Chorus Aviation to acquire Falko Regional Aviation
by CM Staff
The combined company will have a total of 353 owned, operated, and managed regional aircraft.
HALIFAX — Chorus Aviation Inc. has entered into a sale and purchase agreement to acquire Falko Regional Aircraft Limited.
The total consideration for the transaction is approximately US$855 million.
The transaction includes Falko’s asset management platform and Fortress’ equity interests in 1263 owned and managed regional aircraft. Chorus has stated they anticipate this will create new opportunities for growth and a differentiated business model to maximize returns on aircraft assets.
The combined company will have a total of 353 owned, operated, and managed regional aircraft. Upon closing, Chorus anticipates having 32 airline customers in 23 countries.
Brookfield and several institutional partners have agreed to make a strategic equity investment in Chorus in connection with the transaction. Upon closing the acquisition, Brookfield will invest US$374 million in Chorus.
“The acquisition of Falko is transformative for Chorus, creating a world premier full-service provider in regional aviation,” said Joe Randell, president and chief executive officer of Chorus in a statement.