Chorus Aviation, parent to Canadian operator Jazz Air (QK, Halifax), says it has completed its acquisition of 519222 Ontario Limited, the holding company that owns Voyageur Airways (VAL, North Bay) and its related companies, for CAD80 million (USD63 million).

"Utilizing cash on hand, Chorus paid CAD47.0 million and issued CAD8.0 million in Chorus Class B Voting Shares to Max Shapiro, sole owner of Voyageur. Approximately CAD25 million in deferred cash payments will be paid in separate instalments over the next 36 month period," Chorus said in a statement.

Founded in 1968, Voyageur is headquartered in North Bay, Ontario offering advanced engineering and maintenance capabilities as well as specialized aviation services, including contract flying operations both internationally and domestically. Its fleet consists of ten CRJ200s, five DHC-7-100s, and five DHC-8-300s.

As such, Voyageur's acquisition will boost Chorus Aviation's existing flight operations network while at the same time enhancing its maintenance capabilities.