Chorus Aviation provides update on benchmarking arbitration timing

Chorus Aviation provides update on benchmarking arbitration timing 
HALIFAX, May 3, 2013 /CNW/ - Chorus Aviation Inc. ("Chorus") (TSX: CHR.B CHR.A 
CHR.DB) today provided an update on the expected timing of the arbitration 
relating to the benchmarking provisions in the Capacity Purchase Agreement 
('CPA') with Air Canada. 
On February 20, 2013 Chorus confirmed the next hearing before the arbitration 
panel would take place in April 2013. The hearing occurred as scheduled, but 
the parties did not complete their respective submissions within the time 
available. As a result, further hearing dates have been scheduled for July 
2013 and a date for oral argument in September 2013. 
"The benchmarking arbitration is proving to be an extended process that 
unfortunately won't likely be concluded before the fourth quarter of this 
year," said Joe Randell, President and Chief Executive Officer, Chorus. "We 
remain confident in our position that the controllable mark-up of 12.5% in our 
Capacity Purchase Agreement with Air Canada should not change as a result of 
this benchmarking exercise. While this process is outside of our control, we 
continue to believe this period of uncertainty will result in a positive 
conclusion." 
Caution regarding forward-looking information 
Certain statements in this news release may contain statements which are 
forward-looking. These forward-looking statements are identified by the use of 
terms and phrases such as "anticipate", "believe", "could", "estimate", 
"expect", "intend", "may", "plan", "predict", "project", "will", "would", and 
similar terms and phrases, including references to assumptions. Such 
statements may involve but are not limited to comments with respect to 
strategies, expectations, planned operations or future actions. 
Forward-looking statements relate to analyses and other information that are 
based on forecasts of future results, estimates of amounts not yet 
determinable and other uncertain events. Forward-looking statements, by their 
nature, are based on assumptions, including those described below, and are 
subject to important risks and uncertainties. Any forecasts or forward-looking 
predictions or statements cannot be relied upon due to, amongst other things, 
changing external events and general uncertainties of the business. Such 
statements involve known and unknown risks, uncertainties and other factors 
that may cause the actual results, performance or achievements to differ 
materially from those expressed in the forward-looking statements. Results 
indicated in forward-looking statements may differ materially from actual 
results for a number of reasons, including without limitation, risks relating 
to Chorus' relationship with Air Canada, risks relating to the airline 
industry, energy prices, general industry, market, credit, and economic 
conditions, competition, insurance issues and costs, supply issues, war, 
terrorist attacks, epidemic diseases, acts of God, changes in demand due to 
the seasonal nature of the business, the ability to reduce operating costs and 
employee counts, secure financing, employee relations, labour negotiations or 
disputes, restructuring, pension issues, currency exchange and interest rates, 
leverage and restructure covenants in future indebtedness, dilution of Chorus 
shareholders, uncertainty of dividend payments, managing growth, changes in 
laws, adverse regulatory developments or proceedings, pending and future 
litigation and actions by third parties. The forward-looking statements 
contained in this discussion represent Chorus' expectations as of May 3, 2013, 
and are subject to change after such date. However, Chorus disclaims any 
intention or obligation to update or revise any forward-looking statements 
whether as a result of new information, future events or otherwise, except as 
required under applicable securities regulations. 
About Chorus Aviation Inc. 
Chorus Aviation Inc. ("Chorus") was incorporated on September 27, 2010 and is 
a dividend-paying holding company which owns Jazz Aviation LP, and Chorus 
Leasing III Inc. 
Chorus is traded on the Toronto Stock Exchange under the trading symbols of 
CHR.A, CHR.B and CHR.DB. 
For more information, visit www.chorusaviation.ca   
Media Contacts: 
Manon Stuart(902) 873-5054 Halifax, Nova Scotiamanon.stuart@flyjazz.ca 
Analyst Contact: 
Nathalie Megann(902) 873-5094 Halifax, Nova 
Scotianmegann@chorusaviation.ca 
www.chorusaviation.ca 
SOURCE: CHORUS AVIATION INC. 
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http://www.newswire.ca/en/releases/archive/May2013/03/c3551.html 
CO: Jazz
ST: Nova Scotia
NI: AIR ORDER  
-0- May/03/2013 21:30 GMT
 
 
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