Tag Archives: 257

Chorus Aviation reports on its profitable first quarter

Chorus Aviation (Halifax), the parent of Jazz Aviation (Air Canada Express) (Halifax), reported the following for the first quarter:

For the first quarter 2014, Chorus Aviation reported EBITDA of $47.3 million compared to $34.2 million in the same quarter 2013, an increase of $13.1 million. Operating income was $31.2 million, $10.4 million higher than the same period 2013. Adjusted net income of $20.3 million or $0.17 per basic share, was up by $5.6 million or $0.05 per basic share over first quarter 2013. Chorus incurred $2.8 million in voluntary employee severance in the first quarter versus $5.7 million in the same period in 2013. Chorus has invested $12.7 million since the inception of this cost savings program in the first quarter of 2013.

Net income for the first quarter of 2014 was $5.6 million or $0.05 per basic share, a decrease of $3.6 million from $9.2 million. On an adjusted basis, net income was $20.3 million or $0.17 per basic share, an increase of $5.6 million from $14.7 million. A reconciliation of these non-GAAP measures to their nearest GAAP measure is provided in Chorus’ Management’s Discussion and Analysis dated May 14, 2014.

Chorus Aviation is a dividend-paying holding company which owns Jazz Aviation LP and a number of other companies involved in aviation related businesses.

Read the full report: CLICK HERE

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Bombardier DHC-8-311 (Q300) C-GABP (msn 257) of Jazz Aviation (Air Canada Express) touches down at Seattle-Tacoma International Airport (SEA).

Jazz Aviation: AG Slide Show

The end of Air Jamaica is near

Air Jamaica (Kingston) may be shut down for good on or around July 1 if a proposed deal with Caribbean Airlines (Port of Spain) to take over the JM routes can be signed before March 31. The non-binding agreement, if signed, will make Caribbean the exclusive flag carrier of Jamaica. Caribbean will take over the JM routes on or around July 1.

New link:

www.jamaicaobserver.com/business/Caribbean-airlines_7433859

Copyright Photo: Antony J. Best. Retired in October 2007, Airbus A340-313X 6Y-JMP (msn 257) displays the colorful 1996 livery on final approach to London (Heathrow). Watch for a special AG salute to JM in the coming months.