Chorus Aviation completes acquisition of Falko Regional Aircraft

Chorus Aviation Inc. ('Chorus') (TSX: CHR) announces that it has completed its acquisition of Falko Regional Aircraft Limited ('Falko'), as previously announced on February 27, 2022. This acquisition transforms Chorus into a premier full-service provider in regional aviation with unique capabilities to maximize value at every stage of an aircraft's lifecycle. The completion of this transaction establishes Chorus as the world's largest aircraft lessor focused solely on investing in the regional aircraft leasing space, and results in a portfolio of 348 regional aircraft with an aggregate value of approximately US$4.5 billion which are owned, managed, and/or operated by Chorus subsidiaries. As contemplated by the acquisition agreement, Chorus expects to acquire the beneficial interests in five aircraft trusts on a deferred basis prior to the end of the second quarter of 2022 (subject to the satisfaction or waiver of specified conditions applicable to those transactions) bringing the total to 353 aircraft.