CHC Awarded Aviation Support Contract With TotalFinaElf Exploration UK PLC.Energy Editors/Business Editors ST. JOHN'S, Newfoundland & LABRADOR, Canada--(BUSINESS WIRE)--March 17, 2003--CHC Helicopter Corporation (CHC CHC Chicago Cubs CHC Community Health Center CHC Chestnut Hill College (Philadelphia, Pennsylvania) CHC Congressional Hispanic Caucus CHC Community Health Council (UK National Health Service) ) (NYSE NYSE See: New York Stock Exchange :FLI FLI - Flash Lights Impressively. )(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :FLY.A)(TSX:FLY.B) is pleased to announce that its operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. , CHC Scotia Limited, based in Aberdeen, Scotland, has been awarded a four-year contract for the provision of helicopter services to TotalFinaElf Exploration UK PLC. The contract has option periods that can extend the arrangement to six years duration. This contract has been awarded following a competitive tendering process and will commence in direct continuity to a contract currently held by CHC Scotia in support of TotalFinaElf's production and exploration activities in the UK North Sea. The service will initially be provided using a Super Puma AS332L2 sole-use aircraft further supplemented by a Super Puma AS332L. In the first quarter of 2004 a new delivery AS332L2 aircraft will be introduced (replacing the AS332L), thus providing TotalFinaElf's service using two latest technology AS332L2s. The contract will commence in April 2003 and extends a long standing contractual arrangement between TotalFinaElf and CHC Scotia Ltd. The contract is consistent with TotalFinaElf's desire to use modern equipment providing state of the art safety standards Safety standards are standards designed to ensure the safety of products, activities or processes, etc. They may be advisory or compulsory and are normally laid down by an advisory or regulatory body that may be either voluntary or statutory. and complements CHC's commitment to acquiring and operating the most advanced fleet of helicopters necessary to meet its customers' needs. CHC Helicopter CHC Helicopter Corporation (sometimes known as Canadian Helicopter Corporation, Canadian Helicopters or Hélicoptères Canadiens) (TSX: FLY.SV.A TSX: FLY.MV.B NYSE: FLI) is the world’s largest global commercial helicopter operator. Corporation is the world's leading provider of heavy and medium helicopter services to the global offshore oil and gas industry, with aircraft operating in 23 countries and a team of approximately 2,500 professionals worldwide. If you wish to be added to, or removed from, the Company's distribution list, please call 709-570-0749 or e-mail communications@stjohns.chc.ca. 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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. |
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