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What's happening in CHC?

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What's happening in CHC?

Old 13th Aug 2016, 22:57
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Miri, Malaysia and moving some S92 there to fill in for the 225.
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Old 14th Aug 2016, 12:59
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Westar is currently doing the work in Miri. AWAN is bidding 3 92s (w/CHC help), but no contract award yet.
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Old 30th Aug 2016, 16:31
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Financial forecast in court filings

Is anyone else looking at the court filings for CHC? As far as I can tell they are forecasting a loss of $90M between now and the end of the year. Am I reading this right?

Thoughts?
Attached Files
File Type: pdf
1631854160826000000000030.pdf (518.6 KB, 62 views)
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Old 30th Aug 2016, 18:08
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$60,000,000 of which is 'professional fees'
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Old 30th Aug 2016, 18:11
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Lease payments are ~$75M and "OEM" payments are ~$80M. Maybe they have not been as successful as some have thought about returning aircraft. . . . .
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Old 30th Aug 2016, 22:56
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all the leases I have been involved in have a deposit held in a account.
It is released on satisfactory return of the machine post return from lease maintenance, perhaps its this "loss".
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Old 31st Aug 2016, 10:29
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CHC haven't released any earnings/loss/profit releases during this process
CHC have increased their financial reporting rate to monthly. The reports can accessed on the CHC website under SEC Filings:

May - Net Loss $63 mil
Jun - Net Loss $35 mil
Jul - Net Loss $102 mil

Loved the bit where they apologised that they had to pay the electricity bill in Aberdeen before they could obtain court permission as the supplier was about to disconnect them!

Maybe the last one out wont have to turn the lights out after all LOL
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Old 31st Aug 2016, 19:49
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Mitchaa- No scaremongering here. Just trying to understand the situation. It is unclear on the Disbursements what they mean by "Aircraft leases - Current" and "Aircraft Leases - Catchup."

I am actively rooting for CHC to come out of this intact and in better financial shape. I thought it quite sad that they were saddled with such crippling debt for so long.
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Old 31st Aug 2016, 20:13
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Lease catch-up

Some background can Be found here
lease catch up

Not that it was much clearer to me, but perhaps somebody else?
I understand it is for variable lease payments.


SLB
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Old 31st Aug 2016, 22:12
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I thought it quite sad that they were saddled with such crippling debt for so long
And who do they have to blame for that?

I suppose the managers responsible for making such dumb decisions have no accountability at all.
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Old 1st Sep 2016, 10:40
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Originally Posted by havick
And who do they have to blame for that?
How long have you been in aviation? It's ALWAYS the pilot's fault!
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Old 7th Sep 2016, 14:07
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I see that Avnet has removed the "interim status" for former CHC CEO Bill Amelio.....He now is the permanent CEO of Avnet.

They all protect their own.
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Old 20th Sep 2016, 01:06
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Shouldn't the hummingbird be out of Chapter 11 by now? (If things were going well. . . )
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Old 20th Sep 2016, 07:13
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October/ November likely exit but must be by January or Ch 7.
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Old 23rd Sep 2016, 21:38
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Does anyone know if there will be a CHC Summit next year, or ever?
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Old 24th Sep 2016, 15:37
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The dates are April 3-5, 2017
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Old 25th Sep 2016, 09:48
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http://www.chcsafetyqualitysummit.com/

I think there is a difference between 'marking your calendar' and the event actually going ahead, but let's see!
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Old 2nd Oct 2016, 14:34
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Looks like there were some BIG write downs in the August SEC filing:

May - Net Loss $63 mil
Jun - Net Loss $35 mil
Jul - Net Loss $102 mil
Aug - Net Loss $659 mil
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Old 12th Oct 2016, 15:07
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I hear they've been bought.....
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Old 12th Oct 2016, 15:34
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Bailed out by one of their major lessors (Milestone):

CHC Group announces $450 million in commitments to recapitalize the company

I/C
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