CHC on the up?
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Press Release
CHC awarded new contract in North Sea
VANCOUVER, June 13 /CNW/ - CHC Helicopter Corporation ("CHC") (TSX: FLY.SV.A and FLY.MV.B; NYSE: FLI) announced today it has been awarded a new five-year contract by Marathon Oil U.K., Ltd. for the provision of helicopter services to the Brae Facilities in the UK North Sea utilizing Super Puma AS332L2 aircraft from the CHC fleet. This new contract, awarded after a competitive bid process, commences September 1, 2005.
CHC awarded new contract in North Sea
VANCOUVER, June 13 /CNW/ - CHC Helicopter Corporation ("CHC") (TSX: FLY.SV.A and FLY.MV.B; NYSE: FLI) announced today it has been awarded a new five-year contract by Marathon Oil U.K., Ltd. for the provision of helicopter services to the Brae Facilities in the UK North Sea utilizing Super Puma AS332L2 aircraft from the CHC fleet. This new contract, awarded after a competitive bid process, commences September 1, 2005.
It is just the merry go round of contracts. CHC lose Talisman to Bristows and gain some in return. The oil companies want 3 operators available so they spread the contracts around.
The problem is for the pilots who have to keep moving with the contracts, but that is the way the N Sea seems to be going at the moment, each company has a cadre of pilots and tops up with the floating contract pilots.
HF
The problem is for the pilots who have to keep moving with the contracts, but that is the way the N Sea seems to be going at the moment, each company has a cadre of pilots and tops up with the floating contract pilots.
HF
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Haven't heard of Nexen either, but I have heard that Talisman is about to buy them out, so does that mean the work will go back to Bristow again?
Also heard that CHC cannot take over the contract as soon as Marathon would like, so Marathon are having to pay extra dosh for Bristow to cover until CHC can take the work. Not only that but Marathon have evidently given Bristow a short term contract in South Wales flying direct from Aberdeen with their brand spanking new EC-225s.
Also heard that CHC cannot take over the contract as soon as Marathon would like, so Marathon are having to pay extra dosh for Bristow to cover until CHC can take the work. Not only that but Marathon have evidently given Bristow a short term contract in South Wales flying direct from Aberdeen with their brand spanking new EC-225s.
CHC Helicopter looks to take off with growing global oil and gas industry
Craig Wong Canadian Press June 30, 2005
VANCOUVER (CP) - CHC Helicopter Corp. is riding high on a thriving global oil and gas industry and looking ahead to an extensive fleet replacement program, executives told a conference call Thursday.
The company said it has a "huge list" of customers looking for bids on potential new offshore contracts, but just doesn't have enough aircraft to support them all. "The activity is continuing to increase with several requests for bids to support and existing oil and gas projects and we're also looking extensive fleet replacement programs in for example Nigeria, Brazil and in India," CEO Sylvain Allard told a conference call.
CHC said it added 15 new medium helicopters and two new heavy helicopters in the last year.
"All these aircraft are fully deployed and the fleet is still very tight. In fact, we anticipate that the impressive growth experienced last year in the last 12 months in our global operations will continue for fiscal 2006.
And CHC said it has commitments for several more helicopters and options on others this year.
"We are working with all three manufacturers right now, Sikorsky, Bell and Eurocopter to figure out line positions, how quickly we can get aircraft and how many we can get and what the prices are going to be," said chief financial officer Jo Mark Zurel.
"And depending how those negotiations work out we may buy more or less from the different manufacturers."
The Vancouver-based international helicopter services provider reported Wednesday it earned $18.8 million or 41 cents per share in its fourth quarter ended April 30. That compared with a profit of $25.4 million or 56 cents per share a year earlier.
Revenue was $226.4 million, up from $209.4 million.
For the full year, CHC earned $62.6 million or $1.37 per share on revenue of $903.3 million. That compared with a profit of $63.7 million or $1.41 per share on revenue of $720 million in its 2004 financial year.
The company expects profit margins to be improved by its decision to eliminate 180 jobs, along with improvements in fleet management, working capital management, procurement and logistics.
Zurel said the company has incurred substantial restructuring costs and there will be additional costs in fiscal 2006.
