Chorus Aviation has announced a CAD50 million Canadian dollar (USD36 million) share buyback from shareholders at a cash purchase range of CAD23 to CAD25 (USD16.60-18.10).

The offer will proceed via a “modified Dutch auction” that allows shareholders wishing to participate to individually select the price within the specified range at which they are willing to sell their shares, Chorus explained in a statement.

According to the company, the offer will formally commence on September 26, 2025, and is set to expire at 1700L (2000Z), unless it is previously withdrawn or extended.

The board of directors of Chorus Aviation “believes that the offer is an advisable use of the company’s financial resources given its available cash resources, its ongoing cash requirements and access to capital markets, as well as the fact that the company believes the recent trading price of its shares is not fully reflective of the value of the business and future prospects,” it said.

Over the last year, Chorus Aviation’s shares have ranged between CAD17.91 and CAD24.05 (USD12.95-17.40), according to financial data.

Chorus Aviation is the parent company of Jazz Air (QK, Halifax) and Voyageur Airways (VAL, North Bay) as well as other aviation-related companies such as Cygnet Aviation Academy and Elisen & Associates.