Chorus Aviation completes acquisition of six ATR 72-600 aircraft on lease to Flybe and Virgin Australia

Chorus Aviation Capital’s subsidiaries have completed the acquisition of six ATR 72-600 aircraft with attached leases from Avation. The acquisition agreements were previously announced on April 24, 2017. The acquired aircraft are between one and four years old. Three are currently on lease to U.K. carrier, Flybe, and three are currently on lease to Virgin Australia Airlines. The acquisition was completed using a combination of equity capital from Chorus and term debt financing consistent with previously indicated leverage ratios for the Chorus Aviation Capital business. The aggregate purchase price for the aircraft is consistent with current market values for similar aircraft.