CHC To Grow By 60 Choppers
The largest helicopter
service provider for the North Sea market plans to add 60 choppers
to its fleet over the next two years.
CHC Helicopter Corporation, with main headquarters in Vancouver,
British Columbia cited rapid growth in demand for service from the
offshore oil industry -- not surprising with everyone trying to
reduce dependence on foreign (read middle east) oil.
According to CBC News, this is the biggest expansion in the
company's history. Company CEO Sylvain Allard told shareholders it
was necessary to take advantage of current growth opportunities
saying, "Our customers need it and they need it fast."
The company will add 40 aircraft in 2007 with another 20 planned
in 2008. On average, says the company, after financing, it costs
about $500,000 to add a new helicopter to the fleet.
Heli-One, CHC's maintenance subsidiary, is building a new $30
million facility just southeast of Vancouver that should help with
the increased workload. The 235,000 sq ft facility will give the
company more room for maintenance, repair and overhaul
CHC's core business is providing service to offshore drilling
operators, but it also provides search and rescue services,
helicopter training and maintenance for third-party customers.
The chopper service provider maintains headquarters in
Vancouver and Aberdeen, Scotland. For its North Sea operations --
the world's largest offshore market -- it flies out of 17 bases in
the UK, Ireland, Denmark, Norway and the Netherlands.
The company has ongoing operations in Australia, Brazil,
Thailand, the Philippines, the Middle East, South Africa, Ecuador,
Angola, Gabon, Equatorial Guinea, Eastern Canada and many
CHC currently operates a fleet of 250 aircraft.