Air Canada closes C$100m Jazz investment

Flightglobal | February 05, 2019

Air Canada closes C$100m Jazz investment
Air Canada has invested C$97.3 million ($74.1 million) in regional carrier Jazz Aviation's parent company, having closed a previously announced agreement under which Jazz will also acquire nine additional Bombardier CRJ900 regional jets.The agreement extends the carriers' contract through the end of 2035 while reducing the fees Jazz charges to Air Canada. It calls for Jazz to stop flying aging Dash 8-100 turboprops, reduce its Q400 fleet and fly more 50-seat Bombardier CRJ200s Montreal-based Air Canada and Jazz parent Chorus, based in Halifax, have positioned the deal as responding to threatening competition. They do not name competitors, but in recent years Air Canada has faced threats from rapidly expanding WestJet and from new ultra-discount startups.

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Spotlight

Inmarsat has a long-standing commitment to aviation safety services: airlines the world over trust our range of market leading, secure and reliable connectivity solutions that set the standard for flight deck communications. More than 95% of the world’s oceanic fleet and over 11,500 aircraft use Inmarsat safety and operational services for communication and surveillance today.