CHC Helicopter Corporation

CHC Helicopter Corporation

June 14, 2006 08:30 ET

CHC to Provide Eight New Aircraft in Support of Brazilian Offshore Operations

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 14, 2006) - CHC Helicopter Corporation ("CHC") (TSX:FLY.A)(TSX:FLY.B)(NYSE:FLI) announced today that it has been awarded, through BHS- Brazilian Helicopter Services Taxi Aereo ("BHS"), a new five-year contract for the provision of eight Sikorsky S-76C+ helicopters in support of Petrobras' operations in the Brazilian offshore sector. The addition of these new aircraft doubles the size of the CHC fleet in Brazil to 16 aircraft on contract.

The Petrobras contract is expected to commence in January, 2007, with the aircraft phased in over an eight month period. Total revenue anticipated from this contract is estimated at approximately CDN$170 million over five years.

CHC has exercised its option to acquire a significant equity position in BHS. The acquisition is expected to close in the second quarter.

CHC Helicopter Corporation is the world's largest provider of helicopter services to the global offshore oil and gas industry, with aircraft operating in more than 30 countries around the world.

Forward Looking Statements

Statements in this press release contain projections and other forward-looking statements involving known and unknown risks and uncertainties which may cause our performance to be materially different from that implied. Actual revenue generated over the term of the contract will depend upon hours flown, which may vary at Petrobras' discretion; the actual term of the contract, which is subject to early termination by the customer; and to contract obligations which are subject to certain penalties in the event they are not fulfilled. While these projections and other statements represent our best current judgement, they may involve additional risks and uncertainties including, but not limited to, factors detailed in CHC's Annual Report on Form 20-F and in other filings with the United States SEC and the Canadian securities regulatory authorities. Unless otherwise required by applicable securities laws, CHC disclaims any intention or obligation to update or revise any forward looking information, whether as a result of new information, future events or otherwise.

Contact Information

  • CHC Helicopter Corporation
    Rick Davis, CA
    Acting Chief Financial Officer
    (604) 279-2471
    CHC Helicopter Corporation
    Chris Flanagan
    Director of Communications
    (604) 279-2493