Revolutionary : No that is not correct CHC is not borrowing 300 million, the new majority owner ( name unknown at this time) of CHC is investing the 300 million.
There should be almost no debt , the creditors are converting there debt for equity in the company ( about 1 billion is the figure I heard) and Milestone leasing will also become a part owner and has 150 million available for leasing or purchasing new aircraft. That gives 450 million they will have and virtually new debt when they emerge from bankruptcy protection. Pretty good starting point I would think.
Will be interesting to see what happens then, does the name change, brand change , aircraft colors change. I am betting there will be many new changes as the new company emerges from this process.