recent weeks. The Richmond Animal League had reports of two identical incidents last month, RAL spokesperson Allana Maiden tells Axios. Richmond Animal Care & Control posted about three incidents in which its number was spoofed for a similar scam in February. And it's happening nationwide, according to a post from Professional Pet Tracker, a Virginia-based pet finding service. Zoom in: In one of the incidents at RAL last month, a couple was told they needed to pay $2,000 to cover surgery for their injured and missing cat, Maiden says. They negotiated to pay just over $1,000 up front and the rest when they picked up their cat. When they showed up at the Chesterfield shelter to bring their kitty home, RAL had to break the news: they'd been scammed. And their cat was still missing. RAL never heard back from them to find out if their bank was able to reverse the charges, or if they found their cat. The bottom line: No shelter would ask for money to treat a pet over the phone, per their posts.
The Spinoff
08-05-2025
- Business
- The Spinoff
Who really owns the maunga? The unfinished business of Mount Ruapehu
The collapse of Ruapehu Alpine Lifts has exposed a deeper tension at the heart of the maunga – who truly holds authority over its future: ski operators, the Crown or the iwi who consider it an ancestor? More than just a ski field, Mount Ruapehu is a living tūpuna. To iwi like Ngāti Tūwharetoa, Ngāti Rangi, Ngāti Hāua and others who whakapapa to the central plateau, the maunga is a sacred taonga, gifted under a tuku arrangement in 1886 – not to give it away, but to create a partnership. A partnership that, over 130 years later, still hasn't been honoured. Now, the maunga is at the heart of a bitter and drawn-out struggle – one involving bankruptcy, broken promises, government bailouts, Treaty breaches, and a future for the ski fields that hangs on contested ground. So… what happened? In 2022, Ruapehu Alpine Lifts (RAL) – the not-for-profit that had run Whakapapa and Tūroa ski fields for decades – collapsed under the weight of Covid lockdowns, poor snow seasons, ballooning debt and a $14m gondola project that never paid off. At the time, RAL owed over $40m to creditors – much of it to the Crown. In response, the government stepped in with bailout after bailout – around $50m since 2018 – buying time to find new operators for the two ski fields. The rescue attempts were dubbed by regional development minister Shane Jones as 'the last chance saloon'. Now, both fields have been carved up and handed to new owners: Tūroa to tourism outfit Pure Tūroa, and Whakapapa to Whakapapa Holdings Ltd (WHL), a new company led by former RAL boss David Mazey. Both were granted 10-year concessions by the Department of Conservation (DOC) to operate within Tongariro National Park – far short of the 60-year maximum term. Why? Because the deeper story is about more than just snow sports – it's about unresolved Treaty settlements and the rangatiratanga of mana whenua. What do local iwi think about it all? For local iwi, Ruapehu is not just a mountain – it's an ancestor. That worldview is fundamental to Ngāti Tūwharetoa, Ngāti Rangi, Ngāti Hāua, and Te Korowai o Te Wainuiārua. It's why iwi have long challenged how the maunga is used – not only for environmental reasons, but because they say they were never truly part of the decision-making process. In 1886, Horonuku Te Heuheu IV of Ngāti Tūwharetoa initiated a tuku – a conditional transfer of the mountain peaks to the Crown – with the expectation of joint guardianship. However, that vision of partnership was never realised. In 2013, the Waitangi Tribunal confirmed the tuku was misinterpreted as a 'gift'. So when the government started selling off the ski field leases, iwi were, once again, left on the sidelines. Ariki Sir Tumu Te Heuheu of Ngāti Tūwharetoa didn't mince words in his April 2025 letter to the prime minister: 'The government's tactics of creating division between Ngāti Tūwharetoa entities as well as inappropriate disruption between us and our whanaunga iwi is unacceptable and will not be tolerated.' He said the spirit of the tuku remained unfulfilled and he's not alone in that critique. Ngāti Rangi, via its trust Ngā Waihua o Paerangi, called for a rethink of ski field activity altogether, pointing to the sacredness of the Whangaehu River catchment, which begins