CHC Helicopter North America

CHC Group Files Voluntary Chapter 11 Petitions to Facilitate Restructuring and Position Company for Long-Term Success

IRVING, TEXAS, May 5, 2016 (GLOBE NEWSWIRE) -- CHC Group (OTC Pink Sheets: HELIQ; the "Company" or "CHC") today announced that the Company and certain of its wholly-owned subsidiaries have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas to facilitate the restructuring of its balance sheet and fleet, and position the Company for long-term success. The reorganization is expected to strengthen CHC's financial position by reducing long-term debt and enhancing financial flexibility while allowing the Company to manage and operate its fleet of aircraft.

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