Yep, shares being effectively delisted. So all those employees in company share scheme get what now....?

They get nothing. The judge just dismissed a shareholder action claiming the company wanted this to happen to wipe them out and start again so those shares are now worthless.

Same as CHC for the record.

Do CHC & Bristows now have the same 'owners'/creditors?
Interesting to see what the next month or so brings with Bristows now out of bankruptcy.

Surely the best time to merge, enough turbulence to allow draconian rationalization to be implemented.
Afaik, there is no other substantial independent competitor in this space, so the new combination could look forward to a prolonged period of near monopoly operations.

norunway:

I respectfully disagree, its hard to substantiate in print because CHC, BRS and PHI are all now private companies but industry sources deep within say that CHC suffering operating losses.

etudiant:

There is a small company called Babcock and another one called PHI both of which are quite active in the industry. Maybe offshore helicopter operations is not your specialist subject. In any event, The oil and gas industry would let that situation last about 3 minutes before "anointing" another competitor, specially designed to increase competition and reduce prices as has been the mantra since 2014.

Something that might also instigate this process is the fact that CHC & Bristow have equity holders in common, who would benefit from a merger.

It could be a merger but more likely an acquisition, in the latter case most management from the company being taken over will go (no doubt with golden parachutes for senior management) and no rebranding required, which saves money.


+ NHV and there are rumours some non EU helicopter companies have acquired / are in the process to acquire an UK AOC

Prior to the Covid 19 slow down CHC had serious problems again. Apparently the race to the bottom is about to tip them over the edge.

I do love a comment without substance,, care to elaborate!!!!!

I am hearing the same rumours Medevac999.

The rumour that CHC is about to go over the edge, seems to have been doing the rounds for a very long time. Is there anything of actual substance or is it just the same old rumour going around in circles?

Let us hope that it is the same old rumour - otherwise what would be the point of pprune?

I am hearing that CHC have lost the Shell contract in the SNS, both UK and Den Helder operations will be badly affected

If true, I'd put money on the yellow machines...

In a EU listing of AOCs
EU AOC 2017
Bristow is not listed as active.
However NHV is also not listed as active.

Rumour network reminder

2015 CHC 'won' the Shell SNS contract by throwing AW139s at Shell at an unsustainable rate.
Shell laps them up. CHC fights TUPE obligations then settles 'out of court'
2016 CHC ceases to exist as a going concern and files for Chap 11.
2017 CHC emerges form Chap 11......with zero credibility and credit rating ;-)
2020 Shell SNS contract not awarded to CHC upon renewal.
TUPE n/a as contract endex.

"What goes around, comes around"

Name one global operation with a contract that needs support. Turn out the lights.

I don't know if this is pertinent to the CHC discussion, but 3 yellow/black 92s just started flying out of Mungalalu Truscott Airbase in Western Australia.