The slump in global oil and gas prices has claimed its first victim in the offshore helicopter industry. By filing for Chapter 11 bankruptcy protection on May 5, helicopter operator CHC is hoping to restructure its finances and reconfigure its fleet for the long term. But with oil prices sticking stubbornly below $50 a barrel—and little sign of an increase in sight—offshore operators are having to face a new reality. As little as three years ago, those companies were placing ...

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