ATLANTIC

Chorus Aviation posts Q2 higher net profit, higher revenue

The Canadian Press Published Thursday, August 14, 2014 9:25AM ADT

Halifax-based Chorus Aviation operates Air Canada Express flights under a capacity purchase agreement

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HALIFAX -- Chorus Aviation Inc. reports a higher second-quarter net profit of $36.5 million and its revenues were up almost two per cent.

The Halifax-based airline earned 30 cents per share, compared with $7.9 million, or six cents per share, in the same quarter last year.

Operating revenue was $417.8 million, an increase of 1.8 per cent from $410 million in the same quarter of 2013.

Excluding one-time items, adjusted net income was $22.2 million, or 18 cents per share, up from $21.4 million, or 17 cents per share. year-over-year.

In the second quarter, Chorus (TSX:CHR.B) had an unrealized foreign exchange gain of $14.3 million versus an unrealized foreign exchange loss of $13.5 million in the same period of 2013.

Chorus operates Air Canada Express flights under a capacity purchase agreement with Air Canada as well as offering charter service under the Jazz banner. It was formed in 2001 when Air Canada combined four regional carriers into one.