What's happening in CHC?
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What rumour would that be ?? I have some good friends there that haven't mentioned anything......
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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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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News - CHC Helicopter
Previously it was anticipated to happen in July. What has accelerated the situation? Best wishes to our friends in CHC.
Previously it was anticipated to happen in July. What has accelerated the situation? Best wishes to our friends in CHC.
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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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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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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There is some concern, however, on what Fesseden's statement means for folk in CHC Global. There has been a massive downturn due to loss of contracts etc. that has led to layoffs approaching 50%. Those awaiting severance packages after layoff may not be protected , so their concerns are valid. Missing payroll? Probably not, but a competitor that was on the brink a few years back DID miss overtime pay, so what HM wondered about is still relevant.
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as our management team and Board of Directors made the strategic decision to not make a $46 million interest
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There is some concern, however, on what Fesseden's statement means for folk in CHC Global. There has been a massive downturn due to loss of contracts etc. that has led to layoffs approaching 50%. Those awaiting severance packages after layoff may not be protected , so their concerns are valid. Missing payroll? Probably not, but a competitor that was on the brink a few years back DID miss overtime pay, so what HM wondered about is still relevant.
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"... Amelio had already been batting away offers. ..."
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Amelio was ace at charitable work - employ old down and out pals to solve the company's problems, then fire them a year or so later for having failed to do just that - but not without having conveniently included a charitable severance package of $1 million + ..... way to go, Billy!
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Does that read to anyone here that CHC are on the brink of closing its doors? Certainly does not read that way to me. "Through this process we will forge a new CHC"
So they have delayed payment as per the rules within their contract,
Your idiotic statements help no one.
...why yes at a matter of fact it DOES read that way, naïveté and vitriol help NO ONE.
So they have delayed payment as per the rules within their contract,
Your idiotic statements help no one.
...why yes at a matter of fact it DOES read that way, naïveté and vitriol help NO ONE.
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Does that read to anyone here that CHC are on the brink of closing its doors? Certainly does not read that way to me. "Through this process we will forge a new CHC"
So they have delayed payment as per the rules within their contract,
Your idiotic statements help no one.
...why yes at a matter of fact it DOES read that way, naïveté and vitriol help NO ONE.
So they have delayed payment as per the rules within their contract,
Your idiotic statements help no one.
...why yes at a matter of fact it DOES read that way, naïveté and vitriol help NO ONE.
Normally you would assume that a situation like this would bring support from colleagues working in the same industry ,but sadly that is not the case here.
Pretty pathetic actually !!!! how about we spare a thought for those with families and mortgages caught up in all this.