CHC Helicopter Corp. record first quarter earnings.

ST. JOHN'S, Newfoundland--(BUSINESS WIRE)--Aug. 19, 1996--CHC Helicopter Corporation (TSE: FLY.A and FLY.B, NASDAQ: FLYAF) today announced its results for the fiscal 1997 first quarter ended July 31, 1996: -0-

                                   Three Months Ended
                                        July 31,
                              ($million except per share data)
                                   1996          1995
Revenue                           101.7         102.4
Net earnings                        6.5           6.1
Cash flow from operations          14.0          13.2
Per share information
Average number of shares (million) 11.7           11.6
Earnings per share                 0.56           0.52
Cash flow per share                1.19           1.14
Book value                         8.73           8.44

COMMENTS

    The Corporation is pleased to report its highest ever quarterly
net earnings of $6.5M (56 cents per share).  This represents a 7%
increase over fiscal 1996 first quarter of $6.1M (52 cents per
share) and builds upon the strong improvement in performance shown
throughout fiscal 1996.  Operating cash flow at $14.OM rose 6%
over the $13.2M reported in the same period last year.  With these
results CHC continues to deliver improved bottom line performance
and strong financial results to our shareholders.
    Growth continues in our repair and overhaul businesses.  ACRO
Aerospace, our helicopter repair and overhaul division increased
third party revenue by 25% over the previous year and both repair
and overhaul divisions reported higher operating margins in the
quarter.
    In helicopter operations, continued high levels of activity in
Eastern Canada helped to partially offset the effects of reduced
logging and firefighting activity in Western Canada and a lower
volume of international work compared to last year.
    Subsequent to the quarter end we reported the award of two major
long term contracts for our International division (CHI) and our
fixed wing repair and overhaul, Atlantic Turbines Inc. (ATI).  CHI
was awarded a seven year contract with Unocal in Thailand
commencing December 1, 1996.  We have worked for Unocal in
Thailand for 20 years.  The contract value exceeds $70M over the
seven years.
    Additionally, ATI was awarded a five year contract to service
Continental Express Pratt & Whitney 100 series engines.  This
contract is expected to produce revenues of between $50M-$70M over
the five year period.  These contracts will help to ensure that
the earnings improvement shown by CHC in recent quarters will
continue into the future.
    Expansion of both fixed wing and helicopter repair and overhaul
operations remain one of the main objectives of the Corporation in
the current fiscal year.
    CHC Helicopter Corporation, through its subsidiary companies,
provides helicopter transportation, and aviation repair and
overhaul services on a worldwide basis.  The company operates in
excess of 200 light, medium and heavy helicopters across Canada
and around the world.  Aviation repair and overhaul services for
helicopters and fixed wing engines are completed in custom-built
facilities in Vancouver and Prince Edward Island respectively.
The company employs over 1,600 people.

CONTACT: CHC Helicopter Corp., St. John's

Christopher Lloyd, 709/570-0595

Max Parsons, 709/570-0587