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What's happening in CHC?

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What's happening in CHC?

Old 6th Apr 2016, 10:14
  #461 (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
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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
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Nope, not any more
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Old 6th Apr 2016, 12:33
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NHS were bought by the HNZ group.
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Old 6th Apr 2016, 12:48
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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
  #466 (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
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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
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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
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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
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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
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sir, what is meant by Equatorial Guinea and Kazikstan being 'moved to EO'? (Pardon my densness)
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Old 13th Apr 2016, 11:03
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EO meaning European Operations i'd imagine.

Thai Aviation Services will cut ties with CHC any time I believe, going to 4xS76D and 2xS92. A lot of the expat pilots have now been let go from Nakhon Si Thammarat base, and it appears only the Canadian guys who are well established within the CHC/TAS family, will remain, being offered, (rumours again) to remain working for TAS on TAS contracts. TAS were paying more than CHC, up to $180k US I heard. Thats more than the CAD$145k they were getting.

It's at times like this where you begin to see who is best friends with who.
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Old 13th Apr 2016, 15:38
  #473 (permalink)  
 
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Originally Posted by tasspook
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.......
Miri. The 139s there have all been benched and are off contract as of this month I believe. Just the three 225s remaining.
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Old 14th Apr 2016, 01:23
  #474 (permalink)  
 
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Zacks downgrades Bristow too .....

Bristow Group Inc (BRS) Downgraded by Zacks Investment Research - American Banking News
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Old 14th Apr 2016, 07:25
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Perhaps these financial geniuses should have been advising 'sell' last year when the price was $65. They dropped to $11 in January and anyone who bought then would have made a tidy profit as the share price today is $20.
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Old 14th Apr 2016, 09:59
  #476 (permalink)  
 
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So does an anticipated demise of CHC intrinsically increase Bristow's share price?
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Old 14th Apr 2016, 12:17
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Originally Posted by helimutt
EO meaning European Operations i'd imagine.

Thai Aviation Services will cut ties with CHC any time I believe, going to 4xS76D and 2xS92. A lot of the expat pilots have now been let go from Nakhon Si Thammarat base, and it appears only the Canadian guys who are well established within the CHC/TAS family, will remain, being offered, (rumours again) to remain working for TAS on TAS contracts. TAS were paying more than CHC, up to $180k US I heard. Thats more than the CAD$145k they were getting.

It's at times like this where you begin to see who is best friends with who.
Helimutt, your numbers are wildly higher than reality. Those numbers are from a previous era, when things were not as desperate, and based on a pay scheme that is now defunct. Best expectation now would be a match rather than an excedance of the humming bird beer token rate.
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Old 14th Apr 2016, 13:32
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Best expectation now would be a match rather than an excedance of the humming bird beer token rate.
Emphasis on "Best expectation" And medical/pension benefits considerably lower.

Pretty much a sign of the times....
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Old 15th Apr 2016, 02:05
  #479 (permalink)  
 
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So far there has been no comment on the Australian situation.

CC
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Old 15th Apr 2016, 09:16
  #480 (permalink)  
 
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As a former employee and very proud of my time in CHC Australia, I do hope that the rumour in reference to CHC Australia is very untrue. Apparently all to be revealed next week after a big meeting in Perth. Thinking of all the great guys and girls in CHC Australia.
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