Helicopters NZ posts small loss in debut for Canadians, nabs Shell Philippines contract

Tue, 07 Aug 2012

By Paul McBeth Aug. 7 (BusinessDesk) - Helicopters NZ, acquired by Canadian Helicopters from the failed South Canterbury Finance last year, was dragged into the red in its debut reporting period under new owners because of related party interest costs and the bill to cover the acquisition. The company posted a loss of $146,000 between April 12 and Dec. 31 last year, according to its maiden financial statements lodged with the Companies Office. That included a $2.3 million bill to cover the $106 million cash acquisition, and $2.1 million of f...

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