"The vast majority of the savings will be coming in the coming fiscal year. We in fact incurred some duplicate costs in fiscal 2005 because even though we had restructuring costs in letting some people go and all the consulting and legal and tax work and relocations costs.
As part of its restructuring, CHC created Heli-One as it combined its helicopter support subsidiaries and divisions under one banner.
Heli-One combines Astec Helicopter Services, Multifabs Survival, AeroTurbine Support and Overhaul International and is expected to leasing and support services to civilian and military helicopter operators worldwide.
The company also moved its corporate headquarters from St. John's, Nfld., to Vancouver.
CHC Helicopter is the world's largest provider of helicopter services to the global offshore oil and gas industry, with aircraft operating in more than 30 countries and about 3,400 employees worldwide.
Craig Wong Canadian Press June 30, 2005
VANCOUVER (CP) - CHC Helicopter Corp. is riding high on a thriving global oil and gas industry and looking ahead to an extensive fleet replacement program, executives told a conference call Thursday.
The company said it has a "huge list" of customers looking for bids on potential new offshore contracts, but just doesn't have enough aircraft to support them all. "The activity is continuing to increase with several requests for bids to support and existing oil and gas projects and we're also looking extensive fleet replacement programs in for example Nigeria, Brazil and in India," CEO Sylvain Allard told a conference call.
CHC said it added 15 new medium helicopters and two new heavy helicopters in the last year.
"All these aircraft are fully deployed and the fleet is still very tight. In fact, we anticipate that the impressive growth experienced last year in the last 12 months in our global operations will continue for fiscal 2006.
And CHC said it has commitments for several more helicopters and options on others this year.
"We are working with all three manufacturers right now, Sikorsky, Bell and Eurocopter to figure out line positions, how quickly we can get aircraft and how many we can get and what the prices are going to be," said chief financial officer Jo Mark Zurel.
"And depending how those negotiations work out we may buy more or less from the different manufacturers."
The Vancouver-based international helicopter services provider reported Wednesday it earned $18.8 million or 41 cents per share in its fourth quarter ended April 30. That compared with a profit of $25.4 million or 56 cents per share a year earlier.
Revenue was $226.4 million, up from $209.4 million.
For the full year, CHC earned $62.6 million or $1.37 per share on revenue of $903.3 million. That compared with a profit of $63.7 million or $1.41 per share on revenue of $720 million in its 2004 financial year.
The company expects profit margins to be improved by its decision to eliminate 180 jobs, along with improvements in fleet management, working capital management, procurement and logistics.
Zurel said the company has incurred substantial restructuring costs and there will be additional costs in fiscal 2006.
"The vast majority of the savings will be coming in the coming fiscal year. We in fact incurred some duplicate costs in fiscal 2005 because even though we had restructuring costs in letting some people go and all the consulting and legal and tax work and relocations costs.
As part of its restructuring, CHC created Heli-One as it combined its helicopter support subsidiaries and divisions under one banner.
Heli-One combines Astec Helicopter Services, Multifabs Survival, AeroTurbine Support and Overhaul International and is expected to leasing and support services to civilian and military helicopter operators worldwide.
The company also moved its corporate headquarters from St. John's, Nfld., to Vancouver.
CHC Helicopter is the world's largest provider of helicopter services to the global offshore oil and gas industry, with aircraft operating in more than 30 countries and about 3,400 employees worldwide.
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Aussie Folk Morale Increase.
Interesting maneuvers from Oz again.[Yawn]. Following the Pig Farmer traveling to ABZ and quickly into retirement, Mr. Wheel Barra is off to North America.
Well, without the Pig as protection, how long will this last.
Bet the big world gobbles him right up.
Meanwhile there are a lot of smiling faces around the bases.
Well, without the Pig as protection, how long will this last.
Bet the big world gobbles him right up.
Meanwhile there are a lot of smiling faces around the bases.
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High Nr
To cryptic for me bud!
Any chance of letting me know what that all means as I am a CHC employee and would welcome an outsiders view, please feel free to pm me if you want.
Regards
MaxNg
To cryptic for me bud!
Any chance of letting me know what that all means as I am a CHC employee and would welcome an outsiders view, please feel free to pm me if you want.
Regards
MaxNg
