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Old 5th Aug 2020, 20:46
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June 2020: But speaking on a full-year results call on 11 June, Babcock chief executive Archie Bethel said the “major problem area” in its aviation division “continues to be the offshore oil and gas business”.
“When you combine this with the likely impact of Covid-19, we no longer believe this to be an attractive long-term market for Babcock,” he says.
Bethel had warned in the February trading update that it did “not intend to invest further to stay in that [offshore] market” and said it would not chase the low pricing of its rivals, most of which had shed debts via US Chapter 11 bankruptcy protection.

August 2020: "We are committed to the offshore market "


...and I'll bet undercut CHC to get it.

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