HPS to Buy Chorus Aircraft-Leasing Unit in $1.4 Billion Deal (2)

Canada’s Chorus Aviation Inc. has struck a deal to unload its regional-aircraft leasing business to HPS Investment Partners, reversing a strategy it embarked on more than two years ago when interest rates were lower.

Chorus will sell the business for about C$1.9 billion ($1.4 billion) including debt, according to a statement Tuesday that confirmed an earlier report from Bloomberg News. The Toronto-based aerospace firm will receive C$814 million in cash.

It’s a U-turn for Chorus, which plunged into owning and leasing regional aircraft in a major way with the 2022 acquisition of Falko Regional Aircraft Ltd., which gave ...