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CHC LLC purchases Babcock

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CHC LLC purchases Babcock

Old 25th Feb 2021, 15:47
  #21 (permalink)  
 
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I can only speculate from the ‘client’ side of things but having asked both there appears to be nothing in this at all at this time.

The 3 main ‘legacy’ NS operators meet more often at high level that us plebs would be aware of and as they all talk constantly about consolidating its inevitable that rumour and speculation will abound.....no doubt that all 3 have probably sounded one another out. CHC and Bristow did, that’s common knowledge....

.... however an interesting snippet did reach my ear from a normally impeccable source that a large current NS contract up for renewal was potentially being awarded on a split basis between the two aforementioned in this thread and indeed inferred it could be viewed as a JV which would obviously lead to a bit of 2+2. I’ve heard nothing confirmed tho and for the avoidance of doubt, this is a rumour network!!
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Old 25th Feb 2021, 16:06
  #22 (permalink)  
 
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Originally Posted by LesPretend View Post
I can only speculate from the ‘client’ side of things but having asked both there appears to be nothing in this at all at this time.

The 3 main ‘legacy’ NS operators meet more often at high level that us plebs would be aware of and as they all talk constantly about consolidating its inevitable that rumour and speculation will abound.....no doubt that all 3 have probably sounded one another out. CHC and Bristow did, that’s common knowledge....

.... however an interesting snippet did reach my ear from a normally impeccable source that a large current NS contract up for renewal was potentially being awarded on a split basis between the two aforementioned in this thread and indeed inferred it could be viewed as a JV which would obviously lead to a bit of 2+2. I’ve heard nothing confirmed tho and for the avoidance of doubt, this is a rumour network!!
It was only last year that Mark Abbey had said that Babcock had took the market to rock bottom by significantly undercutting CHC for the TOTAL contract. He also mentioned that TOTAL had cut that much from their existing contract that CHC were making next to nothing on it. Babcock also undercut NHV for the work too.

It was then summarised that Babcock are likely to make significant losses on the contract due to how cheap their bid was but they did so just to get some work. There was a sense of relief that the contract had gone to Babcock as at the prices quoted and won at, CHC would lose millions on the work.

Mark Abbey knows all this as it was communicated in town halls to staff. Not sure why he would then jump into bed with Babcock with such a poor business model that will likely cripple them in losses. This is all public knowledge, Mark Abbey was quoted in the press at his astonishment that the work had switched to Babcock.

No murmurs on the ground here at all in Aberdeen from anyone within either of the companies either. Think this one probably needs to go to the scrapheap.

Last edited by Mitchaa; 25th Feb 2021 at 17:11.
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Old 25th Feb 2021, 17:13
  #23 (permalink)  
 
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Originally Posted by LesPretend View Post
I can only speculate from the ‘client’ side of things but having asked both there appears to be nothing in this at all at this time.

The 3 main ‘legacy’ NS operators meet more often at high level that us plebs would be aware of and as they all talk constantly about consolidating its inevitable that rumour and speculation will abound.....no doubt that all 3 have probably sounded one another out. CHC and Bristow did, that’s common knowledge....

.... however an interesting snippet did reach my ear from a normally impeccable source that a large current NS contract up for renewal was potentially being awarded on a split basis between the two aforementioned in this thread and indeed inferred it could be viewed as a JV which would obviously lead to a bit of 2+2. I’ve heard nothing confirmed tho and for the avoidance of doubt, this is a rumour network!!
I heard the same, but the split was between one of these companies and another one not mentioned...
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Old 27th Feb 2021, 13:07
  #24 (permalink)  
 
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I don’t think this is on the scrap heap. Interesting to see if there are any announcements in the coming weeks. Obviously the top of the heap now knows the rumour mill has picked up on the story.
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Old 27th Feb 2021, 17:43
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Originally Posted by Medevac999 View Post
I don’t think this is on the scrap heap. Interesting to see if there are any announcements in the coming weeks. Obviously the top of the heap now knows the rumour mill has picked up on the story.
There have been questions raised locally in both companies. Both are saying there is nothing in the rumour, but that shouldn't come as a surprise. These kind of business deals are done at the highest levels in organisations, with local management deliberately kept in the dark.

