Mayo fatal crash helicopter firm investigated
The company that operated the R116 search and rescue helicopter which crashed off Co Mayo this year with the loss of its crew has admitted that it may be subject to legal and regulatory proceedings that could affect its profits.
CHC Ireland made the admission in the latest set of accounts published at the Companies Registration Office in the Republic.
The R116 Sikorsky helicopter was providing cover on a mission in March when it crashed into Blackrock Island. All four crew members died in the tragedy.
"Two investigations are currently under way by Republic of Ireland agencies," CHC Ireland directors said in its most recently-filed accounts. They noted that one probe is being undertaken by the Air Accident Investigation Unit (AAIU), and another joint investigation is being carried out by the police and the Health and Safety Authority.
"This accident could result in legal and regulatory proceedings, which could materially impact our revenue and profitability," CHC Ireland noted.
It added: "It is too early to determine the extent of the impact of the accident on our results of operations or financial condition based on the information currently available."
The latest accounts show that the company's profits after tax fell to €2.8m (£2.5m) in the 12 months to the end of last April.
That compared to just under €4m (£3.5m) in the previous financial year.