Seabury advised Chorus on its new CPA with Air Canada

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By admin February 2, 2015 20:21

Seabury advised Chorus on its new CPA with Air Canada

Seabury Group (Seabury), a leading global advisory and professional services firm, announced today that it has advised Canada-based Chorus Aviation Inc. (Chorus) on the successful completion of its new Capacity Purchase Agreement (CPA) with Air Canada and its wholly owned subsidiary Jazz Aviation LP (Jazz) with respect to the 11-year collective agreement with its pilots, represented by the Air Line Pilots Association (ALPA).

“Seabury was pleased to have had the opportunity to advise the Chorus management and its Board over the last 24-month period and work collaboratively and creatively with management teams from both Air Canada and Chorus to achieve this exceptional outcome for both organizations. At the outset, all parties were stymied with respect to solving a very difficult and complex set of issues, and only through hard work and perseverance by all did the outcome come into being,” said Seabury Chairman & Chief Executive Officer John E. Luth. “We are honored by the trust placed in Seabury by both parties to have assisted in bringing about this landmark set of agreements.”

“We are transforming Chorus to become a more formidable competitor in the regional aviation industry,” said Chorus President and Chief Executive Officer Joseph Randell. “The time is right to restructure the CPA as it was no longer competitive in the ever-changing regional environment. Significant achievements such as the simplification and modernization of our fleet combined with an industry-leading agreement with our pilots, and a new compensation structure under the CPA all serve as catalysts to secure our cornerstone business with our customer Air Canada, and to create incremental value through growth and diversification. I would also like to thank Seabury for serving as our strategic advisor throughout the process. Our management team and Seabury worked very well together which shows in the final results.”

admin
By admin February 2, 2015 20:21