CHC has not severed ties with Aero Contractors

CHC has not severed ties with Aero Contractors

4-Jun-2010 Source: CHC

(Vancouver, British Columbia) – Media reports today incorrectly suggest that CHC Helicopter and Aero Contractors of Nigeria Company Limited (ACN) have severed their business relationship effective June 2, 2010. CHC Helicopter is committed to continue operating in Nigeria and has not severed its relationship with ACN.

It is true that due to conditions imposed by the Oceanic Bank, CHC has advised numerous parties in government as well as the Oceanic Bank, ACN and our customers that we may soon be forced to shut down operations. However, no decision on that action has yet been taken.

Negotiations between involved parties continue and, until all options are exhausted, CHC Helicopter will continue to support its business partner, ACN, and provide flying services for our valued oil and gas customers.

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