Financial Highlights:

• Net income of $10.7 million compared to $18.4 million for Q3 2024.
• Net income from continuing operations of $10.7 million compared to $19.8 million for Q3 2024 primarily due to a change in unrealized foreign exchange losses of $12.8 million.
• Adjusted Earnings available to Common Shareholders of $15.4 million compared to $11.7 million for Q3 2024, primarily due to lower net interest expense.
• Adjusted Earnings available to Common Shareholders of $0.60 per Common Share, basic, compared to $0.43 for Q3 2024.
• Adjusted EBITDA of $51.6 million compared to $53.6 million for Q3 2024.
• Free Cash Flow of $33.2 million compared to $32.4 million for Q3 2024.
• Leverage Ratio of 1.5 compared to 1.4 at December 31, 2024, due to additional cash held at December 31, 2024 as a result of a $58.9 million prepayment of revenue relating to January 2025.

HALIFAX, NS, Nov. 6, 2025 /CNW/ – Chorus Aviation Inc. (‘Chorus’) (TSX: CHR) today announced its third quarter 2025 financial results.

“Chorus’ third quarter results reflect solid financial performance, a clear focus on delivering shareholder value and continued execution on our strategic priorities,” said Colin Copp, President and Chief Executive Officer, Chorus. “We delivered strong earnings and cashflows this quarter with Jazz generating stable and predictable earnings, and Voyageur accelerating its shift to higher operating margin areas of defence, parts sales and specialty MRO. Our strategic emphasis on these areas reflects an expedited move away from geo-politically sensitive specialty flying.”

“Continuing with our focus on delivering value to our shareholders, we recently announced a substantial issuer bid to repurchase up to $50.0 million of our Common Shares, redeemed our Series B Debentures and executed agreements to sell nine Dash 8-400 aircraft that are due to exit Jazz’s capacity purchase agreement for US $62.0 million,” noted Mr. Copp. “This is in addition to initiating a quarterly cash dividend of $0.08 per Common Share and buying back $35.2 million in Common Shares purchased since the start of this year.”

“This quarter, we were pleased to welcome the Elisen team to Chorus, an acquisition that enables us to better pursue adjacencies in specialized engineering and defence contracting,” said Mr. Copp.

Third Quarter Summary

In the third quarter of 2025, Chorus reported Adjusted EBITDA from continuing operations of $51.6 million, a decrease of $2.0 million compared to the third quarter of 2024 primarily due to:

• a decrease in aircraft leasing revenue under the CPA of $2.5 million primarily due to a change in lease rates on certain aircraft partially offset by a higher US dollar exchange rate;
• a decrease in Voyageur’s parts sales, contract flying and MRO activity; and
• a decrease in capitalization of major maintenance overhauls on owned aircraft of $0.4 million; partially offset by
• a decrease in general administrative expenses primarily attributable to lower overhead costs.

Adjusted Net Income from continuing operations was $15.4 million for the quarter, an increase of $3.7 million compared to the third quarter of 2024 primarily due to:

• a decrease in net interest costs of $5.7 million primarily related to the repayment of the Series A Debentures at maturity, the partial repurchase of the Series B Debentures and Series C Debentures in the first quarter of 2025 and the absence of any draw in the current quarter under the Operating Credit Facility; and
• a positive change in foreign exchange of $1.4 million; partially offset by
• a $2.0 million decrease in Adjusted EBITDA as previously described; and
• an increase of $1.3 million in income tax expense.

Net income from continuing operations was $10.7 million, a decrease of $9.1 million compared to the third quarter of 2024 primarily due to:

• a negative change in net unrealized foreign exchange of $12.8 million; partially offset by
• the previously noted increase in Adjusted Net Income of $3.7 million.

