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Capacity Purchase Agreement ("CPA") to be amended and extended by an additional 10 years ending December 31, 2035 , securing Jazz's place in Air Canada's regional network for the next 17 years.
$940 million in incremental contracted CPA revenue with overall contracted revenue growing to $2.5 billion over the term of the amended agreement net of near-term fixed fee reductions.
Reinforcement of strategic partnership through a $97.26 million equity investment in Chorus by Air Canada.
Proceeds from the Air Canada investment will enable Chorus to invest in its leasing business, including the purchase of new larger-gauge aircraft that will generate additional lease revenue under the CPA.
Amended CPA to significantly reduce margin risk for Jazz by limiting exposure on controllable costs to a maximum of $2 million annually.
Chorus expects to continue to generate cash flow to support its current dividend.
Enhanced pilot mobility agreement to provide Jazz pilots with access to pilot careers at Air Canada.
Transactions are subject to certain material conditions precedent to closing.
https://finance.yahoo.com/news/chorus-a ... 00049.html
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https://www.chorusaviation.ca/2019-01-1 ... venth-Year