Chorus Aviation agrees to sell aircraft leasing segment for $1.9bn to HPS Investment Partners affiliates.

Chorus Aviation, a Halifax-based regional airline, has agreed to sell its aircraft leasing segment for $1.9bn to affiliates of HPS Investment Partners, a New York firm. The deal, which includes $814m in cash and $1.1bn in aircraft debt to be assumed or prepaid by the buyers at closing, is subject to approval from at least two-thirds of Chorus' common shareholders. The sale is expected to reduce Chorus's debt and pave the way for shareholder returns.