PPRuNe Forums - View Single Post - Babcock Offshore to exit market??
View Single Post
Old 18th Mar 2020, 23:51
  #28 (permalink)  
industry insider
Join Date: Sep 2006
Location: Inside the Industry
Posts: 807
No. Most 2/5/10 year contracts have a 90 day termination clause.So, in effect, the operators have 3 months worth of actual security.
Correct, in the last few race to the bottom years, I have seen helicopter companies accept “termination for convenience” clauses with as little as 14 days notice. No wonder no one can finance the purchase of new aircraft now, banks won’t touch offshore helicopters, even pre virus.
industry insider is offline