chorus aviation book value

Chorus had three ATR 72-600 and five Dash 8-400 aircraft on lease with Flybe. Adjusted EBITDA should not be used as an exclusive measure of cash flow because it does not account for the impact of working capital growth, capital expenditures, debt repayments and other sources and uses of cash, which are disclosed in the statements of cash flows, forming part of Chorus' financial statements. Action needs to be taken by government to ensure Canada has an efficient and accessible air transportation network across our vast country. The 2020 plan includes two ESPs and nine CRJ900s in the Regional Aviation Services segment as well as two ATR72-600s and three A220-300s for the Regional Aircraft Leasing segment all of which have been converted using a foreign exchange rate of $1.3628, the June 30, 2020 closing day rate from the Bank of Canada. Price to book value is a valuation ratio that is measured by stock price / book value per share. The Regional Aviation Services segment's adjusted EBITDA decreased by $2.9 million.

The Regional Aviation Services segment's commitments include the following pending and delayed transactions:  six CRJ900s, four Dash 8-300s that will undergo the ESP planned for between 2020 - 2022, and five 75-78 seat aircraft, all of which are intended to earn leasing revenue under the CPA. Sign in. The period of relief most commonly spans three to 12 months with repayment terms typically between 12 and 24 months.

", "Since the start of this crisis, we've had to make very difficult but necessary decisions, including the reduction to our workforce by approximately 65%, or almost 3,200 employees. Excluding these items does not imply they are non-recurring due to ongoing currency fluctuations between the Canadian and US dollar. 337.41M. This category only includes cookies that ensures basic functionalities and security features of the website. In accordance with the CPA, the Fixed Margin does not vary with the number of aircraft and is fixed for 2020 based on agreed annual amounts. CAC is in the process of repossessing two CRJ900s previously on lease to CityJet pursuant to a negotiated termination agreement which provides for the early termination of the leases and return of the aircraft to CAC.

Their continued commitment, resilience and focus on safety have been critical," concluded Mr. Randell. Our assessment of the economic impact of COVID-19 on Chorus Aviation Capital's overall leasing portfolio with a net book value of $1.5 billion, led to a non-cash impairment provision of $9.5 million in the quarter, representing less than 1% of Chorus' leased aircraft portfolio." Copyright 2020, Chorus Aviation, All Rights Reserved. Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol 'CHR'.

The call will be simultaneously audio webcast via: https://produceredition.webcasts.com/starthere.jsp?ei=1341447&tp_key=f0bb72e9b3, The conference call webcast will be archived on Chorus’ website at www.chorusaviation.com under Investors > Reports > Executive Management Presentations. Chorus uses certain non-GAAP financial measures, described below, to evaluate and assess performance. Furthermore, Chorus' loan agreements provide time and flexibility to remarket the aircraft. These aircraft account for less than 5.0% of the net book value of Chorus' regional aircraft leasing segment fleet and less than 5.0% of Chorus' consolidated annualized 2019 EBITDA. Actual results may differ materially from results indicated in forward-looking information for a number of reasons, including a prolonged duration of the COVID-19 outbreak and/or further restrictive measures to contain its spread, the evolving impact of COVID-19 on Chorus' contractual counterparties, changes in aviation industry and general economic conditions,  the continued payment (in whole or in part) of amounts due under the CPA, Chorus' ability to pay its indebtedness and otherwise remain in compliance with its debt covenants, the risk of cross defaults under debt agreements and other significant contracts, the risk of asset impairments and provisions for expected credit losses, the delay or non-delivery of the remaining six new CRJ900 aircraft to Chorus for operation and lease under the CPA, as well as the risk factors identified in Chorus' Second Quarter MD&A, Chorus' Annual Information Form dated February 12, 2020, and in Chorus' public disclosure record available at www.sedar.com. Subsequent to June 30, 2020, Chorus extended a loan deferral program, with its largest lender, that allows Chorus to defer scheduled payments under certain aircraft loans to the end of the year for those lessees so long as the rent under the corresponding leases is deferred. Earlier today, Flybe Limited ('Flybe') ceased operating and was placed in administration. As expected, regional aircraft have been affirmed as fundamentally important to most countries' domestic transportation networks. Chorus began earning leasing revenue from the three delivered CRJ900s in June 2020. View and export this data going back to 2016. We are taking all reasonable measures to protect and preserve our company and the value we've created for our shareholders. Chorus began earning leasing revenue from the three delivered CRJ900s in June 2020. Our assessment of the economic impact of COVID-19 on Chorus Aviation Capital’s overall leasing portfolio with a net book value of $1.5 billion, led to a non-cash impairment provision of $9.5 million in the quarter, representing less than 1% of Chorus’ leased aircraft portfolio. Other includes gain on disposal of property and equipment. In-depth view of key statistics and finances for Chorus Aviation Inc (CHR) on MSN Money. So, should you buy Air Canada at book value or Chorus Aviation at a 25% discount to book value?

