David Ocampo with Cormark Securities, your line is open. And we are awaiting further details. The $4.1 million reduction in earnings related to the credit provision you've taken, is that related to a single entity, or is that multiple airlines that you've taken some provisions on? So we're having those discussions and the fleet commitment remains in place in the CPA. So what happens is, we recognize the revenue as we go through each quarter related to the controllable costs guardrail. Doug Taylor with Canaccord Genuity, your line is open. It was 58% in October, and we're cautiously optimistic around that, but we continue to evaluate the lessee. We continue to work closely with Air Canada to help support its network and to reduce costs. Adjusted net income was $10.9 million for the quarter, a decrease of $18.2 million due to a $6.8 million decrease in adjusted EBITDA, as previously described, an increase in depreciation of $4.5 million, primarily related to additional aircraft in the regional aircraft leasing segment, an increase in net interest cost of $7.6 million, primarily related to the 5.75% unsecured debentures, the unsecured revolving credit facility, and additional aircraft debt in the regional aircraft leasing segment, and an increase of $3 million in realized foreign exchange and unrealized foreign exchange losses on working capital, offset by a $3 million decrease in adjusted income tax expense. By checking this box, I agree to the terms of service and privacy policy of Rogers Media. [Operator instructions] (Walter Spracklin) with RBC Capital Markets, your line is open. It sounds as though receivable headwinds in leasing are expected to be partially offset by security packages. An error has occurred while trying to update your details. Please refer to our MD&A for a discussion relating to the use of such non-GAAP measures. And then in Q1 next year, we'll collect that and it'll go back into cash. And perhaps, should we think about this as a more permanent stepdown now, given the state of the industry? We do not have anything further to say on this matter at this time. We expect to remain relatively constant quarter, in around that $200 million that we talked about in Q2 as far as liquidity goes. The Halifax-based company’s shares dipped as low as $3.23 before climbing to $3.60 in midday trading, down 10 cents or […] Adjusted net income was $10.9 million, an $18.2 million decrease over last year, which led to a decrease in adjusted EPS at $0.07 versus $0.18 last year. Send me promotions, surveys and info from NEWS 1130 and other Rogers brands. In the quarter, our CPA flying increased from 10% to 23% over the second quarter of this year. This improvement was primarily due to positive operating cash flows, working capital improvements resulting from increased flight operations, and the financing of previously unencumbered aircraft. In Canada, the multiple layers of fees and charges levied on passengers and airlines by various levels of government, have greatly increased over the years, and have had a disproportionately negative impact on regional services. Chorus Aviation Inc. analyst ratings, historical stock prices, earnings estimates & actuals. This report by The Canadian Press was first published Nov. 11, 2020. As mentioned above, working capital improved in the quarter, primarily related to increased accounts payable, due to increased airline operations over the second quarter, in addition to increased interest accruals related to the timing of debenture interest payments, and interest associated with the loan deferral program, partially offset by an increase in Air Canada receivables and CAC lease deferral receivables. Okay. But maybe you can comment on your discussions with Air Canada. I was wondering if you're able to unpack some of the detail in the working capital trends expected during Q4 and perhaps even Q1 as well. This will allow an improved application of any quarantine restrictions. Thank you. Revenue for the three months ended Sept. 30 was $196.4 million, down 44.1 per cent from $351.4 million in the prior year. We are taking all reasonable measures to protect and preserve our company. {* traditionalSignIn_signInButton *}, {* backButton *} Demand for air service will only return when people are confident that - when people have confidence that their health and safety are protected, and when the requirement for quarantine is reduced or eliminated. I mean, are you planning any other liquidity enhancement measures outside of your general cash flow for Q4 to help keep it at that $200 million level? Is it fair to assume a modest working capital headwind in Q4? This is Jazz's fourth consecutive year accepting awards at The Canada's Safest Employers event. Q4 is always - if you look at even the CPA division and passenger