Year-to-Date Summary

Chorus reported Adjusted EBITDA from continuing operations of $159.8 million for the nine months ended September 30, 2025, an increase of $1.7 million compared to the same prior year period primarily due to:

• an increase in Voyageur’s parts sales, contract flying and MRO activity;
• a decrease in stock-based compensation of $2.8 million due to the recognition of the immediate vesting of certain restricted share units in Q2 2024 related to the sale of the RAL business and the change in fair value of the Total Return Swap offset by an increase in the Common Share price; and
• a decrease in general administrative expenses primarily attributable to lower overhead costs; partially offset by
• a decrease in aircraft leasing revenue under the CPA of $6.7 million primarily due to a change in lease rates on certain aircraft partially offset by a higher US dollar exchange rate; and
• a decrease in capitalization of major maintenance overhauls on owned aircraft of $3.3 million.

Adjusted Net Income from continuing operations of $48.0 million, an increase of $12.9 million compared to the same prior year period primarily due to:

• a $1.7 million increase in Adjusted EBITDA as previously described; and
• a decrease in net interest costs of $16.5 million primarily related to the repayment of the Series A Debentures at maturity, the partial repurchase of the Series B Debentures and Series C Debentures in the first quarter of 2025 and the absence of any draw in the current quarter under the Operating Credit Facility; partially offset by
• an increase of $2.4 million in income tax expense primarily due to the increase in EBT, adjusted to remove non-taxable unrealized foreign exchange gains and certain non-deductible expenses partially offset by an income tax recovery of $3.1 million related to non-capital loss carrybacks resulting from taxes paid on the redemption of Preferred Shares;
• an increase in depreciation expense of $2.4 million primarily attributable to capital expenditures; and
• a negative change in foreign exchange of $0.5 million.

Net income from continuing operations of $62.0 million, an increase of $28.4 million compared to the same prior year period primarily due to:

• the previously noted increase in Adjusted Net Income of $12.9 million; and
• a positive change in net unrealized foreign exchange of $15.5 million.

Adjusted Earnings available to Common Shareholders from continuing operations was $48.0 million, an increase of $30.7 million compared to the same prior year period primarily due to:

• the previously noted increase in Adjusted Net Income of $12.9 million; and
• the elimination of Preferred Share dividends of $17.8 million due to the redemption of the Preferred Shares.

About Chorus Aviation Inc.

Chorus is a holding company which owns the following principal operating subsidiaries: Jazz Aviation, the largest regional airline in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines and Elisen & Associates, a leading provider of aerospace engineering and certification services. Together, Chorus’ subsidiaries provide services that encompass every stage of an aircraft’s lifecycle, including: contract flying; aircraft refurbishment, engineering, modification, repurposing and transition; contract flying; aircraft and component maintenance, disassembly, and parts provisioning; aircraft acquisition and leasing; and pilot training.

Financial Highlights:

• Net income of $32.4 million compared to a net loss of $180.6 million for Q2 2024.
• Net income from continuing operations¹ of $32.4 million compared to $8.5 million for Q2 2024.
• Adjusted Earnings available to Common Shareholders² of $17.2 million compared to $1.9 million for Q2 2024, due to the sale of the RAL business and improved financial results attributable to growth at Voyageur and lower corporate costs.
• Adjusted Earnings available to Common Shareholders of $0.66 per Common Share, basic, compared to $0.07 for Q2 2024.
• Adjusted EBITDA of $51.3 million compared to $50.5 million for Q2 2024.
• Free Cash Flow of $34.6 million compared to $28.2 million for Q2 2024.
• Leverage Ratio of 1.5 compared to 1.4 at December 31, 2024, due to additional cash held at December 31, 2024 as a result of a $58.9 million prepayment of revenue relating to January 2025.

HALIFAX, NS, Aug. 5, 2025 /CNW/ – Chorus Aviation Inc. (‘Chorus’) (TSX: CHR) today announced its second quarter 2025 financial results.

“Our second quarter results reflect solid performance on all key financial metrics and concrete actions to return capital to shareholders, while re-investing in Chorus’ growth and high-potential capabilities,” said Colin Copp, President and Chief Executive Officer, Chorus. “Additionally, we announced an agreement in July to acquire Montreal-based Elisen & Associates Inc., a leading provider of aerospace engineering and certification services as a strategic move to support future growth.”

“Voyageur’s continued strong performance, combined with consistent earnings from Jazz’s capacity purchase agreement (CPA) with Air Canada, contributed to these results,” added Mr. Copp. “The second quarter also included an important milestone for Voyageur, as it delivered the first of two Dash 8-300 Fireswift aerial firefighting aircraft on behalf of its customer, Metrea, a global, US-based defense and national security company. We are excited about the opportunity in this area.”

