CHC Helicopter 8-K CHC Helicopter Posts Strong Ebitdar Growth In FY13 Fourth Quarter

Exhibit 99.1

CHC HELICOPTER POSTS STRONG EBITDAR GROWTH IN FY13 FOURTH QUARTER

• Q4 Revenue Down Slightly; EBITDAR Up for Ninth Straight Quarter

• Full-Year Fiscal-2013 Revenue of $1.74 Billion is CHC’s Highest Ever

• Company Reaping Benefits of Improving Capability, Efficiency

June 26, 2013 – Vancouver, British Columbia, Canada – CHC Helicopter’s ongoing transformation produced improved operating margins in its fiscal fourth-quarter 2013, resulting in strong earnings growth despite a slight revenue decline.

Revenue for Q4, which ended April 30, was $439 million, 3 percent lower than the same quarter a year ago. The company reported a net loss of $29 million, which was lower than a $48 million loss in the previous fourth quarter. Adjusted net earnings for the period was $2 million, compared with a quarterly adjusted net loss of $61 million a year ago.

CHC’s EBITDAR – earnings before interest, taxes, depreciation, amortization and aircraft rental costs, its primary gauge of operational profitability – was $137 million, 23 percent higher, reflecting improved pricing discipline and efficiency. EBITDA was $85 million, an increase of 34 percent.

For the full fiscal year, EBITDAR and EBITDA also grew faster than revenue. EBITDAR rose 15 percent and EBITDA 16 percent, while revenue was up 3 percent, to $1.74 billion. A fiscal-2013 adjusted net loss of $59 million was better than adjusted net loss of $88 million for fiscal 2012.

	Fourth Quarter									Fiscal Year
(in millions)	FY13			FY12			Change(ii)			FY13			FY12			Change(ii)
Revenue	$	439		$	453			-3	%	$	1,744		$	1,693			3	%
Net Loss	($	29	)	($	48	)		40	%	($	116	)	($	95	)		-22	%
EBITDAR(i)	$	137		$	111			23	%	$	485		$	421			15	%
EBITDA(i)	$	85		$	64			34	%	$	283		$	244			16	%
Adjusted Net Earnings (Loss)(i)	$	2		($	61	)		N/A		($	59	)	($	88	)		33	%

(i) See reconciliation to GAAP measures below.

(ii) All growth rates in this release are year-over-year unless otherwise noted.

According to CHC President and Chief Executive Officer William Amelio, the company is benefiting from a range of initiatives to enhance tools, systems and processes, and improve execution.

“We are enhancing our capability, efficiency and culture,” said Mr. Amelio, “Together those improvements are creating great service and value for customers, operating and competitive advantages for CHC, and enhanced safety for all of us.”

Helicopter Services (flying):

• Higher flying-services revenue included double-digit growth in Norway and the United Kingdom, where most bases are located for the rich North Sea oil-and-gas reserves, and Brazil, a large and rapidly expanding source for the global O&G industry.

• Helicopter Services EBITDAR was up 28 percent.

• During the quarter, CHC won 10 new contracts and bid on two dozen additional tenders that have yet to be awarded – the latter worth a combined $1.1 billion in multiyear revenue.

• The company is well along in preparing for the return of its Eurocopter 225 helicopters to full commercial service, following an industrywide suspension last October of most flights using the aircraft. Resumption of full service requires certain regulatory approvals.

Heli-One (MRO):

• Q4 external revenue for CHC’s helicopter maintenance, repair and overhaul (MRO) business was down 30 percent. EBITDAR was also down year-over-year, but at a rate nearly one-half the revenue decline, as Heli-One further streamlined its operations through Lean and other initiatives.

• Over the course of fiscal 2013, the company increased its MRO sales backlog – revenue that is expected to be recognized as contracted services are delivered over time – to a record $300 million.

CHC Helicopter is a leader in enabling customers to go further, do more and come home safely, including oil and gas companies, government search-and-rescue agencies and organizations requiring helicopter maintenance, repair and overhaul services through the Heli-One division. The company is headquartered in Vancouver and operates more than 240 aircraft in about 30 countries around the world.