on the maunga. Ngāti Hāua, on the other hand, has focused on partnership and negotiated directly with local councils, striking a relationship agreement with Ruapehu District Council that emphasises a Tiriti-based, face-to-face approach to decision-making. Where does the government sit now? With the Crown having now exited direct involvement in operating the ski fields, iwi leaders argue that it's walking away from its obligations – including the massive remediation bill that will fall to taxpayers if ski operations collapse again. DOC's own books show a potential $88m liability if the maunga must be returned to its natural state. Basically, the maunga would need to be restored to its pristine condition, free of any ski infrastructure. In effect, the Crown has offloaded the business risk – but not its moral or Treaty responsibilities. Minister of conservation Tama Potaka has said the 10-year concessions are 'short enough to allow Treaty negotiations to play out.' However, iwi want more than a delay tactic – they want actual, binding, enduring partnership in managing the maunga. What's next for iwi? Well, it depends on which iwi you're talking about. Ngāti Tūwharetoa has signalled it will not support further development without renewed partnership talks. They are demanding direct dialogue with the prime minister. Legal counsel for the iwi has detailed multiple breaches of the Crown's statutory and Treaty obligations to DOC, advising they will take these matters before the courts. Ngāti Rangi continues to oppose ski operations on cultural and environmental grounds, while focusing on upholding environmental protections and kaitiakitanga. Ngāti Hāua is pushing for greater input into concession terms and environmental safeguards. In a proactive approach, a collective of four iwi – Ngāti Tūwharetoa, Ngāti Hāua, Ngāti Rangi and Te Korowai o Te Wainuiārua – had proposed taking over the management of RAL to have a more active role in the guardianship of the maunga. This reflects a desire for iwi-led management that aligns with their cultural values and responsibilities – similar to what's been established in places like Te Urewera or Whanganui River. What's clear is that any long-term solution for Ruapehu must reckon with iwi rights, not just ski field economics. And what about the skiers? Thousands of life pass holders were left out in the cold after RAL's liquidation. Pure Tūroa has tried to win them back with discounted season passes. Whakapapa Holdings has announced free passes for kids under 10. However, while ski businesses hustle to rebuild customer trust, the real question remains: who gets to decide the future of the maunga? This is Public Interest Journalism funded by NZ On Air.
Cision Canada
06-05-2025
- Business
- Cision Canada
Chorus Aviation Inc. Announces First Quarter 2025 Financial Results Français
Financial Highlights: Net income of $18.9 million compared to $12.3 million for Q1 2024. Net income from continuing operations 1 of $18.9 million compared to $5.4 million for Q1 2024. Adjusted Earnings available to Common Shareholders 2 of $15.4 million compared to $3.7 million for Q1 2024 was due to the positive impacts of the sale of the RAL business and improved financial results primarily related to increased parts sales, contract flying, MRO and other revenue. Adjusted Earnings available to Common Shareholders of $0.57 per Common Share, basic, 2 compared to $0.13 for Q1 2024. Adjusted EBITDA 2 of $56.9 million compared to $54.0 million for Q1 2024. Free Cash Flow 2 of $40.6 million compared to $30.7 million for Q1 2024. Leverage Ratio 2 of 1.6 compared to 1.4 at December 31, 2024. The increase was a result of additional cash held at December 31, 2024 due to a $58.9 million prepayment of revenue related to January 2025. Parts sales, contract flying, MRO and other revenue of $39.1 million compared to $28.5 million for Q1 2024 primarily driven by Voyageur. HALIFAX, NS, May 6, 2025 /CNW/ - Chorus Aviation Inc. ('Chorus') (TSX: CHR) today announced its first quarter 2025 financial results. "Consistent with our plan, the first quarter results show significant improvements resulting from our sale of the regional aircraft leasing (RAL) business," said Colin Copp, President and Chief Executive Officer, Chorus. "The results also reflect strong growth at Voyageur, primarily driven by part sales, consistent