Chorus Aviation has agreed to acquire SkyCare Air Ambulance, Northern Ontario’s largest private fixed-wing air ambulance operator, for approximately C$40 million. The Halifax-based aviation group expects the transaction to close in the fourth quarter of 2026, subject to customary conditions and adjustments, with the deal intended to expand its aviation, aerospace and defence activities and immediately increase earnings and free cash flow after completion.
The consideration includes C$32 million in cash. The balance will be payable by 31 March 2029, conditional on SkyCare achieving specified performance targets. The final value may also be affected by customary adjustments and contingent consideration.
SkyCare provides fixed-wing medical evacuation, repatriation, organ-transport and charter services across Canada and the United States, while supporting regional medical transportation in Ontario. It employs about 220 people and operates 22 aircraft from several Canadian bases.
The acquisition would add specialised medical-transport operations to Chorus’s existing portfolio. Chorus expects to generate approximately C$500 million to C$550 million in free cash flow and net proceeds from aircraft sales between 2026 and 2029, supporting investment in growth opportunities, dividends and share repurchases.