Fairfax invests $200 mln in launch of Chorus Aviation Capital

Chorus Aviation Inc (TSX: CHR), owner of Jazz Aviation and Voyageur Aviation, has launched Chorus Aviation Capital, a regional aircraft leasing subsidiary. The new affiliate, which will be led by President Steven Ridolfi, will be backed by a $200 million investment by Canadian holding company Fairfax Financial Holdings Ltd. Fairfax will acquire convertible debt units of Chorus, which if fully exercised will give the investor about 16.5 percent of all issued and outstanding shares. The proceeds will be used in part to fund the growth of Chorus Aviation Capital. Chorus has its headquarters in Halifax.

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