Chorus Aviation reports $38.9M Q2 profit boosted by unrealized forex gains
Chorus, which has been growing its regional aircraft leasing business, reported profit was up from $16.2 million in the same quarter last year
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.