The Canadian company which has bought Helicopters New Zealand (HNZ) says it does not envisage any job losses,
The business was one of a number of assets held by failed South Island lender South Canterbury Finance.
The lender was placed in receivership in August last year, costing the Government $1.8 billion.
HNZ has now been sold for $160 million to Canadian Helicopters.
Chief executive Don Wall describes the price as fair, and not an "inexpensive deal".
Mr Wall says HNZ has a reputation of being a well run company with a good customer base, and its business warrants the number of people it has on staff.
Canadian Helicopters says the purchase will expand its presence into the Asia Pacific region.
The firm earned $38 million (Canadian) last year, and employs 514 staff.
