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Jazz Air Income Fund announces increase in number of outstanding units.

AIRLINE INDUSTRY INFORMATION-(C)1997-2007 M2 COMMUNICATIONS LTD

Canada's Jazz Air Income Fund (TSX: JAZ.UN) has announced an increase in the number of outstanding units as a result of an exchange by ACE Aviation of units of Jazz Air LP for units of Jazz Air Income Fund.

Jazz Air Income Fund said ACE Aviation Holdings Inc has exchanged its 47,226,920 units of Jazz Air LP for an equivalent number of units of Jazz Air Income Fund, under terms of the investor liquidity agreement entered into at the time of the initial public offering of Jazz Air Income Fund.

Additionally, Jazz Air Income Fund will have 122,865,143 units issued and outstanding and will indirectly hold all outstanding units of Jazz Air LP while ACE will hold 72,226,920 units of Jazz Air Income Fund, representing 58.8% of the units issued and outstanding.

Jazz Air Income Fund also said that, in connection with the exchange, ACE, Jazz Air Trust and Jazz Air Holding GP Inc have agreed to amend the terms of the security holders' agreement dated 2 February 2006 to reflect ACE's indirect interest in Jazz Air Holding GP Inc.

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Publication:Airline Industry Information
Article Type:Financial report
Date:Apr 3, 2007
Words:208
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