earnings from Jazz's capacity purchase agreement (CPA) with Air Canada as well as our corporate cost reductions." "At the same time, we took steps to deliver on our commitment to return capital to shareholders through a substantial issuer bid (SIB) for $25.0 million in value of Chorus' shares," added Mr. Copp. "This initiative is in addition to $53.0 million in share buy-backs since we launched our normal course issuer bid (NCIB) program in 2022." "These positive outcomes and our focus on returning capital to shareholders reflect the increased strength of our balance sheet, and a commitment to enhance value for our shareholders," said Mr. Copp. __________________________ 1 The results of discontinued operations (RAL segment) have been excluded from prior period figures to conform to current period presentation. All amounts presented and discussed in this press release are from continuing operations unless otherwise noted. 2 These are non-GAAP financial measures or non-GAAP ratios that are not recognized measures for financial statement presentation under GAAP. As such, they do not have standardized meanings, may not be comparable to similar measures presented by other issuers and should not be considered a substitute for or superior to GAAP results. Refer to "Non-GAAP Financial Measures" for further information. First Quarter Summary In the first quarter of 2025, Chorus reported Adjusted EBITDA from continuing operations of $56.9 million, an increase of $2.8 million compared to the first quarter of 2024 primarily due to: an increase in Voyageur's parts sales, contract flying and MRO activity; and a decrease in general administrative expenses primarily attributable to lower overhead costs; partially offset by a decrease in capitalization of major maintenance overhauls on owned aircraft of $1.5 million; and a decrease in aircraft leasing revenue under the CPA of $0.7 million primarily due to a change in lease rates on certain aircraft partially offset by a higher US dollar exchange rate. Adjusted Net Income from continuing operations was $15.4 million for the quarter, an increase of $2.8 million compared to the first quarter of 2024 primarily due to: a $2.8 million increase in Adjusted EBITDA as previously described; and a decrease in net interest costs of $5.5 million primarily related to the repayment of the Series A Debentures at maturity, the partial repurchase of the Series B Debentures and Series C Debentures and the absence of any draw in the current quarter under the Operating Credit Facility; partially offset by an increase of $3.5 million in income tax expense; an increase in depreciation expense of $1.1 million primarily attributable to capital expenditures; and a negative change in foreign exchange of $1.0 million. Net income from continuing operations was $18.9 million, an increase of $13.5 million compared to the first quarter of 2024 primarily due to: the previously noted increase in Adjusted Net Income of $2.8 million; and a positive change in net unrealized foreign exchange of $10.7 million. Adjusted Earnings available to Common Shareholders from continuing operations was $15.4 million for the quarter, an increase of $11.7 million compared to the first quarter of 2024 primarily due to: the previously noted increase in Adjusted Net Income of $2.8 million; and the elimination of Preferred Share dividends of $8.8 million due to the redemption of the Preferred Shares. Consolidated Financial Analysis This section provides detailed information and analysis about Chorus' performance from continuing operations for the three months ended March 31, 2025 compared to the three months ended March 31, 2024. (unaudited) (expressed in thousands of Canadian dollars) Three months ended March 31, 2025 2024 Change Change $ $ $ % (revised) (1) Operating revenue 348,129 358,594 (10,465) (2.9) Operating expenses 318,419 330,632 (12,213) (3.7) Operating income 29,710 27,962 1,748 6.3 Net interest expense (3,744) (9,291) 5,547 (59.7) Foreign exchange gain (loss) 152 (9,550) 9,702 (101.6) Gain on property and equipment 1 — 1 100.0 Income before income tax 26,119 9,121 16,998 186.4 Income tax expense (7,186) (3,711) (3,475) 93.6 Net income from continuing operations 18,933 5,410 13,523 250.0 Net income from discontinued operations, net of taxes — 6,900 (6,900) (100.0) Net income 18,933 12,310 6,623 