Jazz Air posts $15 million first-quarter profit
Published: June 2, 2011
Jazz Air parent Chorus Aviation reported net income of C$ 14.7 million ($ 15.1 million) for the first quarter ended March 31, a slight decrease from a C$ 16.4 million net profit in the 2010 first quarter. Operating profit of C$ 21.6 million was up 36.2% year-over-year as revenue lifted 24.7% to C$ 443 million.
“We believe that our overall strategy and continued focus on cost management will serve us well and contribute to our long-term success,” President and CEO Joseph Randell said. Last month the carrier took delivery of its first Bombardier Q400 NextGen aircraft. “I’m confident this milestone will create more value for our stakeholders as a result of its enviable fuel burn efficiency and operating economics,” he stated (ATW Daily News, May 3, 2010).