26500 - chapeau Sir, well said.
10 month turnaround ideas:
1. Hand back all available idle ac to leasing companies. All ac leases will not be renewed. The short term cost of moving ac around to fill gaps will pale vs the medium term of lower fixed costs.
2. Shut down the Ops Centre in Dallas, not fit for purpose.
3. (this one will not be popular at all) default on debt and get it restructured so it can be repayed at not such horrendous interest rates. Bankruptcy law in the USA allows for this. At this point I suspect most of the institutional money invested in CHC has given up anyway and so might not fight it too much. The people who own the debt will be angry but as it's likely to be mainly FR and they don't run CHC anymore, I don't care.
4. Grow some balls and go after a new market, esp ones that are not saturated already or ripe for a lazy incumbent to be dislodged. Plenty of them around.
5. Partnerships with decent local/ regional RW players modeled completely on BRS and Everett. Can work all over the world.
6. Fire at least 50% of the VPs and 30% of the directors in the company. Far too many chiefs at CHC (check Linkedin if you want to see). Paying people $200k+ a year (plus all other costs which are huge) to run a team of 5 people is enough to make us ex military types (and probably most investors) want to cry...
7. Rationalise the fleet. Give customers idle new ac and get rid of legacy types. Painful again but the hidden costs of having the logistics and spares etc for old etch ac will mitigate a lot of that and customers will be happy they got something for nothing. Then kill off the old types, sell, mothball whatever.
I like this thread. Corporate turnaround, PPrune style.
Last edited by nowherespecial; 24th March 2015 at 11:06.
Reason: Added point 7