Surviving the oil slump

[terminus mos]

CHC and Bond are both offering brand new helicopters now not needed by some oil companies at bargain rates, short or long term contracts. Milestone Leasing (now GE) LCI and Waypoint all stuck with soon to be delivered new helicopter inventory looking for customers.

This oil and gas companies that are smart will be taking advantage of the lower rates and drilling for the long term future using lower cost assets and lower cost daily rates. Now is the time to lock in a long term contract deal with providers.

[212_Nightdipper]

Hello folks, I heard from the grapevine that NHS is not doing so well and it is about to shut down all business before the end of the month if they dont find some investors...Shame

[Fareastdriver]

I hope not. I've got an eye appointment next month.

[Same again]

That's just a rumour Fareastdriver. I have it on good authority that NHS will continue to operate until at least after the general election.

[cyclic]

This oil and gas companies that are smart will be taking advantage of the lower rates and drilling for the long term future using lower cost assets and lower cost daily rates. Now is the time to lock in a long term contract deal with providers.

Thanks for the top tip. You mean when there is over supply the price goes down. Hardly Swiss banking is it, or even HSBC for that matter

[Variable Load]

Cyclic, please don't feed the troll

[terminus mos]

Thanks for the top tip. You mean when there is over supply the price goes down. Hardly Swiss banking is it, or even HSBC for that matter

But Cylic you see, some companies look to expand in a down cycle. All around there are lowering rates, spare aircraft and the talk of redundancy. My company has just taken on 2 additional rigs and 3 aircraft which is surely good news.

[Fareastdriver]

As helicopters are a minor part of the transport costs which are a minor part of a drilling project I don't think there is going to be rush for the over supply.
Even in Klondyke periods helicopter contracts are just a beancounter's exercise.

[Ian Corrigible]

More on the majors taking the opportunity to secure good deals in a weak market: Bristow weighs up substantial fleet order

I/C

[nowherespecial]

They (BRS) can have some of CHC's... They have plenty of spare!

[Ian Corrigible]

Despite the earlier optimism from UTC, Sikorsky is now feeling the pinch from the lower oil prices, which are predicted to persist through the end of the decade.

Sikorsky's first-quarter operating profit dropped 11 percent on a 7 percent fall in sales, according to results released on Tuesday. Commercial sales tumbled 26 percent.

The prime culprit? The decline in oil prices. A huge chunk of Sikorsky's nonmilitary business is for oil industry customers shuttling workers and equipment to offshore rigs. Moves by oil companies to cut back on expenses are affecting the helicopter industry.

"We are seeing pressure from the oil and gas segment," Paul Lundstrom, United Tech's vice president of investor relations, told analysts on a conference call.

Lundstrom called the quarter a "slow start" for Sikorsky, but added it was too early in the year for the company to cut financial forecasts.

I/C

[muermel]

Now that I've got the money together for the IR the offshore-industry has tanked, great

I'm looking at doing the FI(H) instead. I'm German, willing to work wherever it takes me.

I've shortlisted 2 schools in Germany (HeliTransair, Heli Aviation), also Helicentre (UK) and Sloane (both were recommended to me) and HeliCentre (NL).

Any hints, recommendations, advice about these schools? Which one is most likely hiring after all the training? Have I forgotten another school?


Thanks in advance for any help

[Hughes500]

well i think it is great at the moment, jet fuel down 20 p per litre so far this year

[EESDL]

Cheapest Jet Fuel in UK is in Yorkshire......

Now all I need to do is find a chopper!

[GoodGrief]

Plenty of choppers for sale in Yorkshire.

[terminus mos]

Bond Australia Cuts

A friend of mine in Australia just sent a text that he and others have been made redundant by Bond Australia. He says Bond Australia has made 20+ Pilots redundant from the S-92 and 225.

Shame for those guys as many left more secure employment to join Bond as a new start up in Australia only 18 months ago so their accumulated redundancy payments will be almost nothing.

[ersa]

Terminus mos,

I have 2 friends working there, have all the pilots been laid off , they come across from CHC, have Bond Lost the contract or just slowed ?

[Evil Twin]

Those 92's have never turned a blade on revenue work. As far as I recall they had an order for another two for delivery 2nd half of 2015.

Tough times as they're a good bunch of guys.

[lowfat]

Bond Aus sounds like the other financial bond disaster.... NHS what a waste that was

[Ian Corrigible]

Helicopter operator Era Group in oil-field squeeze

[Era Helicopters] to cancel or defer almost three-quarters of its existing order book...$127 million of $175 million in capital commitments...including deals with Sikorsky and AgustaWestland.

I/C