CHC Group Ltd. provides commercial helicopter services to the offshore oil and gas industry worldwide. The company operates through two segments, Helicopter Services and Heli-One. Its helicopters are primarily used to facilitate long-distance crew changes on offshore production facilities and drilling rigs. The company also offers search and rescue, and emergency medical services to government agencies. In addition, it provides maintenance, repair, and overhaul services, including maintenance outsourcing solutions, parts sales and distribution, engineering services, design services, and logistics support for heavy structural repairs, as well as for maintaining, overhauling, and testing helic...
190 Elgin Avenue
George Town, KY1-9005
Founded in 1987
CHC Group Ltd. Confirms Delisting Notice From NYSE
Feb 1 16
CHC Group Ltd. announced that it received written notice from the NYSE Regulation, Inc. that the NYSE has delisted the Company's ordinary shares, pursuant to Section 802.01B of the NYSE's Listed Company Manual requiring NYSE-listed companies to maintain an average market capitalization of $15 million or more over the preceding thirty trading days. The NYSE also suspended trading of the Company's ordinary shares effective immediately. The NYSE notice indicates that it will apply to the Securities and Exchange Commission (SEC) to delist the ordinary shares upon completion of all applicable procedures. The Company is taking steps necessary to have its ordinary shares quoted for trading on the OTCQX Best Market ("OTCQX"), operated by OTC Markets Group Inc., under the trading symbol HELIF. The Company anticipates that its ordinary shares will begin trading on the OTCQX at market open on February 2, 2016, or as soon thereafter as practicable. This transition to the OTCQX market does not directly affect the Company's commercial operations and does not change its obligation to file periodic and certain other reports with the US Securities and Exchange Commission under applicable US federal securities laws. Company shareholders will remain registered owners of their ordinary shares of the Company.
CHC Group Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended October 31, 2015; Reports Asset Impairments for the Second Quarter Ended October 31, 2015
Dec 8 15
CHC Group Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended October 31, 2015. For the quarter, the company reported revenue of $360,753,000 compared to $458,222,000 a year ago. Operating loss was $7,012,000 compared to $123,709,000 a year ago. Loss before income tax was $38,022,000 compared to $169,515,000 a year ago. Net loss available to common stockholders was $55,570,000 or $0.68 per basic and diluted share compared to $214,822,000 or $2.67 per basic and diluted share a year ago. Adjusted EBITDAR was $119,895,000 compared to $122,732,000 a year ago. Adjusted net loss was $20,217,000 compared to $25,068,000 a year ago.
For the six months period, the company reported revenue of $736,690,000 compared to $918,870,000 a year ago. Operating loss was $20,815,000 compared to $115,852,000 a year ago. Loss before income tax was $78,756,000 compared to $195,947,000 a year ago. Net loss available to common stockholders was $105,880,000 or $1.30 per basic and diluted share compared to $256,922,000 or $3.19 per basic and diluted share a year ago. Cash used in operating activities was $26,896,000 compared to $26,288,000 a year ago. Property and equipment additions were $106,952,000 compared to $247,742,000 a year ago. Adjusted EBITDAR was $231,413,000 compared to $233,128,000 a year ago. Adjusted net loss was $53,904,000 compared to $61,740,000 a year ago. Net debt as at October 31, 2015 was $1,242.9 million. Free cash outflow was $146,721,000 compared to $208,821,000 a year ago. This was driven by a reduction in aircraft related capital expenditures due to capital efficiency measures taken.
The company reported asset impairments of $10,459,000 for the second quarter ended October 31, 2015 compared to $146,131,000 a year ago.