“The initiation of a quarterly dividend that we intend to grow over time with our business was a key step Chorus took to return shareholder value. We also completed $27.2 million in share buybacks so far this year to the end of June through our normal course issuer bid (NCIB) and a substantial issuer bid (SIB),” said Mr. Copp. “To further strengthen our balance sheet, Chorus today announced it will redeem its outstanding Series B Debentures in the principal amount of $28.7 million.”

Second Quarter Summary

In the second quarter of 2025, Chorus reported Adjusted EBITDA from continuing operations of $51.3 million, an increase of $0.9 million compared to the second quarter of 2024 primarily due to:

• an increase in Voyageur’s parts sales, contract flying and MRO activity; and
• a decrease in stock-based compensation of $2.4 million partially due to the recognition of the immediate vesting of certain restricted share units in Q2 2024 related to the sale of the RAL business and the change in fair value of the Total Return Swap offset by an increase in the Common Share price; and
• a decrease in general administrative expenses primarily attributable to lower overhead costs; partially offset by
• a decrease in aircraft leasing revenue under the CPA of $3.4 million primarily due to a change in lease rates on certain aircraft partially offset by a higher US dollar exchange rate; and
• a decrease in capitalization of major maintenance overhauls on owned aircraft of $1.4 million.

Adjusted Net Income from continuing operations was $17.2 million for the quarter, an increase of $6.4 million compared to the second quarter of 2024 primarily due to:

• a $0.9 million increase in Adjusted EBITDA as previously described;
• a decrease in net interest costs of $5.3 million primarily related to the repayment of the Series A Debentures at maturity, the partial repurchase of the Series B Debentures and Series C Debentures and the absence of any draw in the current quarter under the Operating Credit Facility; and
• a decrease of $2.3 million in income tax expense primarily due to an income tax recovery of $3.1 million related to non-capital loss carrybacks resulting from taxes paid on the redemption of the Preferred Shares; partially offset by
• an increase in depreciation expense of $1.2 million primarily attributable to capital expenditures; and
• a negative change in foreign exchange of $0.8 million.

Net income from continuing operations was $32.4 million, an increase of $24.0 million compared to the second quarter of 2024 primarily due to:

• the previously noted increase in Adjusted Net Income of $6.4 million; and
• a positive change in net unrealized foreign exchange of $17.6 million.

Adjusted Earnings available to Common Shareholders from continuing operations was $17.2 million for the quarter, an increase of $15.3 million compared to the second quarter of 2024 primarily due to:

• the previously noted increase in Adjusted Net Income of $6.4 million; and
• the elimination of Preferred Share dividends of $9.0 million due to the redemption of the Preferred Shares.

Year-to-Date Summary

Chorus reported Adjusted EBITDA from continuing operations of $108.2 million for the six months ended June 30, 2025, an increase of $3.7 million compared to the same prior year period primarily due to:

• an increase in Voyageur’s parts sales, contract flying and MRO activity;
• a decrease in stock-based compensation of $2.7 million due to the recognition of the immediate vesting of certain restricted share units in Q2 2024 related to the sale of the RAL business and the change in fair value of the Total Return Swap offset by an increase in the Common Share price; and
• a decrease in general administrative expenses primarily attributable to lower overhead costs; partially offset by
• a decrease in aircraft leasing revenue under the CPA of $4.2 million primarily due to a change in lease rates on certain aircraft partially offset by a higher US dollar exchange rate; and
• a decrease in capitalization of major maintenance overhauls on owned aircraft of $2.8 million.

