CHC Group has successfully concluded its financial restructuring and emerged from Chapter 11 as its court-confirmed plan of reorganization went into effect on March 24, 2017, the company said.
In conjunction with CHC´s emergence from its court-supervised financial restructuring process and pursuant to the plan, the company received USD 300m in new capital from its existing creditors.
The plan also provides the company terms for restructured aircraft leases and the option for additional asset based financing commitments of USD 150m from The Milestone Aviation Group Limited and its affiliates.
CHC Helicopter provides helicopter service in some of the most remote and challenging environments around the world. The company has extensive experience transporting customers in the oil and gas industry, supporting search-and-rescue and EMS contracts, and providing maintenance, repair and overhaul services.