CHC Group marks $149,925 of operating income for month ended Feb. 28

By Caroline Salls

Pittsburgh, March 21 – CHC Group Ltd. reported $149,925 of operating income for February on $66.7 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 a $4.12 million operating loss for January on $66.71 million of revenue.

The net loss for February was $267.37 million, widening from a $117.38 million January net loss.

The February results included $243.12 million in adjustments to allowed claims and debt valuation, compared with $108.56 million for the previous month.

CHC had $116.61 million in cash as of Feb. 28, down from $132.11 million at the end of January.

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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