Elevate your local knowledge
Sign up for the iNFOnews newsletter today!
Chorus acquisition proposal talks end without deal, potential investment talks remain
HALIFAX – Chorus Aviation Inc. says an acquisition proposal from an unnamed bidder that it received last fall is no longer being considered, but that it remains in talks regarding a potential investment.
The aviation company said in October that it had received a preliminary, non-binding acquisition proposal that was subject to a number of significant conditions.
The comments came as Chorus reported a fourth-quarter profit of $9.2 million, down from $36.6 million a year earlier, as travel restrictions due to the pandemic hurt demand.
The profit amounted to six cents per diluted share for the quarter, down from 23 cents per diluted share a year earlier.
Operating revenue totalled $218.2 million, down from $338.6 million.
On an adjusted basis, Chorus says it earned five cents per share for the quarter, down from 15 cents per share a year earlier.
This report by The Canadian Press was first published Feb. 19, 2021.
Companies in this story: (TSX:CHR)
News from © iNFOnews.ca, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
