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CHC Australia: merged threads
I have heard on the grape vine the Australian subsidiary of CHC Corp is on the market?
It was reported in the Aust Financial Review earlier this week. Can't find it yet, something to do with an oil and gas article that said the ANZ bank will search for buyers of Lloyd Heli? If true, the slice and dice routine that the american equity company started in Aberdeen is about to go global? Anyone know more :confused: |
I suggest that you wait until after the senate vote on the ETS debate tomorrow afternoon.
A vote forced in collusion between the PM and Leader of the opposition, does that tell you something? After that you may well buy CHC, the whole of Orrrstraylya - with the Sydney Harbour Bridge thrown in, for not much more than the price of a meat pie, Holden Car or Kangaroo. All of which including Skippy (apologies here to Nigel Osborn and Imabell - both ex skippy series pilots) will be valueless as well. Have a nice day, tet. |
If true, the slice and dice routine that the american equity company started in Aberdeen is about to go global? |
CHC is owned by Investment Bankers and the reality, of course, is that every part of the company is for sale and everything will be sold over the next few years. First Reserve have said as much and the only questions are which bits will go first, and when the process will start. I suspect months, rather than years.
It's a big world - start packing. |
First Reserve is in the oil business. You might see CHC refocus there. Anything dead or dying on the vine will get pruned first. So what business you guys in, not offshore oil? You don't want to be in that business if you want to hang with CHC.
MR. ROSE What business is you in, Jack? Just tell me what your business is... MUDDY Just say you're in the *apple* business, man. That's the only business you wanna be in. Just say it. PEACHES (whispers excitedly to Jack) You don't wanna go in the knife business with Mistuh Rose--just say you're in the *apple* business, Jack! JACK (to Mr. Rose) What business are *you* in? MR. ROSE I'm in the *knife* business, Jack. You don't wanna go in the knife business with me. |
Quite correct PPNG.
First Direct will not be the owners of CHC in five years but to infer that they have already started to "slice and dice" in Aberdeen at a time when the workforce are getting over the threat of forced redundencies is misleading and poor timing to say the least. Twenty odd years on the North Sea tells me what goes down will come back up again. IMHO Aberdeen will be the last slice and not the first. And I'll be out in that big world - but only as a visitor:cool: |
What goes down will keep going down. North Sea production peaked in 1999 and has fallen ever since. Declining production, no exploration, I don't think most of you will make it to retirement flying there.
http://gailtheactuary.files.wordpres...north-sea.jpeg You won't be able to afford that villa in Spain as a touring expat, but at least you'll be warm for half the year.;) |
I'm guessing that malabo does not accept the concept of "pound/dollar cost averaging" that is used by most Professional investors (do your own research)
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Malabo, don't be a tw:)t all your life - take a day off.
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Thanks for the update on the still kicking north sea Wizard! Maybe the 50-60 jobs threatened to go from Heli One (CHC) Aberdeen survived the slice? Well done to the negotiators if so:ok:
Although be assured about a dozen jobs with Heli One (CHC) in Aust felt the steel recently.:sad: Or maybe these slices just don't affect the view from your ivory seat:rolleyes: Clear In Live. |
Not wishing to be pedantic but I believe it's First Reserve and not First Direct who own CHC.
As a First Direct account holder I know this.:8 |
RBS Aerospace Limited
Mallesons acted for RBS Aerospace Limited, an Irish based leasing company in structuring and documenting a conditional sale of one CHC helicopter to Lloyd Off-shore Helicopters Pty Limited. The transaction involved a conditional sale/matter head lease structure for the CHC helicopter. Mallesons drafted and negotiated all transaction documentation advising RBS Aerospace Limited on all purchaser owner and lessor issues around the lease and advised on all the Australian tax aspects of the transaction. Lawyers in Sydney (and London) across aviation, banking and finance and tax disciplines combined to advise RBS Aerospace Limited on all aspects of the deal. |
From Mail Online:
For sale sign hovers over helicopter firm CHC's Australian arm By Karl West Last updated at 12:03 AM on 02nd December 2009Helicopter firm CHC has quietly put its Australian search and rescue business up for sale while bidding for an identical £5billion contract to run Britain's coastal rescue business. CHC has appointed ANZ, the Australian and New Zealand bank, to tout the Aussie search and rescue (SAR) business around prospective buyers. ANZ has drafted an information memorandum, seen by the Daily Mail, which has been sent out to a number of international companies. http://i.dailymail.co.uk/i/pix/2009/...42_468x286.jpg The helicopter firm is aiming to land a £5bn deal in the UK It comes as the Ministry of Defence is about to appoint a preferred bidder to run Britain's search and rescue operations for the next 20 to 30 years. The PFI deal is currently down to two consortia - AirKnight and Soteria, which includes CHC, Thales and Royal Bank of Scotland. A defence industry source claimed the MoD would be sure to question why CHC is selling off its SAR business in Australia and what this says about its commitment to the UK contract. The source said the timing of the sale was remarkable, coming just before a preferred operator is to be named. He added: 'It has clearly raised puzzled expressions.' CHC admitted it is currently 'reviewing its non-oil and gas operations in Australia', which includes air ambulance, police and search and rescue. It added: 'CHC is totally committed to the UK SAR contract ... search and rescue is one of CHC's core markets.' CHC was bought by private equity outfit First Reserve in February 2008. First is a big investor in the energy sector and was attracted to CHC principally for its involvement in ferrying oil and gas workers to offshore platforms. The information memorandum says CHC's Australian SAR operation has '22 specialised aircraft, employs 191 staff (including 60 pilots and 33 engineers) and operates from 13 bases across mainland Australia'. It also points out the potential for 'growth opportunities', including further SAR outsourcing contracts, adding: 'These may be available in the medium term and relate to the outsourcing of government and communications operations including both civilian and defence contracts. 'Outsourcing of these contracts is part of a longer-term trend within the industry to move towards specialised operators, replacing government or communityoperated aircraft.' An MoD spokesman said: 'We are conducting a competition for the provision of the future UK search and rescue helicopter capability. Any decision by CHC regarding their business in Australia is a matter for them.' Read more: http://www.dailymail.co.uk/money/article-1232488/For-sale-sign-hovers-CHC-arm.html#ixzz0YVCiNEH5 |
Judging by the picture, it looks as if CHC are planning to sell Bristow?!:ugh:
P1 |
I wouldn't be at all surprised to learn that CHC Australia will become an offshore only operator ;)
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It's NOT for sale...........It's as good as SOLD. A new chapter begins.
