two major helicopter companies file Chp 11. I see many on here play it off with cheap shots at the companies or pilots unions and contracts.
I believe there were major decision faults by management of both companies. I also believe more will follow suit as many GOM transport companies are still barely afloat.
The question is WHY?? The oil industry has picked back over a year ago. They are hiring, training and growing again. Yet the helicopter transport industry continues to crumble?
For those of us (thousands) who still feed their families in this industry, what has to change to make it prosperous? Competition between providers is a good thing for offshore drilling and production companies, but bidding with bottom dollar paying contracts and still trying to satisfy shareholders is a recipe for disaster. It has taken many years, but it has shown its ugly face. Meanwhile the boys offshore get better pay, better benefits, better everything! If the Oil companies want to send their boys offshore, than the companies doing it should make damn good profit for their longevity in a downturn, their shareholders, and their employees!
I can tell you pay, along with instability has created no interest for the new younger generation. We are an old industry 40 yrs + average employee age. Not good.
There is change coming to our industry. Good or bad remains to be seen for the long term. Unfortunately my confidence in management doing it the right way is at an all time low. Fly on!