So, this from the quarterly call:
Archi Bethel
I think the well-run route of oil and gas aviation for us is that we don’t intend to invest further, or stay in that market and I think we’ve been steadily over the last four years now decreasing the size of that business. So - and I think as we emphasised, last year in the capital markets theirs is part of adjacent markets, adjacent businesses, we are always looking at what’s the long-term future of that?
In terms of the assets, we don’t - I mean one of the positive things is, we don’t have any at the moment, we don’t have a big issue with excess assets so we’ve done pretty well at getting rid of these as we’ve needed to.
I think on the 225s, we’ve only got the one, so we have reached a - we have redeployed some of these and we’ll continue to look at that as a possibility. The S-92s are a bit different. They’re huge machines, mainly suited to search and rescue. Oil and gas and then search and rescue. We will look at, is there options to deploy these and actually, the writing down of asset - of the lease values helps that process. So we’ll continue to look at - continue to look at those whenever we can.
But I say at the moment, we don’t - we expect them to be in contract. Their written down values, we expect them to be on contracts in Aberdeen.
Okay, well once again, thank you for joining the call this morning. I think overall, the business is in good shape. I think the numbers that we have confirmed in guidance today are pretty much in line with what we said they would be.
We’re being pretty upfront about the continuing issues in oil and gas and I think we have acted very quickly to address that so they should not have an impact - any long-term impact on the business and that’s the most important thing. We’ll update you on all of this at the year end in May so thank you again for joining us this morning.
Ends
5 February Trading Update 2020 Babcock International Group PLC