CHC Group Ltd. provides commercial helicopter services to the offshore oil and gas industry worldwide. The company operates in 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 services, and emergency medical services to government agencies. As of April 30, 2014, it operated a fleet of heavy and medium commercial helicopters serving the offshore oil and gas industry with 236 helicopters through a network of approximately 70 bases in approximately 30 countries. In addition, the company provides maintenance, repair, and overhau...
190 Elgin Avenue
George Town, KY1-9005
Founded in 1987
CHC Helicopter Appoints Karl S. Fessenden as Chief Executive Officer and Member of Board of Directors, Effective February 9, 2015
Feb 6 15
CHC Group Ltd. announced that the board of directors has appointed Karl Fessenden chief executive officer and a member of the board of directors effective February 9, 2015, replacing William Amelio, who will be leaving the company. Mr. Fessenden joins CHC from GE, where over his 20-year career at the company he successfully led multiple global service business units, at GE Energy and GE Aviation.
CHC Group Ltd. Appoints William G. Schrader to its Board of Directors
Dec 15 14
CHC Group Ltd. announced that William G. Schrader was appointed to its board of directors on Dec. 12, 2014. An independent, Class II director, Mr. Schrader’s term is until the company’s 2015 annual general meeting of shareholders. He was also elected to serve on the board’s audit committee and health, safety and environment committee. Mr. Schrader is former chief operating officer of TNK-BP. At TNK-BP, he oversaw the upstream and downstream gas and power operations, supply chain management, technology, and health, safety and environment functions. Mr. Schrader’s career also includes other senior assignments at BP plc and the Azerbaijan International Operating Company.
CHC Group Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended October 31, 2014; Reports Asset Impairments for the Second Quarter Ended October 31, 2014
Dec 10 14
CHC Group Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended October 31, 2014. For the quarter, the company reported revenue of $458 million against $443 million a year ago. Operating revenue was $414 million against $403 million a year ago. EBITDAR was $125 million against $109 million a year ago. Net loss was $25 million against $26 million a year ago. Net loss per ordinary share was $0.31 against $0.34 a year ago. Loss before income tax was $169,515,000 against $45,789,000 a year ago. Adjusted net loss available to common stockholders was $25,095,000 against $26,449,000 a year ago. Free cash flow used was $209 million against $173 million a year ago. Revenue up 3% driven by: Growth in new contracts in both Helicopter Services and Heli-One segments EBITDAR up 14% Improved margins from contracts in Helicopter Services EC225 fleet fully available Reduction in maintenance cost from transformation benefits and timing of maintenance events. Adjusted EBITDAR was $122,732,000 against $107,730,000 a year ago.
For the six months, the company reported revenue of $919 million against $858 million a year ago. Operating revenue was $835 million against $776 million a year ago. EBITDAR was $237 million against $220 million a year ago. Net loss was $62 million against $58 million a year ago. Net loss per ordinary share was $0.77 against $0.75 a year ago. Adjusted net debt was $2,361 million against $2,648 million a year ago. Loss before income tax was $195,947,000 against $76,164,000 a year ago. Adjusted net loss available to common stockholders was $61,767,000 against $58,011,000 a year ago. Net debt as at October 31, 2014 was $1,383 million. Cash flow used in operating activities was $26 million against $20 million a year ago. Total free cash flow was $209 million against $173 million a year ago. Adjusted EBITDAR was $233,128,000 against $219,109,000 a year ago. Net debt as of October 31, 2014 was $1,383,000. Adjusted net debt as of October 31, 2014 was $2,631,000.
For the quarter, the company reported asset impairments of $146,131 million against $15,690 million a year ago.