Chorus Aviation Launches $36M Share Buyback Program
Chorus Aviation has announced a CAD50 million (USD36 million) share repurchase program aimed at returning capital to shareholders and signaling confidence in the company’s long-term prospects. The buyback will be conducted through a “modified Dutch auction,” allowing shareholders to tender shares within a price range of CAD23 to CAD25 (USD16.60–18.10) per share.
According to Chorus, the offer will officially launch on September 26, 2025, and will close at 5:00 p.m. local time (2000Z) unless extended or withdrawn. This structure enables shareholders to choose the price at which they are willing to sell, with the final purchase price determined once all offers are submitted.
Chorus Aviation’s board of directors said the move reflects a strategic use of the company’s strong cash position and access to capital markets. The board also believes the recent trading price of its shares does not fully represent the value of the business or its future growth prospects. Over the past year, Chorus shares have traded between CAD17.91 and CAD24.05 (USD12.95–17.40).
The company, which owns regional carrier Jazz Air and charter operator Voyageur Airways, as well as aviation training and consultancy businesses like Cygnet Aviation Academy and Elisen & Associates, has been expanding its aviation services footprint while maintaining a solid balance sheet.
By repurchasing shares, Chorus aims to enhance shareholder value and signal confidence in its diversified aviation portfolio, which spans regional airline operations, aircraft leasing, training, and maintenance services across Canada and internationally.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com