#####

Segment Performance

(Expressed in thousands of United States dollars)

Segment Third Party Revenue

	For the three months ended April 30,				For the year ended April 30,
	2013		2012		2013		2012
Helicopter Services		395,212		390,185		1,603,403		1,526,060
MRO	��	43,941		62,772		140,444		166,479
Corporate and Other		—		—		—		—
Consolidated totals	$	439,153	$	452,957	$	1,743,847	$	1,692,539

EBITDAR and EBITDA Summary

	For the three months ended April 30,						For the year ended April 30,
	2013			2012			2013			2012
Helicopter Services		125,548			98,367			469,651			400,729
MRO		30,389			37,043			91,700			96,020
Corporate and Other		(17,692	)		(21,582	)		(73,802	)		(69,065	)
Eliminations		(1,115	)		(2,603	)		(2,887	)		(7,106	)
Consolidated EBITDAR (i)		137,130			111,225			484,662			420,578
Less: aircraft lease and associated costs		(52,346	)		(47,717	)		(201,736	)		(176,685	)
Consolidated EBITDA (i)	$	84,784		$	63,508		$	282,926		$	243,893

(i) See reconciliations to GAAP measures below.

Consolidated Statement of Earnings

(Expressed in thousands of United States dollars)

	For the three months ended						For the year ended
	April 30, 2013			April 30, 2012			April 30, 2013			April 30, 2012
Revenue	$	439,153		$	452,957		$	1,743,847		$	1,692,539
Operating Expenses
Direct costs		(338,708	)		(369,069	)		(1,391,837	)		(1,382,425	)
Earnings from equity accounted investees		2,031			1,202			4,718			2,844
General and administration costs		(17,692	)		(21,582	)		(73,802	)		(69,065	)
Depreciation		(47,280	)		(32,076	)		(131,926	)		(112,967	)
Restructuring costs		(2,359	)		(6,899	)		(10,976	)		(22,511	)
Asset impairments		(5,763	)		(1,988	)		(29,923	)		(17,415	)
Gain (loss) on disposal of assets		(6,464	)		5,223			(15,483	)		8,169
		(416,235	)		(425,189	)		(1,649,229	)		(1,593,370	)
Operating income		22,918			27,768			94,618			99,169
Interest on long-term debt		(33,250	)		(27,322	)		(127,199	)		(116,578	)
Foreign exchange gain (loss)		(18,395	)		9,593			(11,380	)		1,795
Other financing income (charges)		3,710			(1,045	)		(18,755	)		(15,062	)
Earnings (loss) from continuing operations before tax		(25,017	)		8,994			(62,716	)		(30,676	)
Income tax expense		(3,835	)		(50,099	)		(54,441	)		(48,217	)
Loss from continuing operations		(28,852	)		(41,105	)		(117,157	)		(78,893	)
Earnings (loss) from discontinued operations, net of tax		1			(6,579	)		1,025			(16,107	)
Net loss	($	28,851	)	($	47,684	)	($	116,132	)	($	95,000	)
Net earnings (loss) attributable to:
Controlling interest	$	(34,723	)	$	(49,304	)	$	(119,079	)	$	(107,422	)
Non-controlling interest		5,872			1,620			2,947			12,422
Net loss	($	28,851	)	($	47,684	)	($	116,132	)	($	95,000	)

Consolidated Statement of Cash Flows

(Expressed in thousands of United States dollars)

