Chorus Aviation Inc. says it lost $180.6 million in its second quarter, down from profits of $20.3 million during the same quarter last year.<\/p>\n
The Halifax-based company says the results include a previously disclosed $187 million impairment on discontinued operations.<\/p>\n
Operating revenues for the quarter ended June 30 were $351.2 million, up from $327.5 million last year.<\/p>\n
Last month, Chorus agreed to sell its regional aircraft leasing arm in a deal valued at $1.9 billion.<\/p>\n
President and CEO Colin Copp says the sale, expected to close at the end of the year, will set the stage for steady and sustainable future growth at the company.<\/p>\n
He says the divestiture will enable Chorus to invest in future growth as well as to implement a sustainable return of capital program for shareholders.<\/p>\n
This report by The Canadian Press was first published August 13, 2024.<\/p>\n
Companies in this story: (TSX:CHR)<\/p>\n
The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"
Chorus Aviation Inc. says it lost $180.6 million in its second quarter, down from profits of $20.3 million during the same quarter last year. The Halifax-based company says the results include a previously disclosed $187 million impairment on discontinued operations. Operating revenues for the quarter ended June 30 were $351.2 million, up from $327.5 million …<\/p>\n","protected":false},"author":1,"featured_media":16740,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpscppro_dont_share_socialmedia":null,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"default","_twitter_share_type":"default","_linkedin_share_type":"default","_pinterest_share_type":"default","_linkedin_share_type_page":"","_instagram_share_type":"default","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":null,"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[96,102],"tags":[],"class_list":["post-16738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aviation-world","category-featured-en"],"yoast_head":"\n