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CHC Group marks $11.82 million operating loss for month ended Oct. 31
By Caroline Salls
Pittsburgh, Nov. 21 – CHC Group Ltd. reported an $11.82 million operating loss for October on $71.2 million of revenue, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Northern District of Texas.
In comparison, CHC posted an $8.87 million operating loss for September on $70.91 million of revenue.
The net loss for October was $79.6 million, widening significantly from a $20.03 million September net loss.
The October results included $38.39 million of financing charges and an $18.85 million claims adjustment related to debt valuation.
CHC had $164.17 million of cash as of Oct. 31, down from $178.25 million at the end of September.
Based in Richmond, B.C., CHC is a commercial helicopter operator. It filed for Chapter 11 on May 5, 2016 under case number 16-31854.
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