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 diversification."
"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 Aviation™."
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 2014.
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,
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.
About Chorus
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.