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Jazz Air Income Fund (TSX JAZ.UN ) Added Apr 06, 2010 *************************
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Jazz Air LP (Jazz) is Canada's largest regional airline and the second largest airline in Canada, based on fleet size and number of routes operated. Under a capacity purchase agreement (CPA) with Air Canada, Jazz provides service to and from lower density markets as well as higher density markets at off-peak times throughout Canada and to and from certain destinations in the United States. Jazz currently operates scheduled passenger service on behalf of Air Canada with approximately 800 departures per weekday to over 80 destinations in Canada and in the United States with a fleet of Canadian-made Bombardier aircraft exclusively. Jazz has experienced sustained growth since the introduction of the regional jet to its fleet. Jazz's simplified fleet consists of regional jets and Dash 8 turboprop aircraft. Jazz has a fleet of 137 operating aircraft comprised of 73 regional jets and 64 turboprops. Jazz has a history of strong operational performance, along with an excellent safety record. Management's experience and leadership ability, coupled with Jazz's highly skilled labour force, have greatly contributed to solid operating performance. Together, this team of professionals is committed to building the best regional airline in the world. Management anticipates that substantially all of Jazz’s growth over the next several years will be attributable to its CPA with Air Canada. Under the CPA with Air Canada, and subject to certain conditions, Jazz is also able to enter into similar capacity agreements with other airlines. In addition to its operations under the CPA, Jazz continues to expand its charter services to customers in Canada as well as transborder services. Jazz has been able to attract a wide variety of charter customers over the years including sports teams, fishing lodges, oil and gas companies, various provincial forestry ministries, musical groups and corporate clients. Jazz's technical operations team performs regional jet and turboprop line maintenance, heavy maintenance and aircraft modifications to support Jazz's operations as well as for other airlines, aircraft manufacturers and lessors. Management believes Jazz to be in an excellent position to expand further into the third party maintenance, repair and overhaul business.
Recent News: Jazz Air Income Fund conversion to a corporation receives court approval
JAZZ AIR INCOME FUND ANNOUNCES THIRD QUARTER 2010 FINANCIAL RESULTS
Tim James ....... TD Newcrest…Nov 26, 2010 Maintained HOLD Target $4.75 JAZ.UN Price day before: $5.30 Finish day of posting:$5.27Current:$5.27 -------Nov 10, 2010------ Maintained HOLD Target reduced to $4.75 from $5.00 JAZ.UN Price day before: $5.32 Finish day of posting:$5.21Current:$5.27 ------Oct 04, 2010----- Maintained HOLD Target raised to $5.00 from$4.75 (Target Hit Oct 08, 2010) JAZ.UN Price day before: $4.60 Finish day of posting:$4.72Current:$5.27 -------Apr 28, 2010----- Target raised to $5.25 from$5.00 JAZ.UN Price day before: $5.11 Finish day of posting:$5.15Current:$5.27 -------Apr 06, 2010------- Maintained BUY Target raised to $5.00 from$4.50 (Target Hit Apr 14, 2010) JAZ.UN Price day before: $4.60 Finish day of posting:$4.64Current:$5.27 ------Feb 12, 2010------- Target reduced to $4.50 from $5.00 (Target Hit Mar 15, 2010) JAZ.UN Price day before: $4.00 Finish day of