9 Aug 2012

Helicopters NZ reports $146,000 loss

5:11 am on 9 August 2012

Helicopters NZ reported a loss of $146,000 in the eight months to the end of December 2011.

HNZ's revenue stood at nearly $20 million, but acquisition costs totalled $2.5 million, and it received $2.1 million in loans from its parent, Canadian Helicopters.

Canadian Helicopters bought HNZ from the receivers of South Canterbury Finance for $154 million last year.