2016 News

  1. CHC SAR Ireland Reaches 10,000 Hour Milestone

    -- Dublin, Ireland -- CHC Helicopter (CHC, the “Company”), a global helicopter services provider, announced that its Irish Search-and-Rescue (SAR) operation, which provides services on behalf of the Irish Coastguard, has achieved the significant milestone of reaching 10,000 Sikorsky S92 flight hours.
  2. CHC Group Appoints William L. Transier to Board of Directors

    -- CHC Group (OTC Pink Sheets: HELIQ; the “Company” or “CHC”) today announced the appointment of William L. Transier to its Board of Directors, effective immediately.
  3. CHC Group Receives Court Approval of “First Day” Motions to Support Business Operations

    -- CHC Group (OTC Pink Sheets: HELIQ; the “Company” or “CHC”) today announced the Company has received approval from the United States Bankruptcy Court for the Northern District of Texas for its First Day motions related to its voluntary Chapter 11 reorganization. Collectively, the First Day orders issued by the Court will help CHC continue to operate its business in the normal course while the Company works to restructure its balance sheet and fleet.
  4. CHC Group Files Voluntary Chapter 11 Petitions to Facilitate Restructuring and Position Company for Long-Term Success

    -- CHC Group (OTC Pink Sheets: HELIQ; the “Company” or “CHC”) today announced that the Company and certain of its wholly-owned subsidiaries have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas to facilitate the restructuring of its balance sheet and fleet, and position the Company for long-term success. The reorganization is expected to strengthen CHC’s financial position by reducing long-term debt and enhancing financial flexibility while allowing the Company to manage and operate its fleet of aircraft.
  5. An update on the global EC 225 fleet

    -- Following Friday’s tragic accident involving an EC 225, CHC immediately put all EC 225 flights temporarily on hold with the exception of those aircraft dedicated to life-saving search-and-rescue missions.
  6. CHC Helicopter confirms EC 225 accident at Flesland, Bergen

    -- CHC Helicopter Service confirms that there has been an accident involving flight HKS 241 from Gullfaks B with estimated time of arrival at Flesland Airport Bergen at 12.04 pm CET. The aircraft involved in the accident is an Airbus EC 225 helicopter with 2 crew and 11 passengers operated for Statoil.
  7. An Update Regarding the Accident in Norway

    -- Based on guidance from Airbus Helicopters and in line with regulatory authorities in Norway and the UK, all EC225 commercial flights will be put on hold with the exception of search-and-rescue missions. CHC is working with its customers to prioritise the availability of alternative aircraft and will provide as much capacity as possible using those resources
  8. CHC Group Announces Decision Not to Make Interest Payment on 2020 Notes At This Time and to Enter Grace Period

    -- Dallas, Texas -- CHC Group (OTCQX: HELIF; the “Company”) and its subsidiary CHC Helicopter S.A. decided not to make at this time an interest payment of approximately $46 million due today on its 9.25 % senior secured notes maturing October 15, 2020 (the “2020 Notes”). Under the terms of the indenture governing the 2020 Notes, the Company has a 30-day grace period after the interest payment due date during which it may elect to make the interest payment and cure any potential event of default for nonpayment.
  9. CHC Group Reports Fiscal 2016 Third Quarter Results

    -Net loss of $76 million in the quarter; Adjusted EBITDAR, excluding special items down 3 percent year-over-year and down less than 1 percent year-to-date. Third quarter EBITDAR margin excluding special items improved 590 basis points year-over-year; ongoing cost reduction program continues to significantly offset market headwinds through margin improvement, in addition to foreign exchange. Year-to-date cash used in investing activities of $150 million, a $115 million decrease from the prior year, driving a $122 million free cash flow improvement over the prior year-to-date.
  10. Explorer, Physician and Leadership Expert – Dr. Joe MacInnes to Share Lessons in Safety Leadership at 2016 CHC Safety & Quality Summit

    -Vancouver, British Columbia, Canada – Dr. Joe MacInnes, a medical doctor, undersea explorer, author and leadership expert, has been confirmed as the keynote speaker for the gala dinner at the 12th-annual CHC Safety & Quality Summit.
  11. CHC Group Sets Dates for Fiscal-2016 Q3 Results

    –Vancouver, British Columbia, Canada - CHC Group Ltd. (OTCQX: HELIF), the parent company of CHC Helicopter, plans to issue its release for the fiscal-year 2016 third quarter, which ended January 31, 2016, after market close on Thursday, March 3, 2016.
  12. CHC Group Ltd. Confirms Delisting Notice from NYSE

    –Vancouver, British Columbia, Canada – CHC Group (NYSE: HELI; the “Company”), the parent company of CHC Helicopter, today announced that it received written notice from the NYSE Regulation, Inc. that the NYSE has delisted the Company’s ordinary shares, pursuant to Section 802.01B of the NYSE’s Listed Company Manual requiring NYSE-listed companies to maintain an average market capitalization of $15 million or more over the preceding thirty trading days. The NYSE also suspended trading of the Company’s ordinary shares effective immediately.