Pumping in Oz eh? I heard they are loosing $7m a year offshore as a result of bidding all their current contracts below cost (and hence the departure of Mr Boag).
Dingo is right, if a sector is not making in the Babcock empire, it will be sold off.
There needs to be some consolidation in the market with Babcock, Bristow, CHC, NHV, ERA, PHI and Heli-Union competing for the same pie.