CHC Group expects to become cash flow positive in fiscal year 2019

By Caroline Salls

Pittsburgh, Aug. 15 – CHC Group Ltd. informed some of its customers on Aug. 11 that it outlined a cost structure through comprehensive restructuring of operating costs, leases and financial debt to allow the company to be cash flow positive in fiscal year 2019, according to an 8-K filed Monday with the Securities and Exchange Commission.

The cost-structure outline was prepared in connection with the company’s three-year business plan.

CHC said it will be cash flow positive in 2019 before the positive effect of any financing or investment activities.

Based in Richmond, B.C., CHC is a commercial helicopter operator. It filed for Chapter 11 on May 5 in the U.S. Bankruptcy Court for the Northern District of Texas under case number 16-31854.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.