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chorus aviation inc . CHORUS AVIATION ANNOUNCES SECOND QUARTER 2021 FINANCIAL RESULTS Q2 2021 Key Metrics • • • • Net income of $ 21.5 million , or $ 0.12 per basic share ; a quarter - over - quarter decrease of $ 7.6 million primarily due to the continued impact of COVID – 19 on results related to off - lease aircraft , negotiated amendments to certain lease agreements including extensions , the 2021 CPA amendments and lower unrealized foreign exchange gains of $ 10.7 million . Adjusted net income of $ 11.4 million , or $ 0.06 per basic share ; a decrease of $ 10.3 million quarter - over - quarter primarily due to the previously noted impact of COVID - 19 on results and a reduction in earnings due to a lower US dollar foreign exchange rate . Adjusted EBITDA¹ of $ 76.9 million ; a decrease of $ 14.2 million over second quarter 2020 . Liquidity of $ 177.9 million . Collected approximately 67.0 % of the Regional Aircraft Leasing segment's lease revenue in the second quarter . Recent Accomplishments • • Revised capacity purchase agreement ( ' CPA ' ) with Air Canada , enhancing Jazz's position as the exclusive Air Canada Express operator of 70-78 seat regional capacity until the end of 2025 with the addition of 25 Embraer 175s to the Covered Fleet , and is currently the sole provider of Air Canada Express services . Completed a public offering and concurrent private placement for gross proceeds of $ 145.1 million . Remarketed three Dash 8-400s to two new leasing customers , Sky Alps of Italy ( two aircraft ) and one Dash 8-400 to National Jet Express , a subsidiary of Australian aviation operator , Cobham Aviation Services . Secured a three - year contract with Purolator for air cargo charter services , executing on Chorus ' growing capabilities in this market segment .