Enter your email address to get a new one.
Please contact us. The board of directors has also taken a 25-per-cent cut in fees.
“We’re prudently and responsibly managing our financial resources to secure our future and eliminating all discretionary cash outflows thus requiring a suspension of our dividend,” he said. Your existing password has not been changed.
This is a space where subscribers can engage with each other and Globe staff. Welcome to The Globe and Mail’s comment community. Chorus explains it is suspending its dividend following payment of the previously declared dividend payable on April 17, 2020, to shareholders of record on March 31, 2020.
That means: Comments that violate our community guidelines will be removed. Get breaking news, weather and traffic stories in your inbox 7 days a week, 24 hours a day. {* forgotPassword_sendButton *}, {* backButton *} Readers can also interact with The Globe on Facebook and Twitter . As such, Chorus expects a corresponding delay in anticipated leasing revenue under the CPA for these aircraft.
Learn more: https://t.co/P4C22vz9Pb. Chorus Aviation declared a monthly dividend on Friday, March 20th. © Copyright 2020 The Globe and Mail Inc. All rights reserved. Enter your email below and we'll send you another email.
Wings Staff. The company, which operates regional aircraft for Air Canada, said its main customer and partner has slashed its network-wide capacity in the second quarter. In addition, chief executive Joe Randell will forgo 70 per cent of his salary and members of the executive team will forgo up to 50 per cent of their salary, the company said. NAV CANADA introduces ATC service in Red Deer, Leonardo outlines progress of Cormorant upgrade project at MASS, Twenty questions with new 5 Wing commander Guy Parisien, CAE lays off 2,600 employees, designs ventilator, GTAA outlines COVID-19 impact, need for more government support.
{* legalAcceptanceAcceptButton *}, {* backButton *} Chorus expects all these deliveries will be deferred.
{* traditionalSignIn_signInButton *}, {* backButton *} Companies in this story: (TSX:CHR, TSX:AC). By HALIFAX — Chorus Aviation Inc. is suspending its dividend, temporarily laying off staff and cutting executive salaries as it deals with the fallout from COVID-19. Chorus also notes, that as with many leasing companies, it has received requests from substantially all of its Regional Aircraft Leasing segment customers for some form of temporary rent relief. This is a space where subscribers can engage with each other and Globe staff.
The company is also in the process of raising approximately US$30 to US$50 million in financing to be secured by up to four unencumbered aircraft.
Follow topics and authors relevant to your reading interests. The company, which operates regional aircraft for Air Canada, said its main customer and partner has slashed its network … If you are looking to give feedback on our new site, please send it along to, To view this site properly, enable cookies in your browser. Members of the air detachment on board HMCS HALIFAX disarm an MK-46 Torpedo on a CH-148 Cyclone helicopter as part of a training exercise during Operation REASSURANCE, in the Atlantic Ocean, on July 15, #RCAF #RCAFProud, Transportation Safety Board tables annual report, highlighting the downward trend in Canadian-registered-aircraft accidents and the agency’s more efficient investigation process. Avoid the use of toxic and offensive language. Chorus also notes Voyageur’s MRO operation continues in servicing essential aviation customer requirements.
Chorus points to the International Air Transport Association currently estimating a US$252 billion year-on-year loss in passenger revenue worldwide. You have activated your account, please feel free to browse our exclusive contests, videos and content.
It says its Air Canada Express flying has been reduced by approximately 90 per cent for April and May, resulting in significant temporary employee reductions. This article was published more than 6 months ago. Required fields are marked *, This week, astronauts on board the @Space_Station will use #Canadarm2 to perform a “cosmic catch” – capturing a @SpaceX Dragon cargo vehicle and berthing it to the Station.
The company, which operates regional aircraft for Air Canada, says its main customer and partner has slashed its network-wide capacity in the second quarter. “Our industry is facing its worst crisis in history. In addition to the temporary layoffs noted above, Joe Randell, president and CEO of Chorus, will forgo 70 per cent of his salary, members of the executive team will forgo up to 50 per cent of their salary, and the board of directors has taken a 25 per cent reduction in fees. All rights reserved.
Chorus’ Air Canada Express flying has been reduced by approximately 90 per cent for April and May, in line with an earlier announcement from Air Canada that it is implementing a second quarter, network-wide capacity reduction of approximately 85 to 90 per cent. {* createAccountButton *}, You may have created a profile with another. “We entered this predicament from our strongest position ever, and it’s devastating to be sending approximately 3,000 employees home, given the successes we’ve achieved together.”. Your email address will not be published. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Get caught up on the day's top stories and videos, along with the weather webcast and what's in store for CityNews Tonight at 11 p.m. and tomorrow on Breakfast Television.
An Air Canada Jazz aircraft sits at a terminal at the Ottawa airport on April 13, 2012. , THE CANADIAN PRESS/Adrian Wyld. Describing the rapid and dramatic impact of this pandemic as astounding, Randell continues to explain Chorus is taking all measures to ensure the safety of its employees, mitigate costs, bolster liquidity and strengthen relationships with customers. https://t.co/VGQnqn70jS, It's a Torpedo Toting #TechTuesday! Voyageur is experiencing continued demand overseas, explains Chorus, to support humanitarian efforts, contracted flying for cargo services, and there has been no interruption to the air ambulance operation in New Brunswick.
Welcome to The Globe and Mail’s comment community. This report by The Canadian Press was first published April 6, 2020. Chorus Aviation Inc. is suspending its dividend, temporarily laying off staff and cutting executive salaries as it deals with the fallout from COVID-19.