In the first quarter of 2021, Chorus Aviation announced a net loss of $38.1 million, a decrease of $20.8 million due to one-time restructuring costs related to the 2021 capacity purchase agreement (CPA) amendments with Air Canada of $81.8 million, which was offset by the changes in unrealized foreign exchange of $45.4 million and income taxes. Chorus Aviation’s adjusted net income was $15.7 million for the quarter, a drop of $8.1 million compared to the year-ago period primarily due to the impact of COVID-19. The company has liquidity of $171.3 million. In the first quarter period, Chorus Aviation collected approximately

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