What's happening in CHC?
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http://www.aftenbladet.no/energi/CHC-sier-opp-19-helikopterpiloter-3747168.html
The news from chc has made it into in the Norwegian newspapers. Now confirmed 19 pilots have received their notice and another stage of redundancies to be expected in the autumn. Some fairly unpleasant financial figures posted a well, although the director for Norway does state that he does not know what the economy specifically for the Norwegian sector of business has been in relation to the larger CHC economics. I find it hard to believe that CHC in Norway were not profitable considering their size and market share. I wonder if they are paying the price for the rest of CHC?
The news from chc has made it into in the Norwegian newspapers. Now confirmed 19 pilots have received their notice and another stage of redundancies to be expected in the autumn. Some fairly unpleasant financial figures posted a well, although the director for Norway does state that he does not know what the economy specifically for the Norwegian sector of business has been in relation to the larger CHC economics. I find it hard to believe that CHC in Norway were not profitable considering their size and market share. I wonder if they are paying the price for the rest of CHC?
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What's happening in CHC?
One way or another, they need to push the price above $1.00 to prevent getting the "Bum's Rush" from the NYSE. I believe that almost anything is possible to achieve that. So if you think that can be achieved maybe it is a good "Buy" ? Nien?
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Wow...I was certainly in the more depressed outlook camp...but up over 46% already just today. Very optimistic and I for one will be very happy if the doom and gloom we saw a few months ago is finally turning to brighter times for CHC. Everyone in this industry will gain. If Karl really has managed to unpick the chaos caused by the previous management he has done one hell of a job. Many, myself included did not doubt he was the right man to lead the charge, but feared too little to late. I really hope I was wrong. The quarter results in september will be very interesting and if this causes a big “positive surprise” for the analysts the train will be finally rolling in the right direction as far as the share price is concerned.
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Another worrying Quarter from CHC:
Year on year revenue down 18%
Some positive news from the restructuring. Losses down to $200m a year
With cash at $100m and credit lines of $450m they may have bought themselves an extension of time. For the sake of the industry, I hope they make it.
On the limited stock in public hands I think we have already had the 'dead cat' bounce from 35c to 80c (well done if you caught it). This is still a very long was from being a 'widows and orphans' stock and I will only watch it from the side lines.
Although..... I would not be surprised to see CD&R vacuum up some traded stock before Jan 2016 to try and keep CHC above $1 and retain the NYSE listing?
Year on year revenue down 18%
Some positive news from the restructuring. Losses down to $200m a year
With cash at $100m and credit lines of $450m they may have bought themselves an extension of time. For the sake of the industry, I hope they make it.
On the limited stock in public hands I think we have already had the 'dead cat' bounce from 35c to 80c (well done if you caught it). This is still a very long was from being a 'widows and orphans' stock and I will only watch it from the side lines.
Although..... I would not be surprised to see CD&R vacuum up some traded stock before Jan 2016 to try and keep CHC above $1 and retain the NYSE listing?
Very sorry to see this company in such a sad state.
Shares should be sold for tax losses now, as it will only get worse from here as we get closer to year end and more and more tax loss selling kicks in!
Shares should be sold for tax losses now, as it will only get worse from here as we get closer to year end and more and more tax loss selling kicks in!
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The report is positive, not negative. Read the press release here..
Not sure what report you were reading but the one I read is only positive in that losses have been trimmed.
CHC remains a debt crippled, loss making, company with no assets.
The most positive line in the CEO's statement is that he is "confident in our ability to manage through". Most notably, there is no forecast of a return to profit and he talks about opportunities for attractive growth in the exploration market????
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A few laid off crews (myself included) are being recalled back to work. That's a good enough sign for me. Hopefully we are all soon back to moaning and complaining about air travel and accommodations again.
It's tubing again and back in a relative free-fall. The dead-cat bounce over? 
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BBC is reproducing a formal press release:
North Sea helicopter operator CHC says it is shedding about 20 jobs. The company had initially said it was consulting with staff over an expected 50 redundancies at its Aberdeen base.
But the firm now says it was able to minimise the number of positions affected through job share schemes and giving employees positions elsewhere in the company.
But the firm now says it was able to minimise the number of positions affected through job share schemes and giving employees positions elsewhere in the company.
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I now understand that some CHC aircraft are going into Long Term Storage. I was led to believe that all CHC aircraft were now leased. In which case why not just terminate the lease in order to stem the outflow of leasing funds?
Maybe someone has a good answer for their actions.
Maybe someone has a good answer for their actions.
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Leases can't just be terminated without a substantial payout. Remember, the Leasing Company doesn't want the aircraft back (unless they have a better customer then they may negotiate)
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More trouble looming over Canadian AOC says HeliData News this week.