It still seems improbably, but not impossible,
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Old 2nd Mar 2021, 16:01
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I’m told the announcement of the Repsol contract renewal is this coming Friday (although it’s been put back at least once that I know of)

While it might not shed much light on the original rumour, some folks I’ve spoken to recently seem to think it will have major implications for potential consolidation over the next year if it goes the way it’s being rumoured.
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Old 2nd Mar 2021, 20:28
  #27 (permalink)  
 
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The announcement of Repsol will have zero impact on Babcock. I'm not sure what that does with regard to the rumour though
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Old 2nd Mar 2021, 20:38
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Originally Posted by Variable Load View Post
The announcement of Repsol will have zero impact on Babcock. I'm not sure what that does with regard to the rumour though
They cant cope with the contracts they already have
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Old 2nd Mar 2021, 22:06
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Yeah, Babcock in 2021 have managed to drag themselves down to the low bar set by CHC.
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Old 4th Mar 2021, 10:06
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Originally Posted by KiwiNedNZ View Post
Heard from couple of reliable sources that Babock have purchased CHC in the UK. Nothing official out there though,
Any update from your sources Ned?
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Old 4th Mar 2021, 17:27
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There's another contract in the SNS that's up for renewal soon as well. Plenty of rumours and conjecture flying about over that one as to who will keep/lose/gain it
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Old 4th Mar 2021, 21:30
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How are the mighty fallen

Ten years ago Bristow Aberdeen were flying a minimum of 65 flights a day; sometimes up to 75.

Today there were 13; tomorrow 17, being Friday.
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Old 4th Mar 2021, 23:11
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Originally Posted by Fareastdriver View Post
How are the mighty fallen

Ten years ago Bristow Aberdeen were flying a minimum of 65 flights a day; sometimes up to 75.

Today there were 13; tomorrow 17, being Friday.
In Australia:
None today. None tomorrow.
Their hanger in Karratha is looking very unloved....
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Old 4th Mar 2021, 23:19
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Originally Posted by Medevac999 View Post
Any update from your sources Ned?
Yes, nothing more than 2+2= 5 along with Chinese whispers. The rumour is 2 weeks old now and not even a murmur on the ground other than people who think they know that are clearly not in the know.

How would Ned know? With all due respect, he is a magazine publisher based in NZ, why would he know the ins and outs of the U.K. market? Perhaps one of the very top in the consortium phoned him so he can broadcast it publicly yet no one on the ground in Aberdeen knows anything about it?
To be fair, he should have been a lot more careful with what appears to be baseless rumours as there are hundreds of employees that could potentially be affected by this “rumour”.

There is still nothing on the ground to this rumour, nothing in the press, nothing in the stock markets where you would expect a jump
to occur after a takeover. Fair enough, Babcock (group) are a lot bigger than the offshore market but I would still expect to see a significant jump in the shares. Truth is, they are trading lower now than they were just 2 months ago.

This needs to go to the scrap heap and the people starting these rumours held to account or their reputations tarnished anyway. (Given the amount of people that may or may not be affected)

Add to that the nonsensical nature of Babcock purchasing just the U.K. element of CHC (Like the main CHC group would ever allow that and Mark having the power to do that given he is just a puppet himself within the CHC matrix above him)

Further to that again, CHC Scotia is a subsidiary of Netherlands based EEA Helicopters Operations BV, which in turn is a division of Canadian-based CHC Helicopter. The very very complicated structure come up during the Ch11 proceedings, CHC Scotia is not the UK entity that many think.

Again, further to that still, As we all know, the CHC group are protected somewhat by having the American legal system protection. This was invaluable just a few years ago and without it the UK element may well have collapsed and gone into UK administration where that can be fatal. Protection from the American courts is
invaluable, there is no such scheme here in the UK or Europe.

Add onto that again, the Babcock statements from last year about getting out of the offshore industry and Babcock bidding for work where they will make 7 figure losses according to 1 CEO, it just appears to be utter nonsense.

Let’s not forget the rumours a couple of years ago too where CHC and Bristows were merging.

Originally Posted by Fareastdriver View Post
How are the mighty fallen

Ten years ago Bristow Aberdeen were flying a minimum of 65 flights a day; sometimes up to 75.

Today there were 13; tomorrow 17, being Friday.
Pointless comparison during Covid where only core crew staff are manning platforms. Once Covid is over and restrictions lifted over the next 6 months, production and exploration will ramp up as will flights.

Originally Posted by Twist & Shout View Post
In Australia:
None today. None tomorrow.
Their hanger in Karratha is looking very unloved....
139 and 189 flying as normal within CHC Karratha today I see.



