CHRRF - Canadian airline holding company Chorus Aviation to sell 8 aircraft for ~$45M
- Canadian airline holding company Chorus Aviation ( OTCPK:CHRRF ) on Monday said its unit would sell 8 aircraft that had previously been on lease for about $45M.
- The sale was executed by the company's unit Falko Regional Aircraft and the net proceeds of approximately $45M would be obtained after debt repayments and estimated tax provisions, Chorus ( OTCPK:CHRRF ) said in a statement .
- "The sale of these Chorus owned aircraft decreases debt and leverage while generating cash flows from trading," said CHRRF CEO Joe Randell.
- The deal is expected to close before the end of Q3, CHRRF said.
- The company added that the deal was not expected to materially change the financial forecast set out in its news release dated Aug. 4.
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Canadian airline holding company Chorus Aviation to sell 8 aircraft for ~$45M