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What's happening in CHC?

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What's happening in CHC?

Old 13th Apr 2016, 11:03
  #481 (permalink)  
 
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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
  #482 (permalink)  
 
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Originally Posted by tasspook View Post
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
  #483 (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
  #484 (permalink)  
 
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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
  #485 (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
  #486 (permalink)  
 
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Originally Posted by helimutt View Post
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
  #487 (permalink)  
 
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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
  #488 (permalink)  
 
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So far there has been no comment on the Australian situation.

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Old 15th Apr 2016, 09:16
  #489 (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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Old 15th Apr 2016, 09:28
  #490 (permalink)  
 
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Originally Posted by Doors Off View Post
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.
What rumour would that be ?? I have some good friends there that haven't mentioned anything......
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Old 15th Apr 2016, 13:34
  #491 (permalink)  
 
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Actually I'm told that CHC Oz is currently short 225 drivers...
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Old 15th Apr 2016, 21:31
  #492 (permalink)  
 
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I have also heard that the engineers are heavily under the pump due a to lack of numbers after the most recent round of redundancies
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Old 15th Apr 2016, 22:15
  #493 (permalink)  
 
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Originally Posted by Doors Off View Post
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.
It's just a rumour...it's not true. Unscrupulous competitors stirring the pot perhaps???? Things obviously aren't grand, but they aren't quite that bad yet.

Last edited by Bladestrike; 15th Apr 2016 at 22:17. Reason: Poor grammar
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Old 15th Apr 2016, 22:32
  #494 (permalink)  
 
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Fessenden has just announced that CHC will option to not make a $46 million interest payment on the company’s senior secured notes (a "grace period"). Not chapt 11, but a significant decision.
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Old 15th Apr 2016, 23:00
  #495 (permalink)  
 
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News - CHC Helicopter

Previously it was anticipated to happen in July. What has accelerated the situation? Best wishes to our friends in CHC.
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Old 16th Apr 2016, 03:03
  #496 (permalink)  
 
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Bladestrike, I hope that it is only pot stirring and merely a rumour. Too many good engineers, aircrew and staff to be affected otherwise. Bloody good bunch of operators.
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Old 16th Apr 2016, 04:53
  #497 (permalink)  
 
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Bloody good bunch of operators.
Couldn't agree more, sadly let down by the chair warmers in Perth.

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Old 16th Apr 2016, 05:35
  #498 (permalink)  
 
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Can anyone elaborate on the most recent rumour concerning CHC Australia ????
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Old 16th Apr 2016, 06:29
  #499 (permalink)  
 
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Not sure that you can blame the folks in Perth, CHC Aust was a great company until they were made to come into the Canadian way of doing things, big changes were made, and yes there were a number of personnel in key positions in management, ops and engineering that had no idea what they were doing (so at that time blame Perth), but who has destroyed this company has now departed, and we are seeing the results that big bad Billy and his cronies have left for everyone to see.
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Old 16th Apr 2016, 08:37
  #500 (permalink)  
 
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Not sure that you can blame the folks in Perth, CHC Aust was a great company until they were made to come into the Canadian way of doing things, big changes were made, and yes there were a number of personnel in key positions in management, ops and engineering that had no idea what they were doing (so at that time blame Perth), but who has destroyed this company has now departed, and we are seeing the results that big bad Billy and his cronies have left for everyone to see.
Careful there stud, the "Canadian" way of doing things and Bill A. and his merry band of uber-idiots are NOT one in the same. The Canuck way (which worked very, very well before Billy Boy) ceased to exist the moment pen left paper on the sale to First Reserve.
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