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chorus aviation inc . CHORUS AVIATION ANNOUNCES THIRD QUARTER 2021 FINANCIAL RESULTS Q3 2021 Key Metrics • Net loss of $ 14.1 million , or $ 0.08 per basic share ; a quarter - over - quarter decrease of $ 34.5 million primarily due to higher unrealized foreign exchange losses of $ 40.8 million and the capacity purchase agreement ( ' CPA ' ) amendments . • Adjusted net income¹ of $ 15.3 million , or $ 0.09 per basic share ; an increase of $ 4.4 million quarter - over - quarter primarily due to a reduction in interest expense resulting from the early repayment on amortizing term loans under certain aircraft financings and lower depreciation expense . • • • Adjusted EBITDA¹ of $ 78.1 million ; a decrease of $ 7.8 million over third quarter 2020 . Collected approximately 77 % ( 67 % in Q2'21 ) of the Regional Aircraft Leasing segment's lease revenue recognized in the third quarter . Liquidity of $ 258.1 million . Recent Accomplishments • • • • Executed long - term leasing agreements with new customer , Emerald Airlines of Dublin , Ireland , for six ATR 72-600s . Executed long - term leasing agreements with new customer , Waltzing Matilda Aviation of Boston , Massachusetts , doing business as Connect Airlines , for two Dash 8-400s . Remarketed 11 of 13 off - lease aircraft repossessed by Chorus Aviation Capital since the onset of the COVID - 19 pandemic . Established new three - year $ 75.0 million revolving committed credit facility , plus a $ 25.0 million uncommitted accordion . 1