53.8 Net income attributable to non-controlling interest — 3,491 (3,491) (100.0) Net income attributable to Shareholders 18,933 8,819 10,114 114.7 Adjusted EBITDA (2) 56,861 54,013 2,848 5.3 Adjusted EBT (2) 22,568 16,279 6,289 38.6 Adjusted Net Income (2) 15,382 12,568 2,814 22.4 (1) The results of discontinued operations (RAL segment) have been excluded from prior period figures in accordance with IFRS 5 to conform to current period presentation. All amounts presented and discussed in this release are from continuing operations unless otherwise noted. (2) These are non-GAAP financial measures that are not recognized measures for financial statement presentation under GAAP. As such, they do not have standardized meanings, may not be comparable to similar measures presented by other issuers and should not be considered a substitute for or superior to GAAP results. Outlook (See cautionary statement regarding forward-looking information below.) The discussion that follows includes forward-looking information. This outlook provides current expectations for the Jazz business in 2025 and 2026. This information may not be appropriate for other purposes. The CPA provides a Fixed Margin to Jazz regardless of flying levels; therefore, any variations in flying are not expected to have any impact on Jazz's earnings. In addition, Jazz receives compensation for aircraft leased under the CPA that generates predictable Free Cash Flows. Jazz aircraft have amortizing debt that will be fully paid-off at the end of the original lease term under the CPA. At the end of each lease, Jazz will either extend the lease, sell or part-out each aircraft. Subsequent aircraft leases will continue to produce predictable Free Cash Flow at lower rates as the aircraft will be unencumbered. (1) The forecast uses a foreign exchange rate of 1.4000 for 2025 and 2026 to translate USD to CAD. (2) Includes lease rates for 12 Dash 8-400's for 2026 with contracted lease extensions to 2030. (3) The Fixed Margin will decrease to no less than $59.6 million in 2025 and no less than $43.9 million in 2026 with no further changes thereafter. (4) Leases on three Dash 8-400s expire at the end of 2025 and on six Dash 8-400s that expire in mid-2026. Chorus plans to sell these aircraft. Portfolio of Aircraft Leasing under the CPA Current fleet of 48 wholly-owned aircraft and five spare engines Current net book value of $778.0 million Future contracted lease revenue US $362.2 million 1 Current weighted average fleet age of 8.7 years 2 Current weighted average remaining lease term of 4.6 years 2 Long-term debt of $324.1 million (US $225.4 million) 100% of debt has a fixed rate of interest Current weighted average cost of borrowing of 3.31% 1. The estimates are based on agreed lease rates in the CPA. 2. Fleet age and remaining lease term is calculated based on the weighted average of the aircraft net book value. The actual and forecasted Covered Aircraft under the CPA for the years 2025 to 2026 are as follows: (1) The 15 CRJ200s are currently non-operational under the CPA. (2) After 2026, the 39 owned aircraft leased under the CPA have lease expiry dates from 2027 to 2033. Air Canada will determine the composition of the Covered Aircraft fleet on the condition that the fleet must have a minimum of 80 aircraft with 75-78 seats. As leases in respect of owned aircraft mature, the minimum 80 Covered Aircraft fleet will be composed of owned aircraft with lease extensions and/or other Covered Aircraft sourced by Air Canada. (3) Lease expiry dates for owned aircraft are as follows: Dash 8-400s: six expiries in November 2027, seven expiries in 2028 and 12 expiries in 2030; and for CRJ900s: five in 2028, eight in 2032 and one in 2033. Jazz has started the initial phase of an extensive cabin refurbishment program for aircraft operated under the Air Canada Express brand. This refurbishment program includes upgraded Wi-Fi connectivity, larger overhead storage bins, new lightweight seats, in-seat power supply, and refreshed cabin interiors for the E-175s and CRJ900s. In addition, a select number of Dash 8-400s will receive Wi-Fi connectivity for Toronto Billy Bishop service along with Jazz's previous announcement in May 2024 that its Dash 8-400 fleet would receive new lightweight seats as part of an emission reductions initiative. All 39 owned aircraft leased under the