Heli-One and Helijet Sign Letter of Intent for Five-Year, $30M Sikorsky S-76C+ Supply

March 7, 2017 – Richmond, British Columbia, Canada – Heli-One, a leading global provider of helicopter maintenance, repair, and overhaul (MRO) services, is pleased to announce the signing of a Letter of Intent with Helijet International to provide fleet upgrade helicopter services utilizing Sikorsky S-76C+ aircraft. As part of the agreement, up to six Sikorsky S-76C+ aircraft will be supplied and custom-completed for Helijet. Heli-One will provide maintenance support for these aircraft over the next five years including PBH coverage for main gearboxes and power plants, in addition to supplying consignment spares as required.

The newer aircraft will modernize Helijet’s Sikorsky S-76 fleet, further enhancing operational capability, performance, and high safety standards. The new terms of arrangement also leverage the proximity of Heli-One’s engineering location to Helijet - facilitating faster turnaround times and minimizing aircraft downtime.

Based in Richmond, BC, Helijet International is the world's largest helicopter airline,, flying more than 300 weekly flights to city destinations in British Columbia, Canada. Through its wholly owned subsidiary, Pacific Heliport Services, Helijet also manages and operates three Transport Canada certified heliports, affording seamless city-to-city air transport to more than 2.2 million passengers to date.. Helijet operates both rotary and fixed-wing aircraft, including Airbus AS350, Sikorsky S-76, Bell 206L3, Learjet 31A and Hawker 800A.

This helicopter supply and support arrangement is through Heli-One Total Solutions, which enables operators to combine leasing and maintenance service contracts through a single provider with predictable invoicing. This provides operators with a single and consistent point of contact for both leasing and support services facilitating faster communication and improving service efficiency.

“Helijet selected Heli-One’s proposal for the complete supply and support of Sikorsky helicopters based on their industry-leading reputation and commitment to meeting all of Helijet’s operating and financial requirements,” stated Daniel Sitnam, President and CEO of Helijet. “We look forward to further solidifying the details towards a long-standing business relationship with a world-class aviation engineering firm.”

Heli-One Canada is an Approved Sikorsky S-76 Service Centre with on-site gearbox testing facilities. The team has extensive experience supporting the S-76 (including variants A, B and C) with capability for Nose-to-Tail PBH coverage including airframes, components, engines and avionics. In addition, Heli-One has developed more than 400 post-delivery modifications and proprietary in-house repairs. These effective and quality solutions are designed to save cost and minimize downtime for customers.

"We are pleased to help Helijet expand their fleet of S-76 aircraft and provide ongoing support for their program,” said Anthony DiNota, President, Heli-One. “Helijet’s team is well- experienced in this durable helicopter model and we look forward to expanding value through knowledge sharing and close partnership. Our facilities' close proximities and shared regional pride make this a particularly special partnership. As an Approved Service Centre with a wealth of post-delivery modification experience, the Heli-One team looks forward to supporting Helijet and optimizing the operational potential of their fleet.

 

About Helijet

Based in Richmond, BC, Canada, Helijet International is the world's largest helicopter airline. Helijet is also the largest air medical service provider of helicopters to the Province of British Columbia as well as offering helicopter and turbojet air service solutions to world-renowned sport fishing resorts and public or private energy sectors throughout BC’s West Coast and the Pacific North West. Helijet, in partnership with its medical service provision partner, also offers turbojet medical air service provision to clients throughout the North Americas and the Asias.

http://helijet.com/

About Heli-One

Heli-One is based in Richmond, British Columbia, Canada, and has MRO operations in Richmond, Canada; Delta, Canada; Stavanger, Norway; Fort Collins, Colorado; and Rzeszow, Poland. Heli-One is the world’s largest independent helicopter MRO and hold certifications and expertise on a broad range of airframes and components from major helicopter and engine manufacturers, including Airbus, Sikorsky, Leonardo (AgustaWestland), Bell, Safran, Pratt & Whitney and General Electric.

Heli-One is a segment of CHC Helicopter, the operating company of CHC Group Ltd. (OTC Pink Sheets: HELIQ)

More about Heli-One: http://heli-one.com

 

Heli-One Contact Information

MEDIA
Cameron Meyer
Communications Specialist
+ 1.214.262.7391
Cameron.Meyer@chcheli.com

 

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This press release and other statements that we may make contain forward-looking statements. Forward-looking statements are statements that are not historical facts and include statements about our expectations for the timing and execution of our restructuring plan, our future financial condition and future business plans and expectations, the effect of, and our expectations with respect to, the operation of our business, adequacy of financial resources and commitments and operating expectations during the pendency of our court proceedings. Such forward-looking statements are based upon the current beliefs and expectations of our management, but are subject to risks and uncertainties, which could cause actual results and/or the timing of events to differ materially from those set forth in the forward-looking statements. These risks and uncertainties are detailed from time to time in our filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended April 30, 2016 and its quarterly report for the period ended October 31, 2016. The Company’s filings with the Securities and Exchange Commission are available at www.sec.gov. You are urged to consider these risks and other factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. No assurances can be given that our efforts to effectively reorganize under Chapter 11 of the Bankruptcy Code will ultimately be successful or that we will succeed in strengthening our balance sheet or increase our financial flexibility. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Nothing in this press release shall constitute a solicitation of any holders of any of our indebtedness or our securities or an offer to buy or sell, or a solicitation of an offer to buy or sell, any securities of the Company. Any securities that may be offered pursuant to our Chapter 11 proceedings will not be or have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

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