Chorus Aviation has reported net income of CA$21.5 million, a quarter-over-quarter decrease of CA$7.6 million primarily due to the continued impact of COVID–19 on results related to off-lease aircraft, negotiated amendments to certain lease agreements including extensions, the 2021 CPA amendments and lower unrealized foreign exchange gains of CA$10.7 million.
The company reported adjusted net income of CA$11.4 million a decrease of CAS$10.3 million quarter-over-quarter primarily due to the previously noted impact of COVID-19 on results and a reduction in earnings due to a lower US dollar foreign exchange rate.
Chorus Aviation reported adjusted EBITDA of CA$76.9 million, a decrease of CA$14.2 million over second quarter 2020. The company reported liquidity of CA$177.9 million and collected approximately 67.0% of the Regional Aircraft Leasing segment’s lease revenue in the second quarter. (US$1.00 = CA$1.25 at time of publication.)
