Q: Hi Guys,
Poor Chorus Aviation: Getting hamered (Not justified in my opinion) along with all the airline stocks and then this news:
Chorus Aviation Falls to 52-Week Low As U.K. Air
05 Mar 202011:35 ET
(MT Newswires) -- Chorus Aviation (CHR.TO) was down more than 5% to a 52-week low after the company on Thursday said it has eight aircraft leased to Flybe, a U.K. regional airline placed under administration.
The company said Flybe leased three ATR 72-600 and five Dash 8-400 turboprop aircraft, which, Chorus said, account for less than 5% of the book value of its regional aircraft leasing segment fleet. It said it has a plan to repossess the planes and lease them to other customers.
"We are currently in negotiations with prospects for these aircraft. As noted, these aircraft represent only a small portion of the value of our leased aircraft portfolio," Steven Ridolfi president of Chorus Aviation Capital said in a release.
Chorus shares were last seen down C$0.36 to C$6.04 on the Toronto Stock Exchange, under its previous 52-week low of C$6.22.
Would you continue to hold or possibly even add to an existing position ? Thanks
Dave
Poor Chorus Aviation: Getting hamered (Not justified in my opinion) along with all the airline stocks and then this news:
Chorus Aviation Falls to 52-Week Low As U.K. Air
05 Mar 202011:35 ET
(MT Newswires) -- Chorus Aviation (CHR.TO) was down more than 5% to a 52-week low after the company on Thursday said it has eight aircraft leased to Flybe, a U.K. regional airline placed under administration.
The company said Flybe leased three ATR 72-600 and five Dash 8-400 turboprop aircraft, which, Chorus said, account for less than 5% of the book value of its regional aircraft leasing segment fleet. It said it has a plan to repossess the planes and lease them to other customers.
"We are currently in negotiations with prospects for these aircraft. As noted, these aircraft represent only a small portion of the value of our leased aircraft portfolio," Steven Ridolfi president of Chorus Aviation Capital said in a release.
Chorus shares were last seen down C$0.36 to C$6.04 on the Toronto Stock Exchange, under its previous 52-week low of C$6.22.
Would you continue to hold or possibly even add to an existing position ? Thanks
Dave