Go Back  PPRuNe Forums > Aircrew Forums > Rotorheads
Reload this Page >

What's happening in CHC?

Rotorheads A haven for helicopter professionals to discuss the things that affect them

What's happening in CHC?

Old 28th Apr 2016, 21:25
  #521 (permalink)  
 
Join Date: Mar 2016
Location: N of 49th parallel
Posts: 193
Likes: 0
Received 0 Likes on 0 Posts
What, the great Helikopter Service is not the great business we have always been told it is! Surely not. I thought the Norwegian operation was beyond reproach?

26500lbs what gives, no doubt it is every one else that is to blame?

Perhaps HKS suffers from too much arrogance?
Apate is offline  
Old 28th Apr 2016, 21:37
  #522 (permalink)  
 
Join Date: Sep 2006
Location: Inside the Industry
Posts: 876
Received 0 Likes on 0 Posts
Add to the above, the delay of a major Shell contract in OZ for at least a year and the announcement of as many as 10 X 92 and 25 x 225 pilots being " stood down" ( home without pay) being another nail in the coffin. I'm sure CHC had that contract
Stood down at home without pay? I would rather take a redundancy and get a payment but maybe CHC Oz can't afford the payouts?
industry insider is offline  
Old 29th Apr 2016, 00:25
  #523 (permalink)  
 
Join Date: Aug 2003
Location: LOS
Age: 66
Posts: 580
Likes: 0
Received 0 Likes on 0 Posts
Stood down at home without pay? I would rather take a redundancy and get a payment but maybe CHC Oz can't afford the payouts?
Yes, I agree, but that option was not listed on the letter I seen. The options were Use Vacation time, Use long term service time, or Leave without pay....
Outwest is offline  
Old 29th Apr 2016, 10:37
  #524 (permalink)  
 
Join Date: Jan 2016
Location: Under a tree in the NT
Posts: 148
Received 0 Likes on 0 Posts
it's going to be intresting next week as they try hand back the keys of various aircraft to the owners....
NumptyAussie is offline  
Old 29th Apr 2016, 12:00
  #525 (permalink)  
 
Join Date: Oct 2008
Location: Everywhere
Posts: 510
Received 3 Likes on 1 Post
The problem currently evolving in Norway wont help them much either.

CC
Checklist Charlie is offline  
Old 29th Apr 2016, 15:39
  #526 (permalink)  
 
Join Date: Dec 2000
Location: uk
Posts: 1,655
Received 1 Like on 1 Post
I feel today's sad accident may just be the final nail in the coffin for CHC.
helimutt is offline  
Old 29th Apr 2016, 19:32
  #527 (permalink)  
 
Join Date: Jan 2007
Location: here and there
Age: 66
Posts: 139
Likes: 0
Received 0 Likes on 0 Posts
Maybe , maybe not. Would it make you happy helimutt CHC closes? You make enough comments about it. You have a bitter pill about CHC?
twisted wrench is offline  
Old 29th Apr 2016, 20:29
  #528 (permalink)  
 
Join Date: Nov 2008
Location: In the Country
Posts: 101
Likes: 0
Received 0 Likes on 0 Posts
Two more directors have just gone: Jonathan Lewis and Jeffrey Quake
TwoStep is offline  
Old 29th Apr 2016, 21:41
  #529 (permalink)  
 
Join Date: Jun 2015
Location: ABZ
Posts: 48
Likes: 0
Received 0 Likes on 0 Posts
Angel Truly Horrific and Sad

Any wagers on how many more times CHC will make payroll now?

Not many by the looks of the big picture. Financial distress to begin with, and now a massive portion of the revenue stream and reputation interrupted?

