Dallas, Texas 03/20/2014 (FINANCIALSTRENDS) – CHC Group Ltd. (NYSE:HELI) which announced its fiscal-2014 third quarter results reported 3% increase in it Revenue for the quarter at $454 million compared to $442 million during the same quarter previous year. The operating revenue also increased by 3% during the quarter at $412 million compared to $400 million during the same period last quarter. The quarterly net loss of was $60 million, compared to a net loss of $59 million in the same quarter last year. CHC reported revenue of $1.31 billion, through the first three quarters of the fiscal year, up less than 1 percent, and a net loss of $149 million, compared to a net loss of $85 million a year ago.
The company received $322 million from its initial public offering of its ordinary shares. CHC used proceeds from IPO and existing cash to pay an outstanding balance of $225 million and also to redeem $130 million of senior secured notes last month.
CHC Group Ltd. (NYSE:HELI) Heli One To provide maintenance support To Makila engines
According to the company’s report, its division Heli-One was certified by U.K. Ministry of Defence Military Aviation Authority to provide helicopter-maintenance support services. This is the first certification for Heli-One to provide support to Makila engines fitted to MoD aircraft. This approval comes after United Kingdom’s Ministry of Defence preferred Heli-One as Contractor Logistic Support (CLS) provider on long term for the Makila engines fitted in the MoD’s Puma HC2 helicopter. According to the reports, Heli-One is a leader in CLS in terms of service level and responsiveness.
Heli-One sales director for Europe and the Middle East reportedly stated this certification is the outcome of value Heli-One delivers its customers and the efficiency and superiority of our support.