The leasing subsidiary of Chorus Aviation has just announced the signing of an agreement with Air Baltic. The agreement provides that Chorus Aviation will finance Air Baltic two A220-300 to be delivered by the end of 2019. Three additional aircraft will be delivered to Air Baltic before the end of the third quarter of 2020.
With this agreement, Chorus Aviation is venturing into the financing of aircraft of more than 120 passengers. Its portfolio of aircraft in management will rise to 60 with this contract. This is also the first time that it will finance Airbus aircraft. Created to diversify its revenues, the leasing subsidiary is becoming the main source of Chorus Aviation’s profits. This is Chorus Aviation’s second agreement with Air Baltic since it also performs heavy maintenance on its Q-400s.
For Air-Baltic, these five aircraft will bring its fleet of A220-300s to 35. It is probable that it will finance further deliveries in 2020 with other creditors. In early 2019, Air Baltic CEO’s, Mr. Martins Gauss, wanted to launch a new discount carrier in Europe. He wanted to use the A220-300 and he said he needed time to find financing. Then we didn’t heard any more about it even if the goal was to launch this new carrier by 2020. Is there an announcement coming up?
On a lighter note: Air Baltic buys Canadian made aircraft, finds financing in Canada, has heavy maintenance aircraft being done her and even employs Canadian pilots. This is to wonder when she will open the Montreal-Riga route.>>> Follow us on Facebook and Twitter