CHC renews contract with Royal Australian Air Force for $134 million
February 26 2004 - 1:32PM
PR Newswire (US)
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 .
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