Low oil prices force CHC Group into bankruptcy protection

, Economic

CHC Group Ltd., the parent company of Vancouver-based CHC Helicopter, is the latest company to feel the squeeze from the downtown in oil prices.

IRVING, Texas — CHC Group Ltd., the parent company of Vancouver-based CHC Helicopter, is the latest company to feel the squeeze from the downtown in oil prices.

It has filed for bankruptcy protection in Texas as part of a restructuring to strengthen its financial position by reducing long-term debt while allowing it to continue operating its fleet of aircraft.

CHC Group says it expects day-to-day operations to continue without interruption throughout the court-supervised restructuring.

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