The oil & gas companies led this debacle, not the helicopter companies. They should be hung drawn and quartered to pay for their bullish, arrogant and frankly disgusting behaviour. The management of the helicopter companies always appear to be hammered on here. Honestly, if you knew about the behaviours on show even now you would be shocked. I’m giving up soon as I honestly can’t stomach working in such a twisted rotten to the core business which ruins good people just trying to keep something afloat. I’m sickened by it all.
Originally Posted by
industry insider
PPI Zulu wrote
Interesting, where did you get the $30m loss figure? I think it may be more. But with a relatively small number of helicopters in the oil and gas division of Babcock, just thinning out HQ functions will never deliver the kind of savings CHC will need to make. We know there has been a race to the contractual bottom by the helicopter operators, right now most are making operating losses, clearly evident by the published financials we can see.
There is little prospect of a turnaround until current contracts are re tendered at realistic prices, which is itself a challenge, maybe the industry consolidation will inject some financial realism into the helicopter operating business. The first job is for the helicopter operators to counter the oil and gas company expectation that every tender leads to a price reduction.
Any marketing and commercial department can win a cheap job, its been an easy life for the marketing and commercial teams for the last 10 years or so. The helicopter operator marketing and commercial teams are going to have to learn a new skill set to re define oil company expectations, raise prices back to where they need to be so the helicopter business can make a return.