Product Code Database
CHC Helicopter is a Texas-based helicopter services company.
CHC Helicopter maintains its global headquarters in Irving, Texas and operates with 109 aircraft in over 10 countries across four continents. CHC's major international operating units are based in Australia, Brazil, the Netherlands, Norway, and the United Kingdom. The company is one of several global providers of helicopter transportation services to the offshore oil and gas industry (others including Bristow Helicopters and NHV).
CHC provides helicopter services to the offshore energy markets, search and rescue operations, and government departments, as well as organizations requiring helicopter maintenance, repair, and overhaul services through its Heli-One division.
Early on, Okanagan Air Services operated only fixed-wing aircraft, such as a pair of Cessna 140s, to perform charter and training flights. Agar became interested in the potential of the newly emerging helicopter and of its potential application to the commercial market; the three men travelled to Yakima to attend a demonstration of the Bell 47, the first commercially certified helicopter. Upon their return, they immediately set about securing backers from which to finance their expansion into rotorcraft. In July 1947, the company was able to raise sufficient finance to purchase its own Bell 47-B3 helicopter, CF-FZX, as well as to funding training on both its maintenance and piloting. Upon its delivery on 9 August 1947, it was the first commercially licensed helicopter in British Columbia.
The company's initial use of its helicopter largely revolved around crop dusting; on 1 September 1947, CF-FZX was damaged after striking powerlines, but was repaired after several months. While it became clear that small-scale crop dusting was not economic with the type, insect spraying was more lucrative however. Agar's flying skills proved valuable during mountain flying in support of government topographic survey efforts; this pioneering use of a helicopter led to Agar being awarded the Trans-Canada Trophy in 1950 and gain valuable publicity for the company. Further mountain survey flights led to Okanagan receiving contracts from companies like Alcan to support remote construction projects and to transport personnel or equipment to and from the wilderness. Even so, the company remained unprofitable for its first few years.
The 1970s was a period of transformation for Okanagan. Only Bent remained on staff by this point as both Agar and Stringer had resigned during the 1960s over disputes on how the company ought to be run. Okanagan embarked on a spree of acquisitions, purchasing companies such as Universal Helicopters, Haida Helicopters, Lac Saint-Jean Aviation, Dominion-Pegasus Helicopters, Sept-Iles Helicopter Services, Associated Helicopters and Bow Helicopter. By 1975, 20 percent of the company's revenue came from international sources; a dedicated international division was established to manage this business sector. Furthermore, as a result of the turboshaft engine having displaced the piston engine on newer and more capable helicopters, Okanagan began to introduce turbine-powered rotorcraft into its fleet, including the Bell 204, Bell 212, Sikorsky S-58T, Sikorsky S-62, and Sikorsky S-76.
By 1981, Okanagan was the largest helicopter company in Canada, operating a fleet of 125 helicopters, along with 900 employees and annual revenues of $83 million Cdn. The company attracted the attention of various investors, leading to a takeover by Canadian oil company Resource Service Group; soon thereafter, Alan Bristow, the founder of Britain's Bristow Helicopters, acquired a 49 percent ownership stake in the company.
During the 1990s and 2000s, CHC continued to acquire various other operators, including British International Helicopters in 1994; Helicopter Services Group of Norway in 1999 (including Bond Helicopters), Helikopter Service AS, Lloyd Helicopters of Australia and Court Helicopters of South Africa. In 2004, CHC purchased Schreiner Aviation Group, which specialized in provided offshore helicopter services in the Netherlands sector of the North Sea and to the offshore industry. In 2000, CHC agreed with Fonds de Solidarité FTQ (FSTQ) and the management of its two Canadian divisions, Canadian Helicopters Eastern and Canadian Helicopters Western, to sell an interest in CHC's Canadian assets via a management buyout to form Canadian Helicopters; consequently, senior management and FSTQ acquired 10% and 45% equity interests in Canadian Helicopters, respectively, while CHC retained a 45% equity interest.
During 2004, CHC decided to reorganize its operations into two principal divisions; Helicopter Services became responsible for the firm's global operations, while Heli-One functions as the world's largest independent provider of helicopter maintenance, repair, and overhaul services. As part of the restructuring, the company relocated its corporate headquarters from St. John's, Newfoundland and Labrador to Richmond, British Columbia.
In late February 2008, all of CHC's shares were purchased by First Reserve, a US private equity company, for CAD$3.7 billion ($3.5 billion), following the latter's uninvited offer. Around this same time period, the word "Corporation" was dropped from the company's name, having been formally rebranded as CHC Helicopter. In January 2014, the company announced its intention to raise up to $529 million through an initial public offering, the proceeds of which it mainly intended to use to paydown its outstanding debts. On January 16, 2014, CHC announced an initial public offering of 31,000,000 shares at a price of $10 per share.
On January 15, 2016, CHC offered 31,000,000 shares at US$5.17. On February 1, 2016 the New York Stock Exchange delisted the CHC'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. On May 5, 2016, the company filed for Chapter 11 Bankruptcy. CHC's bankruptcy was attributed to recent drops in the price of oil having negatively impacted revenue, making it unable to service the company's high burden of debt; other helicopter operators were also reported to be struggling under the prevailing economic conditions of the period as well. Reflecting the company's drop in performance, CHC's share value dropped from US$176.10 on November 17, 2014 to US$0.45 by June 17, 2016. During July 2016, a Texas court allowed CHC to shed 65 helicopters from its financial obligations, the majority of its Eurocopter AS332 Super Puma fleet. On March 1, 2017, a reorganized CHC emerged, relaunching its brand and web presence. Key creditors took over majority ownership of the newly restructured company, but the deal froze out existing shareholders. In December 2019, a 18-month-long dispute between CHC and British trade union staff over pay was settled.
CHC, as part of the Soteria SAR consortium was selected as the "Preferred Bidder" for a 25-year contract to provide a civilian Search and Rescue service throughout the United Kingdom. However, days before the contract was due to be signed in February 2011, the British Government halted the process after CHC disclosed that it had unauthorised access to commercially sensitive information. The Soteria SAR was cancelled and the contract was awarded to back to Bristow Helicopters, who had operated the coastguard helicopters from Stornoway Airport, Sumburgh Airport, RNAS Lee-on-Solent (HMS Daedalus) and RNAS Portland (HMS Osprey) during the time of the Royal Navy and the Royal Air Force operating their Westland Sea Kings, prior to the Soteria SAR being set up.
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| Nowra |
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| Macae |
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| Farol de São Tomé |
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| Edmonton |
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| Sola (Stavanger) |
| Svalbard |
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| Global Distribution Centre |
Poland
| Rzeszow |
USA
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