There will have to be “new orders of offshore helicopters” to meet demand growth with “things looking up” in the oil and gas sector.
The market watchdog has said that the takeover of Babcock Aviation by CHC Helicopters would lead to a “significant loss” of competition in the North Sea, as its final decision looms.
Helicopter operator Bristow (NYSE: VTOL) has posted a set of “disappointing financial results” as a combination of issues, including Hurricane Ida, dented profits.
CHC has told competition authorities that its takeover target of Babcock Aviation is “not a particularly serious competitive threat” to the company.
The UK arm of US helicopter giant Bristow has reported a narrowing of annual losses but it continues to rely heavily on goodwill from its parent.
CHC helicopter has been given five days to address “concerns” raised by the competition watchdog over its takeover of rival Babcock before an investigation is escalated.
Bristow has announced a series of contract extensions for helicopter operations with Equinor, Shell and Neptune Energy in Norway.
CHC has beat its incumbent rivals to a newly-formed Taqa helicopter contract in the central North Sea.
Bristow has narrowed its losses substantially in the first full year since emerging from Chapter 11 bankruptcy.
Babcock took a £5.2million hit for “loss-making contracts” for its North Sea helicopter business in the 2020 financial year.
“Rapid growth” is being forecast for the offshore wind helicopter market, with nearly 100 extra aircraft needed by 2030.
Bristow has predicted “challenging conditions” will persist for the offshore oil and gas market for the next year.
Bristow Group has appointed a new chief financial officer after a merger with rival Era and re-emerging from Chapter 11 bankruptcy.
Helicopter operator CHC has warned that “unsustainable” contract pricing could affect training and development after losing a major deal with oil and gas firm Total.
North Sea helicopter operator CHC is poised to lay off more than 20 employees in Aberdeen amid the crude price slump and Covid-19 pandemic.
Helicopter operators Bristow Group and Era have finalised their merger.
A firm that specialises in private jet hire for clients including “entertainment legends, royalty and blue-chip companies” is eyeing a move into the offshore helicopter market.
An MP has demanded answers from the UK Government over the future of post-Brexit safety rules for North Sea helicopters.
Industry chiefs are fighting in Westminster and Capitol Hill to support global helicopter firms that operate in the UK North Sea, warning some “will probably not survive”.
The UK’s crippled offshore helicopter sector faces more financial restructuring, “opportunistic M&A” and possibly even government intervention, according to new analysis.
The UK's oil and gas industry has welcomed the publication of fresh guidance on managing Covid-19 cases offshore.
Babcock warned on profits on Wednesday as its oil and gas business continued to struggle in a "frustrating" quarter.
Helicopter operator Bristow has announced plans to merge with US rival Era, three months after emerging from Chapter 11 bankruptcy.
A preliminary hearing for a fatal accident inquiry into a helicopter crash off Shetland in 2013 is due to begin in January, the Crown Office has confirmed.
Helicopter operator NHV has celebrated delivery of a new aircraft for its Aberdeen base following some key contract wins.