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CHC renews contract with Royal Australian Air Force for $134 million
ST. JOHN'S, NF, Feb. 26 /PRNewswire-FirstCall/ -- CHC Helicopter Corporation
("CHC") (TSX: FLY.A and FLY.B; NYSE: FLI) today announced that its operating
division, CHC Australia, has been successful in renewing its contract with the
Commonwealth Government of Australia to provide Search and Rescue helicopters
and crews for the Royal Australian Air Force ("RAAF") for a period of 10 years,
plus two option periods of two years each.
The new contract, which commences July 1, 2004, will generate anticipated
revenues of approximately CDN$134 million over the initial 10-year period.
Under the terms of the contract, CHC will provide a core of five specially
equipped Sikorsky S76A++ auto-hover capable helicopters at four RAAF bases
across Australia. CHC will provide additional support to RAAF fighter squadron
deployments to remote bases in Australia, using Bell 412, Bell 212 and S76
aircraft from the CHC fleet. CHC has provided sophisticated helicopter Search
and Rescue support to the Royal Australian Air Force for more than 10 years.
CHC Helicopter Corporation is the world's largest provider of helicopter
services to the global offshore oil and gas industry, with aircraft operating in
30 countries and a team of approximately 3,500 professionals worldwide.
This press release may contain projections and other forward-looking statements
within the meaning of the "safe harbour" provision of the United States Private
Securities Litigation Reform Act of 1995. While these projections and other
statements represent our best current judgement, they are subject to risks and
uncertainties that could cause actual results to vary. These statements may
involve risks and uncertainties including, but not limited to, factors detailed
in CHC's Annual Report on Form 20-F and in other filings with the United States
SEC. Should one or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual outcomes may vary materially from
those indicated.
DATASOURCE: CHC Helicopter Corporation
CONTACT: Jo Mark Zurel, Senior Vice-President & Chief Financial Officer,
(709) 570-0567; Derrick Sturge, Vice President Finance & Corporate Secretary,
(709) 570-0713; Chris Flanagan, Director of Communications,
(709) 570-0749/685-1537. If you wish to be added to, or removed from, the
Company's distribution list, please contact .