CHC Helicopter receives investment cash

CHC Helicopter has said that its owner, First Reserve
Corp has delivered $80 million against a commitment of an additional $100
million in equity in the global helicopter-services company. The new investment
will fund continued expansion that CHC announced in September.  The investment balance should be made
available in the next two to three months.

“Every indication is that demand for offshore
helicopter services will continue to increase at a very healthy rate,”
said William Amelio, CHC’s president and chief executive officer. “That’s
being driven by the largest part of our business, where oil-and-gas producers
are exploring in and opening up new frontiers, and in developing areas like
search-and rescue and wind-energy generation.”

He continued “The benefits of industry growth
aren’t going to be equally distributed, and we think our leading safety record,
reputation for customer service and extensive global reach together favour CHC.
First Reserve’s additional investment clearly shows it shares our optimism.”

Terry Spruce

Terry is Senior News Editor and writes for both Corporate Jet Investor and Helicopter Investor. He is also responsible for our helicopter guides. Terry has been an aviation enthusiast since the early 1970s. He is a lapsed Private Pilot and ex-Piper Cherokee owner. He has flown a number of light aircraft and is comfortable sitting in the co-pilot's seat or the back of any aircraft. Before moving to journalism he was a banker for 20 years. You can contact him at: terry@corporatejetinvestor.com or follow him on twitter @Terry_Spruce

You may also like...