Chorus Aviation has announced that its subsidiary, Falko Regional Aircraft Limited has executed agreements to sell eight wholly owned aircraft that had previously been on lease, for net proceeds of approximately US$45 million after related debt repayments and estimated tax provisions. The Falko team has an extensive track record of opportunistically selling aircraft, having completed over 160 aircraft sales.
“The sale of these Chorus owned aircraft decreases debt and leverage while generating cash flows from trading. We will continue to look for opportunistic asset sale transactions to increase shareholder value,” concluded Mr. Randell.
This transaction is expected to close before the end of the third quarter of 2022.