This will allow an improved application of any quarantine restrictions. We urge government to act swiftly to implement current, science-based approaches to COVID-19 testing of passengers to help support the recovery of passenger demand. Adjusted EBT (EBT before signing bonuses, employee separation program costs, impairment provisions, lease repossession costs net of security packages recovered, strategic advisory fees and other items such as foreign exchange gains and losses) is a non-GAAP financial measure used by Chorus as a supplemental financial measure of operational performance. Why are the top tech companies in America circling this desert? Vote “Underperform” if you believe CHR will underperform the S&P 500 over the long term. These deferrals are estimated to increase Chorus' trade receivables and long-term lease deferral receivables to approximately US $41.0 million by the end of the year. press [at] avidatum.com, https://produceredition.webcasts.com/starthere.jsp?ei=1380506&tp_key=9371884315. In July 2020, Chorus extended a loan deferral program with its largest lender that allows Chorus to defer scheduled payments under certain aircraft loans to the end of 2020 so long as the lease rent under the corresponding leases is deferred. This suggests a possible upside of 35.3% from the stock's current price. Identify stocks that meet your criteria using seven unique stock screeners. document.write(''); Chorus Aviation Inc. (CHR.TO) has received a consensus rating of Buy. ", "In addition to feeling safe, passengers need affordable regional transportation. Get pre-market outlook, mid-day update and after-market roundup emails in your inbox. Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol 'CHR'. All pending acquisitions and lease commitments are subject to satisfaction of customary conditions precedent to closing. Outlook (See cautionary statement regarding forward-looking information below) The COVID-19 pandemic and resulting government restrictions have created unprecedented challenges for the passenger aviation industry around the world. In Canada, we need a national COVID-19 testing regime that uses scientifically based procedures to help facilitate the safe movement of passengers. a reduction in other revenue due to a decrease in third-party MRO activity, lower part sales and reduced contract flying resulting from the economic impact of COVID-19; a decrease in capitalization of major maintenance overhauls on owned aircraft operated under the CPA of $4.0 million over the previous period; and, expected credit loss and inventory provisions of $1.3 million in Voyageur; partially offset by. Virgin Australia entered into voluntary administration on April 20, 2020 and terminated its lease agreements for three ATR72-600s. Even though Chorus' business model does not directly expose it to the market risks ordinarily faced by airlines, substantially all its source revenue is derived from airline customers, through its CPA and its leasing of aircraft to airline customers globally. MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Aircraft related acquisitions and ESP capital expenditures in 2020 are expected to be between $417.0 million and $426.0 million.1, (unaudited)(expressed in thousands of Canadian dollars), Capital expenditures, excluding aircraft acquisitions and ESP. Chorus Aviation Inc. (CHR.TO) is scheduled to release its next quarterly earnings announcement on Wednesday, February 10th 2021. ", "Demand for air service will only return when people have confidence that their health and safety are protected, and when the requirement for quarantine is reduced or eliminated. Unfortunately, the duration and the permanent effects of the COVID-19 pandemic are unknown. Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter. HALIFAX, NS, Nov. 10, 2020 /CNW/ – Chorus Aviation Inc. (‘Chorus’) (TSX: CHR) today announced third quarter 2020 financial results and an update on the impact of COVID-19. These non-GAAP measures are generally numerical measures of a company’s financial performance, financial position or cash flows, that include or exclude amounts from the most comparable GAAP measure. The call may be accessed by dialing 1-888-231-8191. Chorus Aviation Inc. (CHR.TO)'s management team includes the following people: Apple pays $30 million per month for mysterious “6G” network? The P/E ratio of Chorus Aviation Inc. (CHR.TO) is 7.98, which means that it is trading at a less expensive P/E ratio than the Industrials sector average P/E ratio of about 12.99. Flybe ceased operating and was placed in administration on March 5, 2020. Chorus has received requests from substantially all its Regional Aircraft Leasing segment customers for some form of temporary rent relief, as they cope with an unprecedented reduction in demand for passenger air travel. As at September 30, 2020, CAC's long-term debt related to these aircraft was US $29.6 million. The company also provides charter services; and specialized contract flying, such as medical, logistical, and humanitarian flights primarily to government entities and international non-governmental organizations.

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