History
Established in 2001 as Air Canada Regional Inc. from the consolidation of the Air Canada connector carriers Air BC, Air Nova, Air Ontario and Canadian Regional Airlines (shortly after the successful merger between Canadian Airlines and Air Canada). The merger was finalised in 2002 with the creation of a new brand-Air Canada Jazz. As of April 2011, it employed 5,081 people.
The airline successfully launched an initial public offering (IPO) in February 2006 – units of the income trust trade as JAZ.UN.
In February 2006, Air Canada announced that City Centre Aviation Limited (CCAL) had served a 30-day termination notice for Jazz's month-to-month lease of terminal space at Toronto City Centre Airport. The Toronto Port Authority itself does not control any significant terminal space at the airport, but it extended permission for Jazz to continue using the airport; however, since the airline could not find terminal space, they cancelled service to the airport at the end of February 2006. CCAL had been bought by REGCO Holdings, (now Porter Aviation Holdings), the owners of Porter Airlines, which launched service from the airport later that year.
In 2006, ACE Aviation Holdings sold off all of their Air Canada Jazz assets. Air Canada Jazz was then an independent company known as Jazz Air Income Fund.
In August 2008, Jazz Air removed all life jackets from its aircraft in order to lower fuel costs. According to the airline, passengers are to use floating seat cushions in the event of an emergency over water. The airline also stated that an event of a water landing on the regional airline routes was almost zero, as there is no operation over great bodies of water except for the Great Lakes and that in all circumstances, the airline always remains within 50 nautical miles (93 km) from land, as stipulated in the law, which removes the obligation from carrying any flotation devices.
On 15 November 2010, the airline was restructured and changed its name to Chorus Aviation, became a public corporation and will be traded as "CHR" at the Toronto Stock Exchange.
Read more about this topic: Jazz (airline)
Famous quotes containing the word history:
“You that would judge me do not judge alone
This book or that, come to this hallowed place
Where my friends’ portraits hang and look thereon;
Ireland’s history in their lineaments trace;
Think where man’s glory most begins and ends
And say my glory was I had such friends.”
—William Butler Yeats (1865–1939)
“In history the great moment is, when the savage is just ceasing to be a savage, with all his hairy Pelasgic strength directed on his opening sense of beauty;—and you have Pericles and Phidias,—and not yet passed over into the Corinthian civility. Everything good in nature and in the world is in that moment of transition, when the swarthy juices still flow plentifully from nature, but their astrigency or acridity is got out by ethics and humanity.”
—Ralph Waldo Emerson (1803–1882)
“The history of medicine is the history of the unusual.”
—Robert M. Fresco, and Jack Arnold. Prof. Gerald Deemer (Leo G. Carroll)