Chorus Aviation Posts Lower Q2 Profit
By Maneesha Tiwari, Reuters | Aug. 04, 2011
Canada's Chorus Aviation Inc posted a lower second-quarter profit, hurt mainly by a rise in operating costs.
Net income for the quarter fell by C$4.3 million to C$16.9 million, or 14 Canadian cents a share, from a year earlier.
Chorus said total operating costs rose almost 12 percent to C$378.1 million.
Operating revenue increased 12 percent to C$402 million.
In January, the company, formerly known as Jazz Air Income Fund, became a corporation and changed its name to Chorus Aviation.
Shares of the Montreal, Quebec-based company closed at C$4.36 on Thursday on the Toronto Stock Exchange.