posting:$4.10Current:$5.27 ************* Claude Proulx…BMO Capital Markets…Nov 10, 2010 Target raised to $5.00 from $4.50 JAZ.UN Price day before: $5.32 Finish day of posting:$5.21Current:$5.27 --------Aug 05, 2010------ Target raised to $4.50 from$4.20 JAZ.UN Price day before: $4.48 Finish day of posting:$4.20Current:$5.27 ************* David Tyerman .......Canaccord/Genuity ........Nov 10, 2010 Target reduced to $5.50 from $5.75 JAZ.UN Price day before: $5.32 Finish day of posting:$5.21Current:$5.27 ---------Oct 13, 2010------- Upgraded to BUY from HOLD Target raised to $5.75 from $4.50 (Target Hit Oct 25, 2010) JAZ.UN Price day before: $5.20 Finish day of posting:$5.16Current:$5.27 Genuity Capital Markets…Feb 12, 2010 Target reduced to $4.75 from $5.25 (Target Hit Apr 09, 2010) JAZ.UN Price day before: $4.00 Finish day of posting:$4.10Current:$5.27 ************* Walter Spracklin ....... RBC Capital Markets…Nov 10, 2010 Target $5.50 JAZ.UN Price day before: $5.32 Finish day of posting:$5.21Current:$5.27 ---------Aug 27, 2010--------- Maintained OUTPERFORM Target $6.00 JAZ.UN Price day before: $4.28 Finish day of posting:$4.30Current:$5.27 -------Feb 10, 2010--------- New OUTPERFORM Target $6.00 JAZ.UN Price day before: $4.14 Finish day of posting:$4.09Current:$5.27 ********** Jayson Moss....... Salman Partners…Nov 10, 2010 Target $6.50 JAZ.UN Price day before: $5.32 Finish day of posting:$5.21Current:$5.27 -------Feb 12, 2010----- Target reduced to $6.50 from $7.00 JAZ.UN Price day before: $4.00 Finish day of posting:$4.10Current:$5.27 ************* Jacob Bout…CIBC World Markets…Oct 12, 2010 Upgraded to OUTPERFORM from SECTOR PERFORM Target raised to $6.00 from $5.50 JAZ.UN Price day before: $5.04 Finish day of posting:$5.20Current:$5.27 ------Oct 01, 2010----- Maintained SECTOR PERFORM Target raised to $5.50 from$5.00 (Target Hit Oct 18, 2010) JAZ.UN Price day before: $4.66 Finish day of posting:$4.60Current:$5.27 ------Aug 05, 2010---- Downgraded to SECTOR PERFORM from OUTPERFORM JAZ.UN Price day before: $4.48 Finish day of posting:$4.20Current:$5.27 ************* Turan Quettawala…Scotia Capital…Oct 12, 2010 Maintained SECTOR PERFORM Target raised to $5.50 from $4.50 (Target Hit Oct 18, 2010) JAZ.UN Price day before: $5.04 Finish day of posting:$5.20Current:$5.27 -----June 28, 2010------ New SECTOR PERFORM Target $4.50 JAZ.UN Price day before: $4.34 Finish day of posting:$4.27Current:$5.27 ************* David Newman ....... Bank National…May 17, 2010 Target reduced to $5.00 from$5.50 JAZ.UN Price day before: $4.70 Finish day of posting:$4.26Current:$5.27 -------Apr 27, 2010--- Target raised to $5.50 from$4.50 JAZ.UN Price day before: $5.17 Finish day of posting:$5.11Current:$5.27 -------Feb 12, 2010---- Target reduced to $4.50 from $5.00 (Target Hit Mar 15, 2010) JAZ.UN Price day before: $4.00 Finish day of posting:$4.10Current:$5.27 ************* Cameron Doerksen ....... Versant Partners…Apr 08, 2010 Target raised to $4.75 from$4.00 JAZ.UN Price day before: $4.73 Finish day of posting:$4.71Current:$5.27 ************ Michael Mills…Beacon Securities...Apr 06, 2010 Maintained BUY Target raised to $5.00 from$4.50 (Target Hit Apr 14, 2010) JAZ.UN Price day before: $4.60 Finish day of posting:$4.64Current:$5.27 ************* Jazz Air Short Positions Date Outstanding Price Range Oct 16 to 31, 2010 1,522,497 $5.88 to $5.08 Oct 01 to 15, 2010 1.25million $5.43 to $4.59 Sept 16 to 30, 2010 452,433 $4.75 to $4.29
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