Chorus Aviation Announces Agreement to Sell Three Dash 8-400 Aircraft and Closing of Elisen Acquisition

Chorus Aviation Inc. (“Chorus”) (TSX: CHR) today announced it has entered into an agreement to sell three Dash 8-400 aircraft and has closed the previously-announced acquisition of Elisen & Associates Inc.

Chorus expects to realize net proceeds of approximately US $20 million from the sale of the three Dash 8-400 aircraft. Subject to customary conditions to closing, the sales are expected to close by the end of this year as each of the aircraft exits the fleet in accordance with the Capacity Purchase Agreement between Jazz Aviation LP and Air Canada.