Chrono Aviation Faces Administration Amid Financial Struggles

Chrono Group, the Canadian aviation firm that operates charter airline Chrono Aviation, has entered administration as it struggles to meet financial obligations. On October 18, 2024, Quebec’s Superior Court appointed Deloitte as the administrator under Canada’s Companies’ Creditors Arrangement Act, aiming to manage the group’s financial restructuring.

Chrono Group, headquartered at Montreal Metropolitan Airport (YHU), includes several subsidiaries and operates a mixed fleet of 14 aircraft. This fleet spans from small, nine-seater Pilatus PC-12 turboprops to larger Boeing 737-800SF models, serving both passenger and cargo charter needs. The airline has been known for providing essential services to remote mining sites and settlements across Canada.

At the core of Chrono Aviation’s financial issues is an unresolved legal dispute with competitor Nolinor Aviation. The litigation, centered on contracts to supply iron mines in Canada’s far north, has hampered Chrono’s ability to secure additional funding, contributing significantly to its financial difficulties.

Chrono’s entry into administration represents a critical phase for the company as Deloitte works to stabilize its finances and assess future options. The restructuring aims to help Chrono meet creditor obligations while continuing its charter services across Canada, an effort closely watched by industry stakeholders amid a challenging market environment.

Related News : https://airguide.info/category/magazineonline/airlines/