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What's happening in CHC?

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What's happening in CHC?

Old 10th Dec 2016, 11:38
  #741 (permalink)  
 
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Originally Posted by PhilJ View Post
Didn't CHC already have the Prelude contract? I thought this was just a restart of an existing contract.
Which bit is unclear?

These new aircraft will join a fourth S-92 already in use as part of a two-year extension of the current Shell contract in place since mid-2012, CHC Group said in its statement on Thursday.
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Old 10th Dec 2016, 12:50
  #742 (permalink)  
 
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Originally Posted by 212man View Post
Which bit is unclear?
The surprise that a (planned?) escalation would be awarded to the incumbent.
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Old 13th Dec 2016, 14:06
  #743 (permalink)  
 
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Here's what I saw

The Heli-One Boundary Bay sign was taken down about two weeks ago.
The hangar staff has moved out of the facility and some of them are jammed into one small leased hangar at Boundary Bay with the rest trying to make do at the CHC YVR facility.
The rest of the H1 shops are still in the process of moving out to leased spaces in Delta away from the Boundary Bay Airport. The structure shop or what's left of it will be jammed in the CHC YVR facility with what's left in helicopters. Note that you can probably only fit three S76's in that hangar with nothing else in it.
I don't imagine things are going all that well with things spread out all over.
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Old 14th Dec 2016, 09:04
  #744 (permalink)  
 
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I see CHC is advertising for a LTC ( Line training Captain I assume) for the H175 to start ops in April from Aberdeen.
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Old 14th Dec 2016, 09:27
  #745 (permalink)  
 
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Originally Posted by PhilJ View Post
The surprise that a (planned?) escalation would be awarded to the incumbent.
I think it simply reflects the fact that the Prelude is a very large and complex project with lots of potential uncertainty about time frames. Therefore, the CHC contract will have been written to reflect that and allow scalability of support as project timelines become clearer.
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Old 14th Dec 2016, 18:44
  #746 (permalink)  
 
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Originally Posted by twisted wrench View Post
I see CHC is advertising for a LTC ( Line training Captain I assume) for the H175 to start ops in April from Aberdeen.
Can you provide a link to the ad? Thanks
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Old 14th Dec 2016, 19:14
  #747 (permalink)  
 
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Ok. Thanks
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Old 14th Dec 2016, 20:14
  #748 (permalink)  
 
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EOIs for S92 Touring Pilots.

So, so typically CHC. They've just effectively dumped half a dozen senior S92 Captains in their mismanagement of the situation at TAS.

Last edited by inputshaft; 14th Dec 2016 at 20:20. Reason: Spell check woes
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Old 15th Dec 2016, 00:58
  #749 (permalink)  
 
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Originally Posted by inputshaft View Post
They've just effectively dumped half a dozen senior S92 Captains in their mismanagement of the situation at TAS.
And likely "Black Listed" them all..
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Old 15th Dec 2016, 07:27
  #750 (permalink)  
 
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MC , yes its an internal posting , I had to check the public career site and I see is not there at this time.
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Old 15th Dec 2016, 17:53
  #751 (permalink)  
 
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Torque, why so surprised CHC getting SM? They are almost the only major operator left that doesn't offer them.
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Old 22nd Dec 2016, 13:24
  #752 (permalink)  
 
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No comments about CHC's exit from Ch 11 in Feb next year? Judge seems to be very happy with the plan.
HeliHub.com CHC: Rising from the ashes of Chapter 11
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Old 22nd Dec 2016, 14:25
  #753 (permalink)  
 
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Originally Posted by nowherespecial View Post
No comments about CHC's exit from Ch 11 in Feb next year? Judge seems to be very happy with the plan.
HeliHub.com CHC: Rising from the ashes of Chapter 11
The market was never helped by an operator running at a clear loss that in itself depressed the margins of others as they bid for business;
A good read. Lots of detail on the industry at large.
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Old 23rd Dec 2016, 03:06
  #754 (permalink)  
 
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Am I getting this right? CHC is borrowing another $300 million? That'll be the germ of the next bankruptcy then, I guess.

Seriously, I'm delighted to see CHC still alive and kicking, and on better financial footing, albeit not exactly debt-free. Not that that is even an option these days.

Now the oil price just needs to come back up again and some of us can get our job back!
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Old 23rd Dec 2016, 09:02
  #755 (permalink)  
 
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The market was never helped by an operator running at a clear loss that in itself depressed the margins of others as they bid for business;
For once I find myself agreeing with the author (many on this forum will know him). However, I would have expanded that line further:

A Chapter 11 bail out, further depresses the margins of others as they bid for business as CHC will emerge with what many would consider to be an unfair competitive advantage. If an operator was running at a clear loss then it is a pretty good indicator that there was probably too much capacity in the market place and rules of good competition policy suggest that the weakest should be allowed to fail leaving cheap assets and additional work for those that remain.


Survival of the fittest not saving of the failed?
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Old 23rd Dec 2016, 12:36
  #756 (permalink)  
 
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Max,

Surely it is not survival of the strongest (as against your weakest) ..... but rather survival of those more fitted to adapt to the dramatically changing environment. Commercial life does not deal in fairness ...... ?!
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Old 23rd Dec 2016, 17:03
  #757 (permalink)  
 
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Revolutionary : No that is not correct CHC is not borrowing 300 million, the new majority owner ( name unknown at this time) of CHC is investing the 300 million.
There should be almost no debt , the creditors are converting there debt for equity in the company ( about 1 billion is the figure I heard) and Milestone leasing will also become a part owner and has 150 million available for leasing or purchasing new aircraft. That gives 450 million they will have and virtually new debt when they emerge from bankruptcy protection. Pretty good starting point I would think.


Will be interesting to see what happens then, does the name change, brand change , aircraft colors change. I am betting there will be many new changes as the new company emerges from this process.
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Old 23rd Dec 2016, 19:10
  #758 (permalink)  
 
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I'll bet it looks a bit like this in the end.

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Old 23rd Dec 2016, 20:19
  #759 (permalink)  
 
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twisted wrench, thanks, looks like CHC will be in relatively good shape financially when all is said and done. That still leaves the very good points brought up in the HeliHub article on where to go next; Mr. Fessenden will have his hands full but at least he's got some good partners in his corner, including his former employer.

A refreshing change from the previous gentleman at the helm; he never brought anything to the table, except that the company all of a sudden was awash in Lenovo products, many of them unneeded.
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Old 23rd Dec 2016, 20:23
  #760 (permalink)  
 
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Rebranding was mentioned a few times by Karl before the Chapter 11 began. I'm sure by now they already have picked out the new company brand or narrowed it down to final choices.

As for the future of CHC I'll believe it when I see it. Its still a lot of the same management and systems at H1 and CHC that bankrupted the company under Bill Amelio. Debt was not the only ailment CHC had.

But really at the end of the day its the market that will dictate how many jobs are available to Pilots and Engineers and its still shit but it seems like (fingers crossed) the worst is hopefully behind us.

If some sort of event were to take place that made offshore more appealing than onshore fracking then you better believe there would be plenty of jobs and even the EC225 put back into service.

For now many companies can still get away with reduced aircraft on contracts and mothballing exploration jobs.
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