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Old 19th Feb 2020, 16:06
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helicrazi
 
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Originally Posted by Apate
OK I'll make it easier for you to actually quote some text. Here's a link to the transcript. Care to extract where Bethel states that they are exiting O&G altogether?https://www.babcockinternational.com...12.02.2020.pdf
See below, highlighted and underlined.

Robin Speakman - Shore Capital Markets Just to clarify, it sounds very much like from the statement this morning that you are actually pulling out entirely of aviation in the oil and gas market. Is that correct? And further to that, the assets that are utilised in oil and gas, you’ve kind of partly answered this but can you move some of those assets into other areas in aviation? Does that have an impact on next year’s CapEx in aviation and indeed on asset sales as well?

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.

Last edited by helicrazi; 19th Feb 2020 at 16:26.
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