Adjusted Net Income from continuing operations of $32.6 million, an increase of $9.2 million compared to the same prior year period primarily due to:

• a $3.7 million increase in Adjusted EBITDA as previously described; and
• a decrease in net interest costs of $10.8 million primarily related to the repayment of the Series A Debentures at maturity, the partial repurchase of the Series B Debentures and Series C Debentures and the absence of any draw in the current quarter under the Operating Credit Facility; partially offset by
• an increase in depreciation expense of $2.3 million primarily attributable to capital expenditures;
• a negative change in foreign exchange of $1.9 million; and
• an increase of $1.2 million in income tax expense primarily due to the increase in EBT, adjusted to remove non-taxable unrealized foreign exchange gains and certain non-deductible expenses partially offset by an income tax recovery of $3.1 million related to non-capital loss carrybacks resulting from taxes paid on the redemption of Preferred Shares.

Net income from continuing operations of $51.4 million, an increase of $37.5 million compared to the same prior year period primarily due to:

• the previously noted increase in Adjusted Net Income of $9.2 million; and
• a positive change in net unrealized foreign exchange of $28.3 million.

Adjusted Earnings available to Common Shareholders from continuing operations was $32.6 million, an increase of $27.0 million compared to the same prior year period primarily due to:

• the previously noted increase in Adjusted Net Income of $9.2 million; and
• the elimination of Preferred Share dividends of $17.8 million due to the redemption of the Preferred Shares.

About Chorus Aviation Inc.
Chorus is a holding company which owns the following principal operating subsidiaries: Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; and Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines. Together, Chorus’ subsidiaries provide services that encompass every stage of an aircraft’s lifecycle, including: contract flying; aircraft refurbishment, engineering, modification, repurposing and transition; contract flying; aircraft and component maintenance, disassembly, and parts provisioning; aircraft acquisition and leasing; and pilot training.

HALIFAX, NS, July 21, 2025 /CNW/ – Chorus Aviation Inc. (TSX: CHR) today announced it has entered into an agreement to acquire Elisen & Associates Inc. (“Elisen”), a leading provider of aerospace engineering and certification services based in Montreal.

Founded in 1997 by Stephane Durand and Taif Rahman, Elisen has built a strong reputation for its work on complex engineering projects spanning commercial, business and rotary aircraft modifications, defence projects and sustainable aviation development. Elisen’s projects include support and development work on the Airbus A220, Bell helicopters and Bombardier, Gulfstream and Lear special mission aircraft, among others. Mr. Durand and Mr. Rahman will continue to lead Elisen following the closing of the transaction.

“Elisen is a leading engineering firm located at the core of Montreal’s aerospace community. Acquiring Elisen will position us to grow our defence and specialized MRO capabilities by adding valuable expertise and industry relationships,” said Colin Copp, President and Chief Executive Officer, Chorus. “We are delighted that Stephane and Taif will continue to lead Elisen and look forward to welcoming the entire Elisen team.”

“We have had expressions of interest from several companies over the years, but none provides the alignment of culture, values and strategic vision that Chorus offers,” stated Elisen Co-President, Mr. Rahman.

“We are excited to work with the Chorus team to pursue a broader set of opportunities together,” added Elisen Co-President, Mr. Durand.

The transaction is expected to close prior to the end of this year, conditional upon the completion of certain regulatory notifications and the satisfaction of other customary conditions to closing.  The transaction will be paid for using available cash and is not expected to have a material impact on Chorus’ consolidated revenue, earnings or balance sheet.

About Chorus Aviation Inc.

Chorus is a holding company which owns the following principal operating subsidiaries: Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; and Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines. Together, Chorus’ subsidiaries provide services that encompass every stage of an aircraft’s lifecycle, including: contract flying, aircraft refurbishment, engineering, modification, repurposing and transition; aircraft and component maintenance, disassembly, and parts provisioning; aircraft acquisition and leasing; and pilot training.

Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol ‘CHR’. Chorus’ 6.00% Convertible Senior Unsecured Debentures due June 30, 2026 and 5.75% Senior Unsecured Debentures due June 30, 2027 trade on the Toronto Stock Exchange under the trading symbols ‘CHR.DB.B’ and ‘CHR.DB.C’ respectively. For further information on Chorus, please visit www.chorusaviation.com.

SOURCE Chorus Aviation Inc.

