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Chorus Aviation reports $38.9M Q2 profit boosted by unrealized forex gains

An Air Canada Jazz aircraft sits at a terminal at the Ottawa airport on April 13, 2012.Chorus Aviation Inc. reported a profit of $38.9 million in its latest quarter, boosted by unrealized foreign exchange gains on its long-term debt.The regional aviation company says the profit for the quarter ended June 30 was up from a profit of $16.2 million in the same quarter last year when it recorded a loss on foreign exchange. THE CANADIAN PRESS/Adrian Wyld

HALIFAX — Chorus Aviation Inc. reported a profit of $38.9 million in its latest quarter, boosted by unrealized foreign exchange gains on its long-term debt.

The regional aviation company says the profit for the quarter ended June 30 was up from a profit of $16.2 million in the same quarter last year when it recorded a loss on foreign exchange.

Operating revenue totalled $332.5 million, down from $353.9 million in the second quarter last year.

On an adjusted basis, Chorus earned $24.7 million for the quarter, down from an adjusted profit of $29.5 million a year ago.

Chorus has been growing its regional aircraft leasing business.

It says since the launch of Chorus Aviation Capital in early 2017 it has grown its portfolio to 56 aircraft.

 

Companies in this story: (TSX:CHR)

 

 

The Canadian Press