04/26/2016 08:04 EDT | Updated 04/27/2017 01:12 EDT

Chorus Aviation buys five Bombardier CRJ 900 regional jets

HALIFAX — Chorus Aviation Inc. (TSX:CHR.B) has signed a deal to buy five Bombardier CRJ900 regional jets and acquire purchase rights for five additional aircraft.

Based on the list price of the aircraft, Bombardier (TSX:BBD.B) said the firm order is valued at about US$229 million US and could increase to US$467 if the purchase rights are exercised.

The five aircraft will be operated under the Air Canada Express brand under Chorus's capacity purchase agreement with Air Canada.

They are expected enter into service in early 2017.

The Canadian Press