I’m not dumping on one operator but a reported $137m loss on $876m revenue and $120m loss the previous year, finishing the year with $866m of debt and $87m of total cash isn’t great no matter how much KF talks things up. I don’t know how much of it’s fleet CHC owns against the debt, it’s a little opaque now with the GE Milestone involvement.
The helicopter industry, like other oilfield service industries, is on its knees and it’s going to be a while before excess aircraft capacity is used up and prices rise.