Go Back  PPRuNe Forums > Aircrew Forums > Rotorheads
Reload this Page >

CHC LLC purchases Babcock

Rotorheads A haven for helicopter professionals to discuss the things that affect them

CHC LLC purchases Babcock

Old 7th Mar 2021, 05:38
  #41 (permalink)  
SNI
 
Join Date: Apr 2012
Location: Home
Posts: 55
Likes: 0
Received 0 Likes on 0 Posts
Here's your answer

https://www.thisworldthesedays.com/c...k-merger1.html
SNI is offline  
Old 7th Mar 2021, 10:19
  #42 (permalink)  
 
Join Date: Aug 2008
Location: Canada
Posts: 149
Received 2 Likes on 2 Posts
Originally Posted by SNI
Here's your answer
You dirty dog.
Zombywoof is offline  
Old 7th Mar 2021, 12:43
  #43 (permalink)  
 
Join Date: Mar 2019
Location: UK
Posts: 16
Likes: 0
Received 0 Likes on 0 Posts
Wonder if any Dutch consortium involves any of the ex Schreiner influence , didn't Schreiner become CHC Netherlands ?
dustycraphopper is offline  
Old 7th Mar 2021, 16:20
  #44 (permalink)  
SNI
 
Join Date: Apr 2012
Location: Home
Posts: 55
Likes: 0
Received 0 Likes on 0 Posts
I highly doubt that Babcock as a whole, who's in financial dire straits themselves, has the cash or interest to buy another company that also isn't making any money (so they say):

https://www.thetimes.co.uk/article/b...lays-hsvnd2c0t

SNI is offline  
Old 7th Mar 2021, 17:54
  #45 (permalink)  
 
Join Date: Mar 2021
Location: UK
Posts: 4
Likes: 0
Received 0 Likes on 0 Posts
EAA Helicopter group (parent of CHC HS, HN, Scotia and IRE) is no longer dutch owned. The old dutch owner, the brenninkmeijer family, sold their shares some time ago to Ivan Levy. Google him.

EAA is 51% (or majority) owned by him and the rest by 'CHC'. The reason these 4 AOC's did not go into chapter 11 back in the day.
helitr is offline  
Old 7th Mar 2021, 22:11
  #46 (permalink)  
 
Join Date: Jan 2021
Location: The Ghetto
Posts: 4
Likes: 0
Received 0 Likes on 0 Posts
Ned you need to check the reliability of your reliable sources ;-)
Blesshuey is offline  
Old 8th Mar 2021, 04:37
  #47 (permalink)  
Thread Starter
 
Join Date: Jul 2013
Location: Auckland, New Zealand
Posts: 793
Received 190 Likes on 56 Posts
Yeah Nah - Spoke to them again the other day as well as a couple of others and I stick by what I said. Lets see how it plays out.
KiwiNedNZ is offline  
Old 8th Mar 2021, 04:42
  #48 (permalink)  
 
Join Date: Nov 2009
Location: Inverness-shire, Ross-shire
Posts: 1,400
Received 1 Like on 1 Post
gov.uk

CHC SCOTIA LIMITED
Company number 00936569
1 active person with significant control / 0 active statements

Mr. Ivan Clive Levy - ACTIVE
Correspondence address: Lnselhofstrasse, 3, 8008, Zurich, Switzerland
Notified on: 15 December 2017
Date of birth: April 1957
Nationality: Swiss
Nature of control: Ownership of shares – More than 50% but less than 75%
==========================

https://www.linkedin.com/in/keepitsi...alSubdomain=ch
jimf671 is offline  
Old 8th Mar 2021, 12:35
  #49 (permalink)  
 
Join Date: Nov 2004
Location: Africa
Posts: 46
Likes: 0
Received 0 Likes on 0 Posts
Babcock took a £5.2million hit for “loss-making contracts” for its North Sea helicopter business in the 2020 financial year.

The sum was disclosed in accounts for Babcock Mission Critical Services Offshore, its dedicated subsidiary for helicopter operations in the UK oil industry.

That business, which has bases in Aberdeen, Blackpool and Sumburgh, saw pre-tax losses surge to £21.8million for the 12 months ending March 31, 2020, more than seven-times the previous year’s deficit of £2.8m.

Underlying operating losses were £6million, compared to profits of £5.7m in 2019, while revenues dropped 23% from £133.7m to £102m.

Ian Cooke, director of Babcock MCS Offshore, said the company’s core business faced “continued commercial pressures with reduced activity, despite a stabilised oil price”.

The loss-making contract impairments come as rivals have accused Babcock of bidding for contracts below breakeven price, termed a “race to the bottom”.

Babcock said the £5.2m impairment “was recognised for loss-making contracts where unavoidable costs of meeting the obligations under these contracts exceeded the associated expected future net benefits”.

Babcock MCS Offshore has dropped its headcount from 432 in 2019 to 363 in 2020.

The business did not comment on whether contract losses in 2019, with BP, Perenco and Spirit Energy, were associated with the reduction.

The drop in revenues, meanwhile, was due to reduced activity and the loss of a major contract, it said.

