Chorus Aviation Inc (CHR.TO) Buy, Sell or Hold

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Chorus Aviation Inc (CHR.TO)

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23.89

-0.20 (0.83%)

as of Jun 5, 2026, 8:00:00 pm Market Open.

223 watching

DON'T BUY

They run the regional planes and for an airline, they have a reasonable business proposition that they don't pay for fuel costs and just get money from Air Canada for running it. They are in a fight right now with Air Canada and there should be an announcement very soon. Anything with a 20% yield is screaming danger at you.

DON'T BUY

Yield is about 19%. Very challenging industry. They have the Air Canada and Jazz business along with the Thomas Cook. If something is yielding 19%, there has to be a reason and there is danger of a cut in the distribution.

WAIT

You have to be concerned with an almost 20% interest rate in this low interest rate environment. But they are under contract with Air Canada until 2020. What they are paid has to come down over time. A great play on fuel coming down.

DON'T BUY

Likes their management. The biggest mover for them is employment costs. There are ongoing difficulties between Air Canada management and employees and that spills over into this company. Not sure that that difficulty has passed just yet so he is a little cautious with both Air Canada and this company. If you believe the Canadian economy might be a little overextended, there could be a slowdown that would affect this company.

COMMENT

This is the old Jazz income trust. Has done very well from an income perspective but it is associated with Air Canada and currently is going through a struggle with renegotiating their contract with them. Thinks the 19.5% yield is sustainable but depends on how the end-of-the-year contract with Air Canada gets resolved.

DON'T BUY

Well-managed company. Dividend of 17% tells him that the yield is expected to go down. Only have one client so it is hard to negotiate. He feels the market is saying it is really a 7% stock. It’s a good business and they are good managers. The distribution is going to be cut.

HOLD

9.5% Convertible Debenture maturing Dec 31/14. Not trading at a premium because of the conversion value but because of the coupon. He is not generally a fan of airline bonds but this one has a fairly low debt levels and good interest coverage.

DON'T BUY

Airline with some of the smaller regional Cdn routes. Load factor is quite good. Yield of 14%. Will have to spend money on new planes in the next little while, which will increase their debt. He would prefer Cargojet (CJT-T).

SELL

Doesn’t have much in terms of drivers and is expensive on a price book basis.

DON'T BUY

Yield of 14% is questionable. A reasonably cyclical business.

DON'T BUY

Operates some of the regional airlines. It’s like junk air Canada debt. Yield sustainability is based on debt rating of Air Canada. Leary of jumping into it.

HOLD

Good yield of about 11%. Paying out most of what they are generating. Reasonably safe.

DON'T BUY

2nd largest regional airline in Canada. Over 100% payout ratio. Have to buy 15 Q400 aircraft, which they originally thought they would lease. Prefers Cargojet (CJT.UN-T) that has 50% market share, lower payout ratio and lower debt levels.

COMMENT

Converting to a corp and management believes the distribution is sustainable when they convert. Doesn’t see a lot of growth at a reasonable price. Looking for other avenues of growth, which will delay things.

DON'T BUY

He did not like this as a income trust. It is folly as having an airline as an income trust. Would not go near this.

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Chorus Aviation Inc (CHR.TO)