Chorus Aviation Announces Agreement to Sell Three Dash 8-400 Aircraft and Closing of Elisen Acquisition

Chorus Aviation Announces Agreement to Sell Three Dash 8-400 Aircraft and Closing of Elisen Acquisition

HALIFAX, NS, Sept. 4, 2025 /CNW/ - Chorus Aviation Inc. ("Chorus") (TSX: CHR) today announced it has entered into an agreement to sell three Dash 8-400 aircraft and has closed the previously-announced acquisition of Elisen & Associates Inc.

Chorus expects to realize net proceeds of approximately US $20 million from the sale of the three Dash 8-400 aircraft. Subject to customary conditions to closing, the sales are expected to close by the end of this year as each of the aircraft exits the fleet in accordance with the Capacity Purchase Agreement between Jazz Aviation LP and Air Canada.

Forward-Looking Information

This news release contains forward-looking information and statements within the meaning of applicable securities laws (collectively, "forward-looking information"). Forward-looking information is identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "potential", "predict", "project", "will", "would", and similar terms and phrases, including negative versions thereof. All information and statements other than statements of historical fact are forward-looking and by their nature, are based on various underlying assumptions and expectations that are subject to known and unknown risks, uncertainties and other factors that may cause actual future results, performance or achievements to differ materially from those indicated in the forward-looking information. As a result, there can be no assurance that the forward-looking information included in this news release will prove to be accurate or correct.

Examples of forward-looking information in this news release include statements and expectations regarding the expected closing of the Dash 8-400 sales and the anticipated net proceeds thereof to Chorus. Actual results may differ materially from those anticipated in forward-looking information for a number of reasons including: the failure to satisfy any of the conditions precedent to the closing of the aircraft sales; changes in the aviation industry and general economic conditions; and the risk factors described in Chorus' public disclosure record available under Chorus' profile on SEDAR+ at www.sedarplus.ca.

The forward-looking information contained in this news release represents Chorus' expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and is subject to change after such date. Chorus disclaims any intention or obligation to update or revise any forward-looking information as a result of new information, subsequent events or otherwise, except as required by applicable securities laws. Readers are cautioned that the foregoing factors and risks are not exhaustive.

About Chorus Aviation Inc.

Chorus is a holding company which owns the following principal operating subsidiaries: Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines; and Elisen & Associates, a leading provider of aerospace engineering and certification services. Together, Chorus' subsidiaries provide services that encompass every stage of an aircraft's lifecycle, including: contract flying; aircraft refurbishment, engineering and certification services, modification, repurposing and transition; contract flying; aircraft and component maintenance, disassembly, and parts provisioning; aircraft acquisition and leasing; and pilot training.

Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol 'CHR'. Chorus' 6.00% Convertible Senior Unsecured Debentures due June 30, 2026 and 5.75% Senior Unsecured Debentures due June 30, 2027 trade on the Toronto Stock Exchange under the trading symbols 'CHR.DB.B' and 'CHR.DB.C' respectively.  For further information on Chorus, please visit www.chorusaviation.com.

SOURCE Chorus Aviation Inc.