It's hard to paint a clear picture of any airline stock right now unfortunately, and we have to wait until earnings come out to see the true effects of COVID-19.
However, I could actually see Chorus Aviation coming out of this ahead of the game, and there is one primary reason why.
Chorus, much like any other airline stock has been crippled in price, and the outlook internationally for airlines is extremely foggy. Air Canada predicted that international travel will be in full swing by December. But, it's anyone's guess at this point.
Chorus however generates the bulk of its revenue from domestic travel. The outlook on this with Canadian provinces set to start opening up in phases is actually not as foggy. It is a fairly safe assumption to say domestic travel will be in full swing prior to international.
Now, before you get excited, I can't stress enough how risky the investment still is. Chorus Aviation is not in the same financial position the airline giants like Air Canada are, and the company's balance sheet is not nearly as healthy, and the company is going to find it difficult to pay back debt.
In order to do so, you could see anything from the sale of assets to the sale of shares. Both of which would have a negative impact on share price.
There's significant upside in Chorus's stock if things go back to normal quickly. But there is also significant risk of capital. Ultimately the choice is up to you if you'd like to make it.