CPA post 2026 are included in this passenger cabin refurbishment program with all costs associated with the program to be paid by Air Canada. Capital Expenditures Capital expenditures in 2025 are expected to be as follows: (1) The 2025 plan includes between $3.0 million to $7.0 million of costs that are expected to be included in and recovered through the Controllable Costs. Use of Defined Terms Capitalized terms used but not defined in this news release have the meanings given to them in management's discussion and analysis of results of operations and financial condition dated May 6, 2025 (the"MD&A"), which is available on Chorus' website ( and under Chorus' profile on SEDAR+ ( In this news release, the term "shareholders" refers only to holders of Common Shares. Investor Conference Call / Audio Webcast Chorus will hold an analyst call at 9:00 AM ET on Wednesday, May 7, 2025, to discuss the first quarter 2025 financial results. The call may be accessed by dialing 1-888-699-1199. The call will be simultaneously audio webcast via: This is a listen-in only audio webcast. The conference call webcast will be archived on Chorus' website at under Investors > Reports. A playback of the call can also be accessed until midnight ET, May 14, 2025, by dialing toll-free 1-888-660-6345 and using passcode 88823 # (pound key). NON-GAAP FINANCIAL MEASURES This news release references several non-GAAP financial measures and ratios to supplement the analysis of Chorus' results. Chorus uses these non-GAAP measures to evaluate and assess performance. These non-GAAP measures are generally numerical measures of Chorus' financial performance, financial position, or cash flows, that include or exclude amounts from the most comparable GAAP measure. As such, these measures are not recognized for financial statement presentation under GAAP, do not have standardized meanings, may not be comparable to similar measures presented by other entities, and should not be considered a substitute for or superior to GAAP results. For further information on non-GAAP measures used in this news release, please refer to Section 17 (Non-GAAP Financial Measures) of the MD&A, which is available on Chorus' website ( and under Chorus' profile on SEDAR+ ( Reconciliations of non-GAAP measures to their nearest GAAP measures are provided below. Adjusted Net Income, Adjusted EBT, Adjusted EBITDA (unaudited) (expressed in thousands of Canadian dollars) Three months ended March 31, 2025 $ 2024 $ Change $ (revised) (1) Net income 18,933 12,310 6,623 Less: Net income from discontinued operations, net of taxes — 6,900 (6,900) Net income from continuing operations 18,933 5,410 13,523 Add (Deduct) items to get to Adjusted Net Income Unrealized foreign exchange (gain) loss (3,551) 7,158 (10,709) (3,551) 7,158 (10,709) Adjusted Net Income 15,382 12,568 2,814 Add (Deduct) items to get to Adjusted EBT Income tax expense 7,186 3,711 3,475 Adjusted EBT 22,568 16,279 6,289 Add (Deduct) items to get to Adjusted EBITDA Net interest expense 3,744 9,291 (5,547) Depreciation and amortization excluding impairment 27,151 26,051 1,100 Foreign exchange loss 3,399 2,392 1,007 Gain on disposal of property and equipment (1) — (1) 34,293 37,734 (3,441) Adjusted EBITDA 56,861 54,013 2,848 (1) The results of discontinued operations (RAL segment) have been excluded from prior period figures in accordance with IFRS 5 to conform to current period presentation. All amounts presented and discussed in this release are from continuing operations unless otherwise noted. Adjusted Earnings available to Common Shareholders per Common Share Adjusted Earnings available to Common Shareholders per Common Share is used by Chorus to assess performance and is calculated as Adjusted Net Income less non-controlling interest and Preferred Share dividends declared, excluding the MOIC. (1) The results of discontinued operations (RAL segment) have been excluded from prior period figures in accordance with IFRS 5 to conform to current period presentation. All amounts presented and discussed in this release are from continuing operations unless otherwise noted. Leverage Ratio Leverage Ratio is used by Chorus as a means to measure financial leverage. Leverage Ratio is calculated by dividing Net debt by trailing 12-month Adjusted EBITDA. Management believes Leverage Ratio to be a useful ratio when