So Apache havent given Bristow notice of termination? :oh:

I was referring to the loss making side of it

As said quite some while ago - Oil & Gas is far too volatile an industry for Babcock. When crises happen, the oil industry generally plummets and AA, SAR, Police and MOD assets are at least stable and often fully supported in their ops.

and with good margins, a steady supply of government money, not overly onerous contract monitoring and when money gets a bit tight, the option to simply ask for more.

Never said I was briefed on that stuff or that they are making a loss but what I did learn out of Babcock last financial briefing is that they declared a £5.2m impairment for loss-making contracts. Bet they aren't the only company that have loss-making contracts on their books but might be wrong on that.

So, presumably, these
European Search and Rescue (SAR) Competition Bonanza: Northern Norway SAR, Netherlands SARHC, Ireland SAR Aviation and UK's UKSAR2G - Aerossurance
remain the domain of Babcock Public Sector Parasite plc?

It’s NOT the full picture to say Bristow just lost Apache on cost. There were other factors .... ... apparently.

As someone else pointed out CHC have taken the opportunity to outsource and cut costs. Just before covid came along Bristow were about to be forensically taken apart by ‘streamlining specialists’ from the US. That’s not a rumour, it was stated by senior managers at events this time last year. Needless to say I hear this is yet to happen.

This is the third big contract in a row that has not been renewed and that should have alarm bells ringing in Houston. Repsol are still pontificating and have been for months presumably after this news they will think it strengthens their hand for a further reduction on renewal.

The new CEO basically lost a whole year while others were making themselves more competitive.

Anyone dealing with Bristow from the exterior who are used to the current O&G trends for ‘synergising’ can’t help but wonder how bloated some parts of the business are and how antiquated some of the processes the outside world sees seem. No point blaming the BD guys if what they are selling is a quarter more expensive than anyone else because their costs are higher.

Fingers crossed that job losses from all 3 operators can be kept to a minimum.

Will CHC get the Babcock "Onshore" windfarm work out of Barrow in Furness and the Kinsale Gas Field work out of Cork ? Currently utilising EC135s ?????

Is there any connection with the timing of the AerCap/GECAS deal and the CHC/Babcock deal with the Milestone involvement with all these companies? Is this all the consolidation left in the marketplace, or are there more stragglers out there?

Babcock Onshore is unaffected so no change there. Kinsale is moving to decommissioning so not long left for that anyway.

Does TUPE apply when you buy a company?

CHC taking over Apache was confirmed to staff by Bristow management on Tuesday night. CHC take over on 8 July with rumoured two S-92s. Apache evidently played the 120-day termination of contract game as CHC were cheaper.

Yes, it should. It applies to change of ownership or change of service provider.

Transfer outside the UK, isnt it CHC LLC buying it?

TUPE seems to apply when they want it to apply, seems like a dark art...

No denying that!

Exactly. It seems to be down to one side or the other deciding whether to contest it or not, and paying the associated costs.

A full takeover of one business by another is one of the clearest applications of TUPE. It is at the pure core of TUPE. I would be totally shocked if TUPE didn't come into play here.

Not True. The deal with CHC includes Oil & Gas SAR.

Indeed....

I think Babcock Australia will also include the H175s they have operating up in the Timor Sea.