Financial Highlights:

• Net income of $18.9 million compared to $12.3 million for Q1 2024.
• Net income from continuing operations of $18.9 million compared to $5.4 million for Q1 2024.
• Adjusted Earnings available to Common Shareholders of $15.4 million compared to $3.7 million for Q1 2024 was due to the positive impacts of the sale of the RAL business and improved financial results primarily related to increased parts sales, contract flying, MRO and other revenue.
• Adjusted Earnings available to Common Shareholders of $0.57 per Common Share, basic, compared to $0.13 for Q1 2024.
• Adjusted EBITDA of $56.9 million compared to $54.0 million for Q1 2024.
• Free Cash Flow of $40.6 million compared to $30.7 million for Q1 2024.
• Leverage Ratio of 1.6 compared to 1.4 at December 31, 2024. The increase was a result of additional cash held at December 31, 2024 due to a $58.9 million prepayment of revenue related to January 2025.
• Parts sales, contract flying, MRO and other revenue of $39.1 million compared to $28.5 million for Q1 2024 primarily driven by Voyageur.

HALIFAX, NS, May 6, 2025 /CNW/ – Chorus Aviation Inc. (‘Chorus’) (TSX: CHR) today announced its first quarter 2025 financial results.

“Consistent with our plan, the first quarter results show significant improvements resulting from our sale of the regional aircraft leasing (RAL) business,” said Colin Copp, President and Chief Executive Officer, Chorus. “The results also reflect strong growth at Voyageur, primarily driven by part sales, consistent earnings from Jazz’s capacity purchase agreement (CPA) with Air Canada as well as our corporate cost reductions.”

“At the same time, we took steps to deliver on our commitment to return capital to shareholders through a substantial issuer bid (SIB) for $25.0 million in value of Chorus’ shares,” added Mr. Copp. “This initiative is in addition to $53.0 million in share buy-backs since we launched our normal course issuer bid (NCIB) program in 2022.”

“These positive outcomes and our focus on returning capital to shareholders reflect the increased strength of our balance sheet, and a commitment to enhance value for our shareholders,” said Mr. Copp.

First Quarter Summary

In the first quarter of 2025, Chorus reported Adjusted EBITDA from continuing operations of $56.9 million, an increase of $2.8 million compared to the first quarter of 2024 primarily due to:

• an increase in Voyageur’s parts sales, contract flying and MRO activity; and
• a decrease in general administrative expenses primarily attributable to lower overhead costs; partially offset by
• a decrease in capitalization of major maintenance overhauls on owned aircraft of $1.5 million; and
• a decrease in aircraft leasing revenue under the CPA of $0.7 million primarily due to a change in lease rates on certain aircraft partially offset by a higher US dollar exchange rate.

Adjusted Net Income from continuing operations was $15.4 million for the quarter, an increase of $2.8 million compared to the first quarter of 2024 primarily due to:

• a $2.8 million increase in Adjusted EBITDA as previously described; and
• a decrease in net interest costs of $5.5 million primarily related to the repayment of the Series A Debentures at maturity, the partial repurchase of the Series B Debentures and Series C Debentures and the absence of any draw in the current quarter under the Operating Credit Facility; partially offset by
• an increase of $3.5 million in income tax expense;
• an increase in depreciation expense of $1.1 million primarily attributable to capital expenditures; and
• a negative change in foreign exchange of $1.0 million.

Net income from continuing operations was $18.9 million, an increase of $13.5 million compared to the first quarter of 2024 primarily due to:

• the previously noted increase in Adjusted Net Income of $2.8 million; and
• a positive change in net unrealized foreign exchange of $10.7 million.

Adjusted Earnings available to Common Shareholders from continuing operations was $15.4 million for the quarter, an increase of $11.7 million compared to the first quarter of 2024 primarily due to:

• the previously noted increase in Adjusted Net Income of $2.8 million; and
• the elimination of Preferred Share dividends of $8.8 million due to the redemption of the Preferred Shares.

About Chorus Aviation Inc.

Chorus is a holding company which owns the following principal operating subsidiaries: Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; and Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines. Together, Chorus’ subsidiaries provide services that encompass every stage of an aircraft’s lifecycle, including: contract flying, aircraft refurbishment, engineering, modification, repurposing and transition; aircraft and component maintenance, disassembly, and parts provisioning; aircraft acquisition and leasing; and pilot training.