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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.
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