Management believes Adjusted EBITDA assists investors in comparing Chorus’ performance by excluding items, which it does not believe will re-occur over the longer-term (such as signing bonuses, employee separation program costs, impairment provisions, lease repossession costs net of security packages recovered, and strategic advisory fees) as well as items that are non-cash in nature such as foreign exchange gains and losses. Price to Book Value per Share Ratio. For example, in the second quarter our Air Canada Express operation flew approximately 9% of the block hours flown in the same period last year; however, we expect this to increase to be between 20% and 30% for the balance of this year compared to 2019. P/B Ratios below 1 indicate that a company could be undervalued with …

Due to economic impact of COVID-19 on the global airline industry, Chorus revised its definition of Adjusted EBT and Adjusted EBITDA in the second quarter of 2020 to include impairment provisions and lease repossession costs net of security packages recovered to facilitate transparency and comparability of its results.

The second quarter results were impacted by: Adjusted net income was $21.6 million for the quarter, a decrease of $2.5 million due to: Net income decreased $9.8 million due to the previously noted $2.5 million decrease in adjusted net income, $9.5 million on impairment provisions and $8.0 million on lease repossession costs; offset by the change in net unrealized foreign exchange on long-term debt of $6.3 million, tax recovery on adjusted items of $2.5 million and decreased employee separation program costs of $1.4 million. These aircraft account for less than 5.0% of the net book value of Chorus' regional aircraft leasing segment fleet and less than 5.0% of Chorus' consolidated annualized 2019 EBITDA.

Chorus reported adjusted EBITDA of $179.6 million year-to-date, an increase of $19.2 million over 2019. ... Price/Book Value.

msn back to msn home money. Fair value is also around the same lines. ... Price/Book .

(unaudited)(expressed in thousands of Canadian dollars), Capital expenditures, excluding aircraft acquisitions and ESP. Capital expenditures in 2020, including capitalized major maintenance overhauls but excluding expenditures for the acquisition of aircraft and the ESP, are expected to be between $23.0 million and $29.0 million. As of June 30, 2020, Chorus Aviation Capital's lease deferral receivable was $38.4 million.

With $228 million in liquidity, we are well positioned to manage through an extended recovery period and to participate in the growth of the aviation industry in the future," stated Joe Randell, President and Chief Executive Officer, Chorus. The second quarter results were impacted by: Adjusted net income was $21.6 million for the quarter, a decrease of $2.5 million due to: Net income decreased $9.8 million due to the previously noted $2.5 million decrease in adjusted net income, $9.5 million on impairment provisions and $8.0 million on lease repossession costs; offset by the change in net unrealized foreign exchange on long-term debt of $6.3 million, tax recovery on adjusted items of $2.5 million and decreased employee separation program costs of $1.4 million. Canadian aircraft repair and overhaul services provider Chorus Aviation said on Friday it had received a non-binding acquisition proposal from a third party. "The COVID-19 crisis, provincial and federal government-imposed travel restrictions and border closures continue to have a devastating effect on passenger demand for Canadian air travel. ET on Thursday, August 13, 2020 to discuss the second quarter 2020 financial results. Repayment of the deferrals is required over the course of the subsequent 12 months.

... Price/Book Value. As noted, these aircraft represent only a small portion of the value of our leased aircraft portfolio.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those indicated in the forward-looking information. These deferrals are estimated to increase Chorus’ trade receivables to approximately $60.0 million by the end of the year. Adjusted EBITDA should not be used as an exclusive measure of cash flow because it does not account for the impact of working capital growth, capital expenditures, debt repayments and other sources and uses of cash, which are disclosed in the statements of cash flows, forming part of Chorus’ financial statements. Chorus has received requests from substantially all its Regional Aircraft Leasing segment customers for some form of temporary rent relief, as they cope with an unprecedented reduction in passenger demand.

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