MUTXAMELS. Alicante helicopter company Babcock MCS Spainthe old one Inaerpeaking in early March 2023 on the process of selling your business in Spain to funds Partner Ancala. Since then, it has been renamed Avis. So, 2022 is the final year in which Babcock completes the accounts prior to the sale and deposits them in the Mercantile Registry. It should be noted that the fiscal year to which the account refers does not coincide with the calendar year, but ends in March 2022, like the UK parent company. According to these latest figures, This has gone from a loss of almost 30 million euros in 2021 to less than 3 million euros during last year’s implementation. Regarding billing, the company’s annual account includes a 139.6 million euros, almost 2% less
compared to the previous year (142.4 million).

As stated by the company in its management report, the risks and uncertainties faced by the company in the period between March 2021 to March 2022 originate from reduction in services provided. However, they minimize this risk “because the decline in service provision is associated with changes in its organizational structure and positive working capital.”

In the first quarter 2021, the company strengthens its client portfolio while the owner is looking for a buyer for his business in southern Europe. At the time, He parent company England wants interested in acquiring your emergency helicopter business in Spain and Italyafter closing a deal with North America CHC Group to sell you bond flight, which handles the transport of personnel to offshore oil and gas refineries in the UK, Denmark and Australia. And so, Babcock was looking for a buyer for his Spanish business do not consider it profitable.

During the previous financial year, the company’s sole shareholder, viz parent company English, must contribute 48 million euros to rebalance the company’s balance sheet, as the losses of recent years have caused an equity imbalance which, if not resolved, will become a legal cause for the company’s dissolution. In previous years, his contribution was more than 20 million euros. Therefore, the accumulated balance until March 2022 is 68 million euros.

Staff strike

Currently, the Babcock company is completing a handover of a helicopter company with its main base in Mutxamel And retained part of the council in what is now Avicis -after the sale to Mitra Ancala’s fund-. The company is also in progress attack your troopsdemanding better wages and working conditions and it will continue with strikes and protests, at least until May 21st.

Early March, Babcock announced in a statement “the conclusion of its portfolio alignment program with sales of some of its emergency air services businesses to Ancala Partners”. In doing so, the critical infrastructure investment fund acquired Babcock’s emergency air services businesses in Spain but also in Portugal, Italy, Norway, Sweden and Finland. As such, the Avicis company will provide air services for medical emergencies, firefighting and search and rescue.