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What's happening in CHC?

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What's happening in CHC?

Old 5th Apr 2016, 21:41
  #461 (permalink)  
 
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It's now quite difficult for an oil company to enter into a contract with CHC. The financial due diligence will show up as red and CHC will be too high risk.
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Old 5th Apr 2016, 21:44
  #462 (permalink)  
 
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How and when is it going to manifest on the frontline though, a/c still flying in Aberdeen.
Fairly soon into first quarter FY2017 I would expect.
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Old 5th Apr 2016, 21:47
  #463 (permalink)  
 
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The next real question is who will take over the existing contracts? NHV, NHS, Inaer? Who has spare aircraft right now to facilitate this at short notice? It may be a very turbulent time for the offshore workers too when this happens, but the leasing companies wont care a jot about this. Most likely they will just re-lease to the next company taking over if they are not going to get paid by CHC.
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Old 5th Apr 2016, 22:30
  #464 (permalink)  
 
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NHS arnt really a contender only have one machine.
Bristow and Babcock have capacity spare..
NHV dont have the enough big machines spare...
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Old 6th Apr 2016, 05:09
  #465 (permalink)  
 
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From last year, but some very interesting reading in here as well.

http://www.envisionreports.com/HELI/...15_SECURED.pdf
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Old 6th Apr 2016, 06:16
  #466 (permalink)  
 
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The next real question is who will take over the existing contracts?
Provided they can enter Chapter 11 then they can continue to operate under protection from creditors. Chapter 7 is chains on the doors....
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Old 6th Apr 2016, 06:20
  #467 (permalink)  
 
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This really says it:

With the assistance of advisors, we are in the process of analyzing various strategic alternatives to address our capital structure, including strategic alternatives. However, a filing under Chapter 11 of the U.S. Bankruptcy Code and for similar filings in non-U.S. jurisdictions (“Bankruptcy Proceedings”) may be unavoidable.
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Old 6th Apr 2016, 06:29
  #468 (permalink)  
 
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Paid to destroy a company!

From last year, but some very interesting reading in here as well.
Read that until I got to the part that says Billy the Kid got $15 million bucks over 3 years!! Threw my computer on the floor at that point
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Old 6th Apr 2016, 07:53
  #469 (permalink)  
HHE
 
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Originally Posted by Outwest View Post
Read that until I got to the part that says Billy the Kid got $15 million bucks over 3 years!! Threw my computer on the floor at that point

Must have been a Lenovo?
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Old 6th Apr 2016, 10:14
  #470 (permalink)  
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It ain't over until the fat lady sings

and she ain't singing yet...

CHC is taking position against the institutions that have financed them; banks, lessors, bond holders. Making sure that they know they all have a problem if they don't help CHC. Meaning that they have to allow CHC to postpone or even waive (re-)payments on debt, bonds and lease obligations.

So in my humble opinion this is nothing more than negotiating rhetorics. They even gave them a timeline and a view on what can happen if they are not helped.

So CHC will restructure once again. Helicopters will keep on flying and a solution will be found before q1 2017. In short everybody involved will be paying the bill (no pun intended).

To all concerned, best of luck and I truly hope this [email protected] will not take too long!
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Old 6th Apr 2016, 10:47
  #471 (permalink)  
 
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NHS arnt really a contender only have one machine.
Bristow and Babcock have capacity spare..
Aren't NHS part of Babcock?
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Old 6th Apr 2016, 10:59
  #472 (permalink)  
 
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Nope, not any more
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Old 6th Apr 2016, 12:33
  #473 (permalink)  
 
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NHS were bought by the HNZ group.
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Old 6th Apr 2016, 12:48
  #474 (permalink)  
 
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It was my impression that European AOCs have European ownership requirements, and that CHC Group is only a minority owner of CHC Scotia, Netherlands, Norway, and Ireland. Is this info not correct?

How this relation works with regard to accounting, debt, lease and contracts, I do not know.
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Old 6th Apr 2016, 13:38
  #475 (permalink)  
 
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CHC Ireland making a small profit up to April 2015 here too...

Surely there's the answer for Europe at least. CHC-Ireland is purely an S-92 SAR company - a perfect fit into Bristow's UK SAR model.

Babcock might benefit from acquiring CHC-Scotia.

The name CHC may disappear but their better legacy can continue under a take-over from the existing players. The UK North Sea operation is now probably too small for 4 operators in any case.

By selling the low hanging fruit (before it's picked by predators) has to be one option under consideration prior to administration.
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Old 7th Apr 2016, 08:54
  #476 (permalink)  
 
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If this is the answer for the European AOCs, what about the European maintenance organisations like Heli-One? Is the European ownership requirement the same?
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Old 11th Apr 2016, 14:08
  #477 (permalink)  
 
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Neil Young said "It's better to burn out than to fade away"

CHC seems to be taking the latter path.
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Old 12th Apr 2016, 21:34
  #478 (permalink)  
 
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Iíve had a chat with someone who knows, and it appears there is no European ownership requirement for the maintenance organisations.
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Old 13th Apr 2016, 05:02
  #479 (permalink)  
 
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So, EG and Kaz being "moved" to EO, Nigeria......well, who knows........Thailand, just about to go it alone. Have I missed anyone? Tick, tock, tick, tock.......
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Old 13th Apr 2016, 09:53
  #480 (permalink)  
 
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sir, what is meant by Equatorial Guinea and Kazikstan being 'moved to EO'? (Pardon my densness)
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