	For the three months ended						For the year ended
	April 30, 2013			April 30, 2012			April 30, 2013			April 30, 2012
Cash provided by (used in):
Operating activities:
Net loss	$	(28,851	)	$	(47,684	)	$	(116,132	)	$	(95,000	)
Earnings (loss) from discontinued operations, net of tax		1			(6,579	)		1,025			(16,107	)
Loss from continuing operations		(28,852	)		(41,105	)		(117,157	)		(78,893	)
Adjustments to reconcile net loss to cash flows provided by (used in) operating activities:
Depreciation		47,280			32,076			131,926			112,967
Loss (gain) on disposal of assets		6,464			(5,223	)		15,483			(8,169	)
Asset impairments		5,763			1,988			29,923			17,415
Non-cash financing costs (recovery)		113			65			159			(1,810	)
Earnings from equity accounted investees		(2,031	)		(1,202	)		(4,718	)		(2,844	)
Deferred income taxes		(2,358	)		41,280			20,586			32,172
Pension contributions net of pension expense		(10,337	)		(2,137	)		(39,275	)		(28,907	)
Decrease (increase) to deferred lease financing costs		(1,325	)		1,699			(4,076	)		(6,981	)
Foreign exchange loss (gain)		8,590			(5,935	)		6,694			3,415
Other		3,397			3,209			7,369			(138	)
Decrease in cash resulting from changes in operating assets and liabilities		(1,184	)		(8,864	)		(47,677	)		(22,626	)
Cash provided by (used in) operating activities		25,520			15,851			(763	)		15,601
Financing activities:
Sold interest in accounts receivable, net of collections		13,283			(15,454	)		7,262			27,203
Net proceeds from issuance of capital stock		24,922			20,000			24,922			100,000
Proceeds from issuance of senior secured notes		—			—			202,000			—
Long-term debt proceeds		356,296			267,853			1,168,745			867,853
Long-term debt repayments		(360,441	)		(221,065	)		(1,178,035	)		(786,808	)
Increase in deferred financing costs related to the notes		(178	)		(1,033	)		(3,971	)		(1,033	)
Cash provided by financing activities		33,882			50,301			220,923			207,215
Investing activities:
Property and equipment additions		(109,321	)		(123,576	)		(427,879	)		(376,624	)
Proceeds from disposal of property and equipment		145,445			53,021			353,341			218,259
Aircraft deposits, net of lease inception refunds		(22,158	)		12,053			(71,675	)		(47,307	)
Restricted cash		(8,160	)		(157	)		(5,753	)		(13,135	)
Distribution from equity investments		1,304			198			2,049			1,134
Cash provided by (used in) investing activities		7,110			(58,461	)		(149,917	)		(217,673	)
Cash provided by continuing operations		66,512			7,691			70,243			5,143
Cash flows provided by (used in) discontinued operations:
Cash flows provided by operating activities		1			3,935			1,025			2,240
Cash flows used in financing activities		(1	)		(3,935	)		(1,025	)		(2,240	)
Cash provided by (used in) discontinued operations		—			—			—			—
Effect of exchange rate changes on cash and cash equivalents		(2,118	)		1,182			(2,076	)		(18,517	)
Change in cash and cash equivalents during the period		64,394			8,873			68,167			(13,374	)
Cash and cash equivalents, beginning of period		59,320			46,674			55,547			68,921
Cash and cash equivalents, end of period	$	123,714		$	55,547		$	123,714		$	55,547

Consolidated Balance Sheets

(Expressed in thousands of United States dollars)

	April 30, 2013			April 30, 2012
Assets
Current Assets:
Cash and cash equivalents	$	123,714		$	55,547
Receivables, net of allowance for doubtful accounts		322,396			266,115
Income taxes receivable		25,871			20,747
Deferred income tax assets		49			8,542
Inventories		105,794			90,013
Prepaid expenses		22,219			21,183
Other assets		50,936			33,195
		650,979			495,342
Property and equipment, net		1,075,254			1,026,860
Investments		26,896			24,226
Intangible assets		197,810			217,890
Goodwill		430,462			433,811
Restricted cash		29,639			25,994
Other assets		438,777			363,103
Deferred income tax assets		10,752			48,943
Assets held for sale		32,047			79,813
	$	2,892,616		$	2,715,982
Liabilities and Shareholder’s Equity
Current Liabilities:
Payables and accruals	$	419,179		$	363,064
Deferred revenue		27,652			23,737
Income taxes payable		47,987			43,581
Deferred income tax liabilities		618			11,729
Current facility secured by accounts receivable		53,512			45,566
Other liabilities		22,791			23,648
Current portion of long-term debt		2,138			17,701
		573,877			529,026
Long-term debt obligations		1,475,087			1,269,379
Deferred revenue		55,990			43,517
Other liabilities		246,455			191,521
Deferred income tax liabilities		10,627			20,072
Total liabilities		2,362,036			2,053,515
Redeemable non-controlling interests		(8,262	)		1,675
Capital stock: Par value 1 Euro;
Authorized and issued:
1,228,377,771 and 1,228,377,770, respectively		1,607,101			1,607,101
Contributed surplus		80,686			55,318
Deficit		(1,059,110	)		(940,031	)
Accumulated other comprehensive loss		(89,835	)		(61,596	)
Total Shareholder’s Equity		538,842			660,792
		2,892,616		$	2,715,982

Non-GAAP Financial Measures:

This press release includes non-GAAP financial measures, adjusted net earnings (loss), segment earnings before interest, taxes, depreciation, amortization and aircraft lease rent and associated costs (“segment EBITDAR (adjusted)”) referred to above as EBITDAR and earnings before interest, taxes, depreciation and amortization (“EBITDA”) that are not required by, or presented in accordance with U.S. generally accepted accounting principles (“GAAP”). These non-GAAP measures are not performance measures under GAAP and should not be considered as alternatives to net earnings (loss) or any other performance or liquidity measures derived in accordance with GAAP. In addition, these measures may not be comparable to similarly titled measures of other companies. CHC has provided a reconciliation of these non-GAAP measures to the most directly comparable GAAP measure below. CHC has chosen to include adjusted net earnings (loss) as we consider this to be a useful measure of our results before asset impairments, gain or loss on the disposal of assets and foreign exchange gains or losses. We have chosen to include segment EBITDAR (adjusted) as we consider this to be a significant indicator of our financial performance and use this measure to assist us in allocating available capital resources. We have also included EBITDA as this measure is useful to our debt holders as it is a proxy of Adjusted EBITDA, a non-GAAP measure. Adjusted EBITDA provides useful information to investors as it is a measure to calculate certain financial covenants related to our revolving credit facility and certain covenants in our note indentures and other financing instruments. CHC has provided a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measure below and has presented a detailed discussion of its reasons for including non-GAAP financial measures and the limitations associated with those measures as part of the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained in our Quarterly Reports on Form 10-Q and Annual Report on Form 10-K. CHC encourages investors to review the reconciliation and the non-GAAP discussion in conjunction with our presentation of these non-GAAP financial measures.