traffic in general, it's always a slower period. Our efforts continue to focus on ensuring safe operations, preserving our liquidity, and working with Air Canada and other customers to help them navigate through this ongoing pandemic. My sincerest congratulations to the team. It's a great, bright spot to have these days. We thank you for your participation. But we’re prepared around that piece. See CHORUS AVIATION INC (CHR.TO) stock analyst estimates, including earnings and revenue, EPS, upgrades and downgrades. Unfortunately, COVID-19 continues to spread around the world. Aircraft-related acquisitions are expected to be between $417 million and $426 million, down $64 million from previous disclosure, as a result of two aircraft for an undisclosed customer to be moved to 2021, and a decrease in foreign exchange rates. The remaining deliveries are subject to financing and certain closing terms. We are encouraged by the public statements made by the honorable Marc Garneau, Canada's Minister of Transport, on November 8, to begin immediate discussions with airlines on measures to protect Canadians from the impacts of COVID-19 on the air travel sector in Canada. First of all, I mean, Air Baltic, are they among the members of your lessee that are current with their payments? We still believe the regional sector is the most resilient of the industry, with domestic travel being the first to resume. Chorus said it earned $20.5 million or 13 cents per share in the quarter, down 15.4 per cent from $24.2 million or 15 cents per share. So I think you can model overall based on the guidance we've given you, the CPA guardrails and the lease receivables in the deferrals, and you can get a pretty good idea. While the pilot programs underway in Calgary and Toronto to safely test an alternative to the two-week quarantine for international travelers, are positive steps, much - more such programs are needed, especially with the Atlantic bubble. And I think the COVID environment is probably a little more than normal. This report by The Canadian Press was first published Nov. 11, 2020. Pfizer vaccine data and anticipated financial aid from the Canadian government) have helped shift the narrative from survival to recovery," said Walter Spracklin of RBC Dominion Services. You know, it is a dynamic situation in the marketplace. I think you can assume a modest one. Secondly, I will not be providing any comments on the preliminary non-binding acquisition proposal we received last month, except to emphasize that the disclosure was made at the request of (IRAC). The timing of that is quite fluid, and we don't know exactly where it's going to happen, but that is it for the current commitments. Canadian airlines are significant contributors to economic growth in Canada. HALIFAX — Shares of Chorus Aviation Inc. fell as much as 12.7 per cent Wednesday after the regional aviation company reported third-quarter results that missed expectations as it continues to feel the effects of COVID-19. We continue to monitor our lessees. In addition, some of the following discussions involve certain non-GAAP financial measures, including references to EBITDA, adjusted EBITDA, adjusted EBT and adjusted net income. We still have two to an undisclosed customer sometime next year. You may now disconnect. The Halifax-based company’s shares dipped as low as $3.23 before climbing to $3.60 in midday trading, down 10 cents or 2.7 per cent. And what ends up happening is, you'll see the receivable bills, there'll be in the accounts receivable balance, obviously reducing our cash. We were also pleased to see this trend continue further, with further improvement in October, with the receipt of approximately 58% in build lease payments. And the CRJ900s will be delivered by the end of the year. Again, we urge government to act swiftly to implement current science-based approaches to COVID-19 testing of passengers, to help support the recovery of passenger demand. Have a great day. Sign in or register for your free account, Brookfield Asset Management looks to grow reinsurance business with new entity, S&P/TSX composite down in early trading, U.S. stock markets mixed, Landlord's attempt to evict HBC blocked – for now – but retailer ordered to pay rent. Was the payments recognized in the income statement for each respective quarter, or is that something that's going to all appear in Q1? That's helpful. So, we - this is Gary here. While our parts sales division is challenged due to the pandemic, our MRO activity has increased after winning several new contracts in the second quarter. Okay. [Operator Instructions]. So, just kind of trying to wrap my head around it. We will now conclude the call and thank everyone for dialing in. CHR.CA updated stock price target summary. Just to quickly kind of start off here.