It looks like a sad story just got immeasurably sadder. Sincere condolences to our friends, colleagues, and passengers, who have perished.
Holy Moly is offline  
Old 30th Apr 2016, 02:42
  #530 (permalink)  
 
Join Date: Aug 2003
Location: LOS
Age: 66
Posts: 580
Likes: 0
Received 0 Likes on 0 Posts
Global just paid the severance to all those laid off, even the ones who have not reached their last day.
Outwest is offline  
Old 30th Apr 2016, 03:26
  #531 (permalink)  
 
Join Date: Oct 2006
Location: Tennessee
Posts: 4
Likes: 0
Received 0 Likes on 0 Posts
Doom and Gloom

Originally Posted by twisted wrench
Maybe , maybe not. Would it make you happy helimutt CHC closes? You make enough comments about it. You have a bitter pill about CHC?
Don't forget Holy Moly, same despairing, pessimistic and sarcastic attitude. They both seem to gain satisfaction from all this. What goes around, comes around. But they probably already know this, hence the axe to grind with CHC.
Cobra27 is offline  
Old 30th Apr 2016, 04:50
  #532 (permalink)  
 
Join Date: Apr 2002
Location: canada
Posts: 243
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by Outwest
Global just paid the severance to all those laid off, even the ones who have not reached their last day.
Cleaning out their books for fiscal year end...30 April??
donut king is offline  
Old 30th Apr 2016, 06:05
  #533 (permalink)  
 
Join Date: Aug 2003
Location: LOS
Age: 66
Posts: 580
Likes: 0
Received 0 Likes on 0 Posts
Cleaning out their books for fiscal year end...30 April??
Could be, but there is speculation there is another reason....
Outwest is offline  
Old 30th Apr 2016, 06:24
  #534 (permalink)  
 
Join Date: Aug 2003
Location: LOS
Age: 66
Posts: 580
Likes: 0
Received 0 Likes on 0 Posts
I fail to see the link between an accident and a company break down.
Pan Am and Lockerbie comes to mind....
Outwest is offline  
Old 30th Apr 2016, 09:21
  #535 (permalink)  
 
Join Date: Dec 2012
Location: Not from 'round here
Posts: 15
Likes: 0
Received 0 Likes on 0 Posts
Outwest...Pan Am... Lockerbie..
After that post you know there's nothing here worth reading.
Sick or ski is offline  
Old 30th Apr 2016, 09:55
  #536 (permalink)  
 
Join Date: Apr 2007
Location: Out there
Posts: 360
Received 8 Likes on 5 Posts
Lets leave that subject alone shall we? Pan am and Lockerbie

Last edited by Evil Twin; 30th Apr 2016 at 09:55. Reason: additional information
Evil Twin is offline  
Old 30th Apr 2016, 09:59
  #537 (permalink)  
 
Join Date: Aug 2003
Location: LOS
Age: 66
Posts: 580
Likes: 0
Received 0 Likes on 0 Posts
well he failed to see a link......
Outwest is offline  
Old 30th Apr 2016, 10:52
  #538 (permalink)  
 
Join Date: May 2000
Location: uk
Posts: 268
Likes: 0
Received 0 Likes on 0 Posts
Hmmm

For the avoidance of doubt: I am one of those posters that you identified as having no love for CHC. However, this is a rumour network and I consider my opinion to be as valid as any other.

In aviation, Reputational damage = Financial damage.

I also think that making early severance payments could actually be very significant. I hope Mitchaa is correct and there are no payroll issues but as I understand it this is not guaranteed. In the event of a bankruptcy petition, outstanding wage bills are unsecured debt and you sit in queue with the other people owed money.
Max Contingency is offline  
Old 1st May 2016, 03:20
  #539 (permalink)  
 
Join Date: Jun 2015
Location: ABZ
Posts: 48
Likes: 0
Received 0 Likes on 0 Posts
Angry How much time is left on the clock?

More crappy news and frank analysis.

CHC Fights the Clock to Avoid Bankruptcy After Missed Payment - Bloomberg
Holy Moly is offline  
Old 1st May 2016, 10:57
  #540 (permalink)  
 
Join Date: Jan 2007
Location: here and there
Age: 66
Posts: 139
Likes: 0
Received 0 Likes on 0 Posts
Reading CHC explanation they are using the grace period to defer this payment, I am assuming since April 30 is the end of the fiscal year. Makes the books look better to not pay out 46 million until after the year end report is released.
As the statement said CHC has the money to make the payment just using there grace period allowed to not make the payment at this time.


The Moodyīs report call CHC a Canadian company? Other then having a office in Richmond , BC , I would not call CHC a Canadian company and has not been for some years.


Maybe there were mixed up with CHC and CHC Canada?
twisted wrench is offline  

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell or Share My Personal Information

Copyright © 2023 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.