The Ontario Superior Court of Justice granted Great Slave Helicopters (Yellowknife) bankruptcy protection and gave the airline until October 17, 2018, to solicit bids from investors.
The court allowed the airline to sell all or some of its assets to a prospective bidder. It also ordered that the potential transaction has to conclude by November 23, 2018.
Great Slave Helicopters was initially for sale as a part of bankruptcy proceedings of its parent, Discovery Air. In early September, the court opened proceedings under the Companies' Creditors Arrangement Act against the helicopter charter specialist itself.
The airline specialises in helicopter charter services out of Yellowknife in Canada's Northwest Territories.