Mr Cooke said: “There has still been a continuing need for companies operating in the UK oil and gas market to lower operating costs while maintaining service delivery and ensuring the highest level of safety within the industry for its customers and passengers”.

Nevertheless, the firm said it is “confident about future trading prospects”, pointing to “two major contract wins” post-year end of 2020.

Babcock won separate five-year deals with Total in the UK and Denmark in August, which will also see it open a new base in the latter country.

Mr Cook added: “The business remains optimistic on the future and there remains significant long and short-term opportunities both at a tactical and strategic level.”

Last month Steffen Bay, CEO of rival firm NHV said he hoped the recent oil price resurgence would help the beleaguered helicopter market to a “more sustainable situation“.
Banzai-blades is offline  
Old 9th Mar 2021, 19:59
  #50 (permalink)  
 
Join Date: Oct 1999
Location: Den Haag/Constanta
Age: 56
Posts: 5,755
Received 137 Likes on 78 Posts
Originally Posted by KiwiNedNZ
Heard from couple of reliable sources that Babock have purchased CHC in the UK. Nothing official out there though,
are you sure itís not meant to be the other way round?
212man is offline  
Old 10th Mar 2021, 08:43
  #51 (permalink)  
SNI
 
Join Date: Apr 2012
Location: Home
Posts: 55
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by 212man
are you sure itís not meant to be the other way round?
Seems so... Apparently Total CEO was on one of their rigs and told everyone CHC has bought Babcock....

SNI is offline  
Old 10th Mar 2021, 08:56
  #52 (permalink)  
 
Join Date: Dec 2007
Location: UK
Posts: 483
Received 11 Likes on 7 Posts
Originally Posted by SNI
Seems so... Apparently Total CEO was on one of their rigs and told everyone CHC has bought Babcock....
Given Babcocks current financial issues as a group, rights issues and accounting investigations initiated by the new chief, analysts are giving the stock a 'steer clear' for now, their share price is back at 2006 pricing and down 2% today as I write this... maybe chc have bought the entire group
helicrazi is offline  
Old 10th Mar 2021, 11:36
  #53 (permalink)  
 
Join Date: Feb 2018
Location: UK
Posts: 88
Received 1 Like on 1 Post
Originally Posted by SNI
Seems so... Apparently Total CEO was on one of their rigs and told everyone CHC has bought Babcock....
Well thats a change of direction!
Medevac999 is offline  
Old 10th Mar 2021, 12:01
  #54 (permalink)  
 
Join Date: Mar 2019
Location: UK
Posts: 16
Likes: 0
Received 0 Likes on 0 Posts
Didn't Babcock only buy the original Avincis/Bond set up for the Air Ambulance element and end up with Oil and Gas division ?

CHC entering into the UK 135/145 air ambulance market ??
dustycraphopper is offline  
Old 10th Mar 2021, 22:16
  #55 (permalink)  
 
Join Date: Jan 2008
Location: Dark side of the moan
Posts: 87
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by SNI
Seems so... Apparently Total CEO was on one of their rigs and told everyone CHC has bought Babcock....
He was probably recounting a PPRuNe thread he read and just remembered it incorrectly like most people do when they are spinning a second/third/fourth* (*delete as applicable) hand dit.

Total bllcks...just like the original post.
PPI Zulu is offline  
Old 11th Mar 2021, 05:58
  #56 (permalink)  
Thread Starter
 
Join Date: Jul 2013
Location: Auckland, New Zealand
Posts: 793
Received 190 Likes on 56 Posts
Total bllcks...just like the original post.
Its not like I really give a shite what you think
KiwiNedNZ is offline  
Old 11th Mar 2021, 06:04
  #57 (permalink)  
Thread Starter
 
Join Date: Jul 2013
Location: Auckland, New Zealand
Posts: 793
Received 190 Likes on 56 Posts
Just had some updated intel and seems its more along the lines of CHC buying Babcock - not the other way around - My Bad.

Maybe the Telephone call in that is happening tonight with the Babcock crews might shed some more light on it.
KiwiNedNZ is offline  
Old 11th Mar 2021, 07:03
  #58 (permalink)  
 
Join Date: Mar 2021
Location: Aberdeen
Posts: 3
Likes: 0
Received 0 Likes on 0 Posts
otherway around shipmate.
rotorfish72 is offline  
Old 11th Mar 2021, 07:06
  #59 (permalink)  
 
Join Date: Sep 2006
Location: Inside the Industry
Posts: 876
Received 0 Likes on 0 Posts
seems its more along the lines of CHC buying Babcock
Wow, its going to need a huge debt to finance that kind of deal.

All will be revealed very soon it seems.
industry insider is offline  
Old 11th Mar 2021, 07:48
  #60 (permalink)  
 
Join Date: Dec 2007
Location: UK
Posts: 483
Received 11 Likes on 7 Posts
Originally Posted by industry insider
Wow, its going to need a huge debt to finance that kind of deal.

All will be revealed very soon it seems.
What exactly has the value? Profitable contracts? Owned aircraft? Assets? I guess they would be buying the debt and getting rid of a competitor...

They would however get back the Total work they just lost...
helicrazi is offline  

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell or Share My Personal Information

Copyright © 2023 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.