Chorus Aviation has achieved a major milestone in its plan to sell its Regional Aircraft Leasing division, securing overwhelming shareholder approval and clearing key regulatory hurdles. In a special meeting, approximately 98.1% of the votes cast supported the transaction, surpassing the required two-thirds majority needed to move forward.
This strong support from shareholders, combined with the clearance of significant regulatory hurdles, signals a positive outlook for the deal’s completion. The company has successfully navigated the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act and received approval from Ireland’s Competition and Consumer Protection Commission. Notably, Chorus confirmed that no filings are required under the Competition Act (Canada) or the Investment Canada Act.
However, the deal’s finalization is still contingent on additional regulatory approvals and the fulfillment of customary closing conditions outlined in the Sale and Purchase Agreement.
Chorus Aviation stands as a global aviation solutions provider with a strong focus on regional aviation. Its subsidiaries include Falko Regional Aircraft, a leading asset manager and lessor in the regional aircraft market; Jazz Aviation, the largest regional operator in Canada flying under the Air Canada Express brand; Voyageur Aviation, specializing in charter services, aircraft modifications, and maintenance support; and Cygnet Aviation Academy, a renowned institution for pilot training.
Chorus shares are listed on the Toronto Stock Exchange under the symbol ‘CHR’, with its Senior Unsecured Debentures trading under the symbols ‘CHR.DB.A’, ‘CHR.DB.B’, and ‘CHR.DB.C’.
