Chorus Aviation reported net income of $14.7 million in the fourth quarter of 2012, down $8 million or 35.3% from $22.7 million in the same three months of 2011. Adjusted income decreased 8.3% to $17.9 million.
The Halifax-based parent of Jazz Aviation recorded operating revenues of $411.7 million in the fourth quarter of 2012, up 1% in the same period of 2011.
Chorus recorded operating income of $25.4 million in the fourth quarter, up 0.4% year-over-year.
Operating expenses increased 1% to $386.3 million. Depreciation and amortization expenses increased by $2.1 million, largely due to Bombardier Q400 aircraft purchases.
For the full 2012 year, Chorus saw a 48.4% boost in net income to $101.1 million compared to 2011. Operating revenues increased 2.8% to $1.71 billion. Operating expenses increased 1.3% to $1.58 billion.