Chrono Aviation (NDL, Québec) will see “a significant investment” in its business from Arctic Co-operatives Limited, a federation that provides support to community-based co-operatives providing services in northern Canada, the two partners said in a joint statement dated February 4.
As a result of the investment, the size of which was not disclosed, Chrono Aviation said it would be able to add a third B737-200Adv. to its fleet, which according to the Canadian register includes one Dash 8-100, eight PC-12s, one Beech (twin turboprop) King Air 300, two Beech 1900Ds, one Citation CJ4, and one Falcon 50.
It will also be able to add a new hangar and maintenance facility to its terminal at Montréal Metropolitan. The new assets will enable it “to offer expanded service to new and existing clients”, the charter specialist said.
Arctic Co-ops unites 32 co-operatives in Nunavut, the Northwest Territories, and Yukon, where member co-ops operate retail stores and hotels in most communities. It will now have a seat on the board of directors at Chrono Aviation, which also owns passenger and cargo charter specialist Chrono Jet (MB, Québec).
“With new Inuit/Indigenous ownership, Chrono Aviation is poised to reinforce and expand its air charter business in Quebec, Nunavut, and beyond,” the statement said.
Chrono Aviation and Arctic Co-ops already work together, after a joint bid won a long-term contract in April 2019 with Baffinland Iron Mines Corp., supplying the Mary River Mine, an open-pit iron mine, with passenger and cargo transport.
Another major northern Canada retailer, the North West Co., has also invested in the airline business, acquiring North Star Air (Ontario) (0N, Thunder Bay) in April 2017 for around CAD31 million Canadian dollars (USD22.7 million at the time), enabling it to expand its services in Nunavut and use the carrier to transport cargo to its network of stores.
