Posted on: 20 September 2018 by Mark Howells
Canadian lessor Chorus Aviation has sealed lease agreements with Philippine Airlines (PAL) for a trio of new Bombardier Q400 aircraft.
The new turboprops are scheduled for delivery to PAL between now and the end of the year, and mark Halifax-headquartered Chorus’ first leasing transaction in the fast-growing Southeast Asia region.
Chorus Aviation Capital’s president, Steven Ridolfi, said “Philippine Airlines is a celebrated airline with a long and renowned history as the flag carrier of the Philippines, and we are very proud to count them amongst our customers.”
PAL’s president and chief operating officer, Jaime J. Bautista, said, “We are very pleased to form this working partnership with Chorus Aviation Capital and we look forward to building business ties with them. By joining their growing portfolio of aircraft lessees, Philippine Airlines will be able to further grow its domestic market. New aircraft help us to build new air links and increase flight frequencies on routes that are vital to national commerce.”
Joe Randell, president and chief executive officer of Chorus, added the deal demonstrated “our ability to originate our own deals directly with airlines and go after new, high-growth markets.” Chorus has been leasing regional aircraft into Jazz’s Air Canada Express operation since 2009.
The company also earlier this week purchased an ATR 72-600 turboprop with an existing lease attached, expanding its relationship with Brazil’s Azul Airlines.
Ridolfi said the aircraft is the third it has on lease to Azul and, with other pending transactions, brings Chorus’ total leased fleet to 70 aircraft.