No-one is saying when the ANZ were commissioned to find a buyer, just that they were. As we all know these things take time and the sale is in final stages. It will only be weeks before the new shirts are distributed, perhaps just badges because the new owner allegedly, also has blue shirts. :bored: |
Airwork (NZ)?? :}
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My 2 cents worth...... Australian Helicopters. Would be a perfect fit for them and the are owned by a cashed up private equity fund.
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Future of CHC Austrlia
How long can chc Australia survive in the market place, when they are continuing to treat there engineers with contempt, with regard to there EBA. It looks like there managements hardball attitude, with regard to returning to the negotiating table, has been some what undermined this week, by Bristow placing a nice half page add in the Australian paper for Engineers. Funny that! I wonder if there next offer will be competitive with Bristow’s?:E
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Down Under chc
How long can chc Australia survive in the market place, when they are continuing to treat there engineers with contempt, with regard to there EBA. It looks like there managements hardball attitude, with regard to returning to the negotiating table, has been some what undermined this week, by Bristow placing a nice half page add in the Australian paper for Engineers. Funny that! I wonder if there next offer will be competitive with Bristow’s?http://images.ibsrv.net/ibsrv/res/sr...ilies/evil.gif
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Advert
Does somebody have a copy of the Bristow advert in the newspaper please? :ok:
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You can find it here: AFAP Latest Job Ads in Australia and Pacific - Australian Federation of Air Pilots
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CHC
I hear all kinds of mumbling about a new figurehead for the corporation and new leadership for the antipodes!
Anyone? |
antipodes? greek word, means opposite foot, historically refers to a location on the opposite part of the world, found by drilling down through your feet through the center of the planet to the other side.
Hmm, rotor-rooter, where are you, North Sea? So you must be referring to new CHC leadership in NZ (nope, nothing CHC there), or ....Australia? Buy us a warm beer if I'm right. |
I believe RB of Cougar is moving to pastures new for CHC Australia Oil & Gas.
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Aha, that answers one of the questions.
Now, what about President Allard? |
well now that it is official that Rick is coming down to Oz , hopefully he can work some of his "innovative magic" (a la Hibernia) so that CHC increases market share in the offshore side..................
................and I can come home ???? |
Manky
Which old age home are you trying to get into???? |
Nice one ... There's life in the old digger yet!!
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Relocation
The CHC doors are set to close for the last time at number 45, once the chosen ducks are all in a row in Perth.
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cheeky buggar , Nigel....but lovely to hear from you.
Have just turned a "YOUNG" 60 years of age but still have a few tricks that the young fellas cant yet figure out. Presently in Brunei on a lovely old A++. A trip a day to a rig at 33 nm. Suits me down to the ground. Sure as hell dont need no more hours. Talking of which. What is your tally now ? Are you still flying ? Not a silly question. Walter Ramsey is still flying and as best as I remember he is now 73 !!!!!!!!!! |
As suggested in May 2010, the ducks are now all in a row and the surplus have been identified. The Canidiots have struck again. What a sad sad time. Here's hoping all those affected can utilise their skills for a more appreciative competitor and reinforce to the Canidiots their absolute lack of understanding of the Australian industry.
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Pilot or Engineers????
So who is being set aside...pilots, engineers or both??? Thought CHC just landed the Woodside contract???
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I think Nonac is refering to the closing of Adelaide head office and the opening of the new office in Perth. Which is closer to most oil company offices.
Is just the changing of the times and you learn to go with it or get left behind. I don´t imagine it will effect to many pilots or engineers mostly office staff. Some sad ones in Adelaide and new happy ones in Perth. |
Perhaps a stipulation of Woodside?
Certainly the new man, RB, has no allegaince to Adelaide and it is a good chance to do a management spring clean. |
Ducks are Dropping
Well, the Canidiot's seem to have side-by-side shot gun's and blasting away on the Adl HO.
CHC Australia?? Won't last too much longer as The Spitting Cat takes it over as CHC Global. |
Rumours Abound
I heard no flight standards or Chief going.:eek:
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In all the time I have been involved in aviation, I have never seen such a drastic change to an Australian aviation company’s structure. Change is necessary from time to time, to ensure that a business group remains competitive within a competitive market place. Although the changes that have come to light in the last week, out of Adelaide, have definitely come as a massive shock to the group. A lot of very experienced and knowledgeable people have been lost from the group and will be a great loss to the legacy’s left by Guy Lloyd and Craig Dobbin. There are however, some changes that have been made that will hopefully allow the company to move forward, and allow it to return to a competitive entity. The entity however, will no longer be a Lloyd or CHC Company, it will be a company name for a new aviation company in Australia run by Canadians and powered by the same strong Australian engine. I’m sure by mid next year, we will see if the changes made last week have started to work. To all that have been affected by the restructure, I wish you all the success for the future.
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Weedwacker did you mean run by Americans? CHC has been managed by Americans since First Reserve bought the company.
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