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Trouble in paradise?
FIFO aviation operator Cobham to raise $941m amid mining slowdown | smh.com.au
A slowdown in the fly-in/fly-out aviation market in Australia has contributed to UK-listed operator Cobham issuing a profit warning and unveiling plans for a surprise £500 million ($941 million) capital raising to avoid breaching debt covenants. |
not surprising, i wonder how the other operators who don't have massive backing e.g. maroomba, skippers etc..
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Is there a slow down in the mining industry?
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Unless I misread it, the capital raising is to support the ongoing operations of Cobham group which is a much bigger entity than the Australian aviation operations.
They are a very big military support organisation - which is why their main interests live with the para military elements within Australia such as surveillance and rescue. The airline and resource side just happened to be there when they bought into the business all those years ago, and I guess that they make money so why throw away a perfectly profitable business. |
Originally Posted by Snakecharma
(Post 9360125)
Unless I misread it, the capital raising is to support the ongoing operations of Cobham group which is a much bigger entity than the Australian aviation operations.
They are a very big military support organisation - which is why their main interests live with the para military elements within Australia such as surveillance and rescue. The airline and resource side just happened to be there when they bought into the business all those years ago, and I guess that they make money so why throw away a perfectly profitable business. I'm quite sure that if Cobham are experiencing a few head winds in the resource sector operations, largely dragged down by underperforming other sections of the Co(outside of CAvS), then other much larger leveraged, less diverse and exposed operators are feeling the pinch more somewhat!! Don't worry about Cobham, they are still in a very sound financial position; Very lean and efficient. If they can't make a quid, then the rest may as well pack up and go home! |
Go on then falconx, tell us how many.
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Go on then falconx, tell us how many. |
Well I do happen to know the answer and it is not even close to "substantial". I'm just curious if falcon is going to pony up with a figure and what that figure will be. That's not to say that the jobs are secure.
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