Outwest has it right. The old CHC Global Operations AOC could not continue under TC as it did not comply with the Canadian ownership rules. Hence the move to a Cayman AOC. This was not driven by tax rules, as some have assumed.
In contrast, CHC Helicopters Canada is a Canadian owned company that currently operates out of St Johns! It does not have a majority holding by CHC, just as the European AOC companies do not have a majority holding by the publicly listed "US" CHC.
Simples
