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:
“The history of all previous societies has been the history of class struggles.”
—Karl Marx (1818–1883)
“We know only a single science, the science of history. One can look at history from two sides and divide it into the history of nature and the history of men. However, the two sides are not to be divided off; as long as men exist the history of nature and the history of men are mutually conditioned.”
—Karl Marx (1818–1883)
“Throughout the history of commercial life nobody has ever quite liked the commission man. His function is too vague, his presence always seems one too many, his profit looks too easy, and even when you admit that he has a necessary function, you feel that this function is, as it were, a personification of something that in an ethical society would not need to exist. If people could deal with one another honestly, they would not need agents.”
—Raymond Chandler (1888–1959)