EBITDA - Non-GAAP Reconciliation

(Expressed in thousands of United States dollars)

	For the three months ended April 30,						For the year ended April 30,
	2013			2012			2013			2012
Helicopter Services	$	125,548		$	98,367		$	469,651		$	400,729
MRO		30,389			37,043			91,700			96,020
Corporate and Other		(17,692	)		(21,582	)		(73,802	)		(69,065	)
Eliminations		(1,115	)		(2,603	)		(2,887	)		(7,106	)
Consolidated EBITDAR		137,130			111,225			484,662			420,578
Less: aircraft lease and associated costs		(52,346	)		(47,717	)		(201,736	)		(176,685	)
Consolidated EBITDA		84,784			63,508			282,926			243,893
Depreciation		(47,280	)		(32,076	)		(131,926	)		(112,967	)
Restructuring costs		(2,359	)		(6,899	)		(10,976	)		(22,511	)
Asset impairments		(5,763	)		(1,988	)		(29,923	)		(17,415	)
Gain (loss) on disposal of assets		(6,464	)		5,223			(15,483	)		8,169
Operating income		22,918			27,768			94,618			99,169
Interest on long-term debt		(33,250	)		(27,322	)		(127,199	)		(116,578	)
Foreign exchange gain (loss)		(18,395	)		9,593			(11,380	)		1,795
Other financing charges		3,710			(1,045	)		(18,755	)		(15,062	)
Earnings (loss) from continuing operations before tax		(25,017	)		8,994			(62,716	)		(30,676	)
Income tax expense		(3,835	)		(50,099	)		(54,441	)		(48,217	)
Loss from continuing operations		(28,852	)		(41,105	)		(117,157	)		(78,893	)
Earnings (loss) from discontinued operations, net of tax		1			(6,579	)		1,025			(16,107	)
Net loss	($	28,851	)	($	47,684	)	($	116,132	)	($	95,000	)

Adjusted net earnings (loss) - Non-GAAP Reconciliation

(Expressed in thousands of United States dollars)

	For the three months ended April 30,						For the year ended
	2013			2012			2013			2012
Adjusted net earnings (loss)	$	1,771		($	60,512	)	($	59,346	)	($	87,549	)
Asset impairments		(5,763	)		(1,988	)		(29,923	)		(17,415	)
Gain (loss) on disposal of assets		(6,464	)		5,223			(15,483	)		8,169
Foreign exchange gain (loss)		(18,395	)		9,593			(11,380	)		1,795
Net loss	($	28,851	)	($	47,684	)	($	116,132	)	($	95,000	)

Cautionary Note on Forward-Looking Statements:

This press release contains forward-looking statements and information within the meaning of certain securities laws, including the “safe harbor” provision of the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. All statements, other than statements of historical fact included in this press release, regarding our strategy, future operations, projections, conclusions, forecasts and other statements are “forward-looking statements”. While these forward-looking statements represent our best current judgment, the actual results could differ materially from the conclusions, forecasts or projections contained in the forward-looking information. Certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection in the forward-looking information contained herein. Such factors include, but are not limited to, the following: exchange rate fluctuations, trade credit risk, industry exposure, inflation, inability to enter into new contracts or the loss of existing contracts, inability to maintain government issued licenses, inability to obtain necessary aircraft or insurance, competition, political, economic and regulatory uncertainty, loss of key personnel, work stoppages due to labor disputes, accidents, mechanical failures, regulatory actions and future material acquisitions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. The Company disclaims any intentions or obligations to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Please refer to our annual report on Form 10-K, our quarterly reports on Form 10-Q, and our other filings, in particular any discussion of risk factors or forward-looking statements, which are filed with the SEC and available free of charge at the SEC’s website (www.sec.gov), for a full discussion of the risks and other factors that may impact any estimates or forward-looking statements made herein.