monitoring and managing debt levels. In addition, as leverage is a measure frequently analyzed for public companies, Chorus has calculated the amount to assist readers in this review. Leverage Ratio should not be construed as a measure of cash flows. Net debt is a key component of capital management for Chorus and provides management with a measure of its net indebtedness. (unaudited) (expressed in thousands of Canadian dollars) March 31, 2025 December 31, 2024 Change $ $ $ (revised) (1) Long-term debt and lease liabilities (including current portion) 418,437 516,379 (97,942) Less: Cash (74,351) (222,216) 147,865 Adjusted Net Debt 344,086 294,163 49,923 Adjusted EBITDA (1) 211,885 209,037 2,848 Leverage Ratio 1.6 1.4 0.2 (1) The results of discontinued operations (RAL segment) have been excluded from prior period figures in accordance with IFRS 5 to conform to current period presentation. All amounts presented and discussed in this release are from continuing operations unless otherwise noted. Free Cash Flow Free Cash Flow is a non-GAAP measure used as an indicator of financial strength and performance. Chorus believes that this measurement is useful as an indicator of its ability to service its debt, meet other ongoing obligations and reinvest in the Corporation and return capital to Common Shareholders. Readers are cautioned that Free Cash Flow does not represent residual cash flow available for discretionary expenditures. Free Cash Flow is defined as cash provided by operating activities less net changes in non-cash balances related to operations, capital expenditures excluding aircraft acquisitions and improvements. Following the sale of the RAL business in December 2024, asset sales are no longer considered part of the ordinary course of Chorus' business. Therefore, net proceeds from asset sales are no longer included in Free Cash Flow. The following table provides a reconciliation of Free Cash Flow to cash flows from operating activities, which is the most comparable financial measure calculated and presented in accordance with GAAP: (1) The results of discontinued operations (RAL segment) have been excluded from prior period figures in accordance with IFRS 5 to conform to current period presentation. All amounts presented and discussed in this release are from continuing operations unless otherwise noted. Adjusted Return on Equity Adjusted Return on Equity is a non-GAAP financial measure used to gauge a corporation's profitability and how efficient it is in generating profits. Adjusted Return on Equity is calculated based on Chorus' Adjusted Net Income less non-controlling interest and Preferred Share dividends declared, excluding the MOIC, divided by Average Shareholders' equity excluding non-controlling interest, Preferred Shares and cash. (1) The results of discontinued operations (RAL segment) have been excluded from prior period figures in accordance with IFRS 5 to conform to current period presentation. All amounts presented and discussed in this release are from continuing operations unless otherwise noted. (2) Adjusted Earnings available to Common Shareholders excludes the MOIC payment in December 2024 of $91.2 million as the Preferred Shares were redeemed early due to the sale of the RAL business. Forward-Looking Information This news release includes 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 the discussion in the Outlook section and statements regarding Chorus' future performance, growth prospects and the ability to return capital to Common Shareholders. Actual results may differ materially from those anticipated in forward-looking information for a number of reasons including: changes in the aviation industry and general economic conditions; the emergence of disputes with contractual counterparties (including under the CPA); a deterioration in Air Canada's financial condition; any default by Chorus under debt covenants; asset impairments; changes in law; litigation; the imposition of tariffs on Canadian exports or imports or adverse changes to existing trade agreements and/or relationships; and the risk factors in Chorus' Annual Information Form dated February 19, 2025, and in Chorus' public disclosure record available under its profile on SEDAR+ at 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 ' and ' respectively. For further information on Chorus, please visit
