Chorus Aviation reports slight fall in Q3 revenue

Canada-based airline operator Chorus Aviation’s operating revenue fell by 0.8% to CND 432.3m in the third quarter of 2013. Passenger revenue increased however by 0.7% due to rate increases made pursuant to the Capacity Purchase Agreement (CPA) with Air Canada, a higher US dollar exchange rate and a CND 1.0m increase in incentives earned under the CPA with Air Canada; offset by decreased CPA billable block hours. Operating expenses fell by 1.6% to CND 393.0m, while controllable costs decreased by 0.5% and pass-through costs decreased by 3.1%.