Last edited by Mitchaa; 5th Mar 2021 at 00:20.
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Old 5th Mar 2021, 03:29
  #35 (permalink)  
 
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Quote:
Originally Posted by Twist & Shout View Post
In Australia:
None today. None tomorrow.
Their hanger in Karratha is looking very unloved....
139 and 189 flying as normal within CHC Karratha today I see.


I think he may have been referring to the Bristow Ivory Tower Hangar in Karratha.
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Old 5th Mar 2021, 05:01
  #36 (permalink)  
 
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Originally Posted by Evil Twin View Post
Quote:
Originally Posted by Twist & Shout View Post
In Australia:
None today. None tomorrow.
Their hanger in Karratha is looking very unloved....
139 and 189 flying as normal within CHC Karratha today I see.


I think he may have been referring to the Bristow Ivory Tower Hangar in Karratha.
Correct.
A reference to the “Bristow in Aberdeen” update.

CHC are doing their best to follow, but are still running at this stage.
I hear from those with the relevant experience, that CHC management seem to be mirroring Bristow's management while in their death throws.
Sad.
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Old 5th Mar 2021, 06:06
  #37 (permalink)  
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Mitchaa - Couldnt really care what you think about me or who I do or don't know. Yes I am "only" a magazine publisher - but you know what I have been in this industry for about 30 years and in that time got to know a LOT of people in this industry - even over there in the UK. The world isn't really THAT small mate. And who said I know all the Ins and outs of the UK market - that has nothing to do with what I was told.

"To be fair, he should have been a lot more careful with what appears to be baseless rumours as there are hundreds of employees that could potentially be affected by this “rumour”." - Hmmm let me see - this place is called PPRuNe - notice the R in the word. My post is not the only rumour that's been posted here and not the only rumour that will be proven right or wrong. Don't like it - that's not my problem. Feel free to have a shot at every other person who posts a rumour here because every one of them effects someone somewhere according to your logic. What are these guys going to do - quit their job and go and find another one based on a rumour - sorry dont think so.

I am posting something I was told - it is what it is. I know and trust the people who have told me this and the are batting four for four on rumours they have filled me in on. You and others don't believe it - hey that's all cool - that's your and their choices. And how someone is affected by a "rumour" makes me laugh - mate its a RUMOUR. If and when its made a FACT then anyone involved in either company can do what they need to.

Have a great day and I stick by what I was told.
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Old 5th Mar 2021, 07:41
  #38 (permalink)  
 
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Thanks Ned for the reply

Last edited by Medevac999; 5th Mar 2021 at 08:47.
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Old 5th Mar 2021, 09:44
  #39 (permalink)  
 
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Originally Posted by Fareastdriver View Post
How are the mighty fallen

Ten years ago Bristow Aberdeen were flying a minimum of 65 flights a day; sometimes up to 75.

Today there were 13; tomorrow 17, being Friday.

Yet I bet their management still think they should be “#proudtobebristow.....’ Mind blowing.
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Old 6th Mar 2021, 01:23
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Originally Posted by KiwiNedNZ View Post
Mitchaa - Couldnt really care what you think about me or who I do or don't know. Yes I am "only" a magazine publisher - but you know what I have been in this industry for about 30 years and in that time got to know a LOT of people in this industry - even over there in the UK. The world isn't really THAT small mate. And who said I know all the Ins and outs of the UK market - that has nothing to do with what I was told.

"To be fair, he should have been a lot more careful with what appears to be baseless rumours as there are hundreds of employees that could potentially be affected by this “rumour”." - Hmmm let me see - this place is called PPRuNe - notice the R in the word. My post is not the only rumour that's been posted here and not the only rumour that will be proven right or wrong. Don't like it - that's not my problem. Feel free to have a shot at every other person who posts a rumour here because every one of them effects someone somewhere according to your logic. What are these guys going to do - quit their job and go and find another one based on a rumour - sorry dont think so.

I am posting something I was told - it is what it is. I know and trust the people who have told me this and the are batting four for four on rumours they have filled me in on. You and others don't believe it - hey that's all cool - that's your and their choices. And how someone is affected by a "rumour" makes me laugh - mate its a RUMOUR. If and when its made a FACT then anyone involved in either company can do what they need to.

Have a great day and I stick by what I was told.
Reminds me of this video;

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