Chorus Aviation Announces Purchase of Two New Bombardier Q400s and Agreement to Lease to Jambojet

Chorus Aviation Inc. (‘Chorus’) (TSX: CHR) announced today agreements to purchase two new Bombardier Q400 turboprop aircraft and lease them to Jambojet Limited, a subsidiary of Kenya Airways PLC. Both aircraft are scheduled to be delivered and enter service in the second half of 2019.

Steve Ridolfi, President of Chorus Aviation Capital, stated, "We are excited about the growth prospects for regional aviation in Africa and are particularly pleased to be working with Jambojet, a regional low-cost carrier based in Kenya, through this transaction."

Willem Hondius, Chief Executive Officer of Jambojet, stated, "This agreement comes at a pivotal time in Jambojet’s journey as we expand our footprint into the East Africa region and increase our frequencies to meet the high demand of affordable and quality air travel. We are looking forward to forging a strong relationship with Chorus for mutual growth."

Upon the completion of this transaction, Chorus Aviation Capital will have 13 lessees in 13 countries, two of which are based in Africa. In total, Chorus will have 80 aircraft on lease throughout the world.