What's happening in CHC?
Join Date: Apr 2002
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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 Moody´s 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?
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 Moody´s 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?
http://ih.advfn.com/p.php?pid=nmona&article=71308402
Look at any of the 8-K SEC filings, CHC Group Ltd. is incorporated in the Cayman Islands, with their principal executive offices there. It has other offices all over the world.
Look at any of the 8-K SEC filings, CHC Group Ltd. is incorporated in the Cayman Islands, with their principal executive offices there. It has other offices all over the world.
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Current Report Filing (8-k)
Look at any of the 8-K SEC filings, CHC Group Ltd. is incorporated in the Cayman Islands, with their principal executive offices there. It has other offices all over the world.
Look at any of the 8-K SEC filings, CHC Group Ltd. is incorporated in the Cayman Islands, with their principal executive offices there. It has other offices all over the world.
Would it make you happy helimutt CHC closes? You make enough comments about it. You have a bitter pill about CHC?
Twisted wrench, Not sure what it has to do with you. Ive seen first hand how senior management treated and spoke to pilots. I was shocked. Luckily those people have now been replaced. No-one likes to see a big operator fail, but watching the greed and incompetence destroy a company is sad. I've no bitter pill. I'm out of the equation now but still seeing friends and colleagues being treated very badly.
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The Party is Over - at least for a while.
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Mitchaa
Deleting all those posts and posting one entitled "A step in the right direction for the company"????
If aviation ever doesn't work out for you I see a career in politics buddy
Holy Moly
I think the party finished a long time ago. The music may still be on but the only people left are a few nerds tapping their feet nervously in the kitchen.
Deleting all those posts and posting one entitled "A step in the right direction for the company"????
If aviation ever doesn't work out for you I see a career in politics buddy
Holy Moly
The Party is Over
Last edited by Max Contingency; 5th May 2016 at 10:02.
Join Date: Jan 2010
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Filing for Chapter 11 protection is a great way of spreading the pain. Those owed money by CHC will now only see a few cents in the dollar reimbursement. Therefore the OEM's, aircraft lessors and others owed money will take a big hit which inevitably they will make up for by increasing prices - passing the pain onto Bristow, Babcock etc.
But if all eventually works out for CHC it could ultimately be worthwhile for the industry - assuming the oil price recovers some time soon.
But if all eventually works out for CHC it could ultimately be worthwhile for the industry - assuming the oil price recovers some time soon.
Join Date: May 2016
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Scotia?
Does anyone have any idea what will happen to CHC Scotia?
They are not covered by the CH 11 so where does that leave them?
Up for sale on their own?
Bankruptcy in the UK courts which are far from company friendly when compared to the US?
It's just an honest question. Not designed to sow discord like some on this timeline.
I would honestly like to know.
They are not covered by the CH 11 so where does that leave them?
Up for sale on their own?
Bankruptcy in the UK courts which are far from company friendly when compared to the US?
It's just an honest question. Not designed to sow discord like some on this timeline.
I would honestly like to know.
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Max Contingency - I don't want to see the company fail and I truly believe this step protects CHC going forward. A welcome and a relief for many I'm sure.
General Motors, Delta Airlines and many others have entered and exited Ch 11 successfully, no reason at all why CHC cannot do the same.
I do take a keen interest in politics mind you but not today
General Motors, Delta Airlines and many others have entered and exited Ch 11 successfully, no reason at all why CHC cannot do the same.
I do take a keen interest in politics mind you but not today
Handing back leased machines without penalty and as "is"
They will never be able to negotiate a lease again.....
How many companies are this shower of miscreants going to hang out to dry ?
Shame on you CHC..
They will never be able to negotiate a lease again.....
How many companies are this shower of miscreants going to hang out to dry ?
Shame on you CHC..
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Aircraft buyback
How can they buyback a/c with no new work and with what $$$? I get the ch11 strategy, but in 6 mos where will the extra $$$ come from to purchase a/c for what new contract work.
The ch11 will do much damage, right or wrong, to customer confidence. As it is, customers/ foreign country partners are going their own way in terms of operations.....have their own AOC and own a/c.
Plus, Bristow, Babcock, Weststar....etc are at the door with idle, non default lease a/c.
Short term strategy is sound.....but long term is hopey- changey!
The ch11 will do much damage, right or wrong, to customer confidence. As it is, customers/ foreign country partners are going their own way in terms of operations.....have their own AOC and own a/c.
Plus, Bristow, Babcock, Weststar....etc are at the door with idle, non default lease a/c.
Short term strategy is sound.....but long term is hopey- changey!
Join Date: Jan 2015
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Michaa sounds like management!:
Source: http://www.pprune.org/rotorheads/556...ml#post9367179
CHC staff have had briefings today and from what I am told, the staff have been reassured that this is a positive move for the company. My information comes from a CHC employee that was present at the town hall meeting this evening.
Points to note :
CHC Scotia are not under Chapter 11, they are owned by a Dutch consortium and are a profitable company in their own right with their own positive cash flow. Should CHC group fail to leave chapter 11 and enter chapter 7 bankruptcy, then CHC Scotia are structured in a way that offers them full protection. The bankruptcy cannot asset strip CHC Scotia. CHC Scotia would continue as a business.
CHC have tried to negotiate with lessors on debts and leased airframes and these negotiations have proved unsuccessful. As a result, CHC have taken the choice to enter chapter 11 which offers them full protection from the courts to hand back idle aircraft without penalty or cost. They are to be handed back in their current state as soon as possible, with 240 or so aircraft, upto 100 of these will be returned.
CHC group expects to come out of Ch 11 within 6 months much stronger than they entered.
Staff and day to day running is unaffected, salaries and benefits to be paid as normal.
CHC plan to re-model their business model based on a favourable owned vs lease count. They are going to buy a number of leased aircraft at negotiated rates.
All in all, staff were left satisfied with the briefings and the answers given. It's a positive for the company, not a negative. The company will be a smaller leaner more profitable company in the future, that I have no doubts.
All the best to those that I know working in CHC and all the best to the company going forward. CHC birds will continue to fly the skies of Europe at least.
Points to note :
CHC Scotia are not under Chapter 11, they are owned by a Dutch consortium and are a profitable company in their own right with their own positive cash flow. Should CHC group fail to leave chapter 11 and enter chapter 7 bankruptcy, then CHC Scotia are structured in a way that offers them full protection. The bankruptcy cannot asset strip CHC Scotia. CHC Scotia would continue as a business.
CHC have tried to negotiate with lessors on debts and leased airframes and these negotiations have proved unsuccessful. As a result, CHC have taken the choice to enter chapter 11 which offers them full protection from the courts to hand back idle aircraft without penalty or cost. They are to be handed back in their current state as soon as possible, with 240 or so aircraft, upto 100 of these will be returned.
CHC group expects to come out of Ch 11 within 6 months much stronger than they entered.
Staff and day to day running is unaffected, salaries and benefits to be paid as normal.
CHC plan to re-model their business model based on a favourable owned vs lease count. They are going to buy a number of leased aircraft at negotiated rates.
All in all, staff were left satisfied with the briefings and the answers given. It's a positive for the company, not a negative. The company will be a smaller leaner more profitable company in the future, that I have no doubts.
All the best to those that I know working in CHC and all the best to the company going forward. CHC birds will continue to fly the skies of Europe at least.
