Larry Berman CFA, CMT, CTAChorus Aviation IncCHR.TOCOMMENTJan 19, 2015

Owns shares in company. Has done well the past year. Expecting further upside going forward. Dividend is expected sometime soon. Subcontracting business from Air Canada very good for reliable revenues. Price multiple not as high as it should be. 

A great Canadian small-cap. The chart shows a nice uptrend, even after an August pullback. The street sees 10% upside, though it missed its last quarter. CHR has done very well in its repair/maintenance business. If you hold, continue to. Scores 6/10 for fundamentals.

He owned it before. They operate Jazz for Air Canada. They lease and maintain airplanes, a solid business, but all airlines have been wacked since 2020. It's now a cheap stock. The story will get better. It used to pay a 5-6% dividend, not now, as the balance sheet got stretched. But there are hopes that a dividend will return, which will attract more investors.

A tough slog for investors, but the sector faces challenges. He's looking at this. Valuations are extremely cheap, and shares have bounced off $2.00, yet again (many times since 2020). But he won't enter this until there's a shift in fundamentals.

It has changed over the past few years. It is in the mid single digit ROE range and the dividend is gone. There are better specialty/leasing businesses to buy. Also TFI would be a better choice on the transportation side.

He once owned it. The chart shows declining peaks since 2021, but int he past year shows a higher high and higher low. So, there's some potential. If it challenges its last peak of $3.50, it's a good sign. Are definitely some positives in this stock, so hold on and see if it breaks out.

Converted to a leasing business of planes smaller than most major airlines use, one of the major players in the world in that space. Using cashflow to pay down debt. Talk of reinstating dividend, perhaps in 2 years. Dirt cheap. Buy it, put it away, it could be a double, though it may take a while. Undervalued.

Acquisition looked accretive, but it hasn't unfolded as anticipated. A satellite position, rather than core. The name will work. Stick with it. Pick it up cheap, but don't run out to buy. Breakup value is $5.50.

Their economic book value falls below his standards. The market is suspicious of its balance sheet. He is watching this, not buying it. We'll see what happens with airlines this coming year.

Like the larger AC, these shares have come off but are seeing a bounce. The reopening of more and more travel will benefit CHR. However, North American fundamentals in airlines may not be as strong as Asian or Europe. CHR could see less performance than the larger and more global Air Canada, but this bounce in CHR should continue for the next little while.

Long term is a good investment, but not good for short term investors.
Re-opening of travel economy will be good for business.
Aviation industry recovering strongly.
Waiting to see how business performs in the near future. 

Dividend model spin out of Air Canada.
Airline leasing business very hard on company.
Dividend elimination very tough on investor confidence.
Unsure of future of dividend restoration .
Would not buy.

Exposure to airline business without major airline liability.
Large dividends provide value in the past (suspended right now).
Better names to get exposure to increased travel activity.