Offshore helicopter sector's rebound
Cruising Heights|February 2025
From near collapse to a sudden boom, the offshore helicopter sector has experienced a dramatic turnaround. After years of struggling with overcapacity, low utilisation and pandemic-related pressures, the industry is now facing a new challenge meeting soaring demand.
- NIDHI SHARMA
Offshore helicopter sector's rebound

India's offshore oil and gas sector plays a vital role in meeting the country's energy needs. As exploration and production activities extend further offshore, the need for reliable, efficient and safe transportation has become paramount. Helicopters serve as lifelines in these operations and with advancements in technology and growing demand, the helicopter industry in India is poised for significant transformation to better support offshore operations. According to the Directorate General of Civil Aviation (DGCA), the Indian offshore helicopter fleet transported over 1 million passengers and 50,000 tonnes of cargo in 2023 alone.

This comes after the turbulence of a few years. Facing contract cancellations and relentless pressure for lower rates from oil companies, helicopter operators and lessors had been pushed to the brink. This downward pressure triggered a crisis within the industry, culminating in Chapter 11 bankruptcy filings by the world’s three largest offshore operators—CHC, PHI, and Bristow—between 2016 and 2019, as they sought to restructure their finances, reduce debt, and downsize their fleets.

Then struck Covid. According to Rystad Energy analysts, the COVID-19 pandemic resulted in a 15 per cent decrease in offshore helicopter passenger traffic, falling from 483 million passenger miles in 2019 to 410 million in 2020.

Even in the early 2022, the outlook was bleak. The sales of new aircraft had plummeted, and leasing companies were scrambling to find alternative uses for idle helicopters. Fast forward to today, and the picture is completely different. A surge in demand from oil companies has created a shortage of helicopters, driving up contract and lease rates for the first time in years. This dramatic reversal, initially sparked by post-pandemic economic recovery, gained significant momentum following the Russian invasion of Ukraine in February 2022.

The change that came about in just one year is remarkable.

この蚘事は Cruising Heights の February 2025 版に掲茉されおいたす。

7 日間の Magzter GOLD 無料トラむアルを開始しお、䜕千もの厳遞されたプレミアム ストヌリヌ、9,000 以䞊の雑誌や新聞にアクセスしおください。

この蚘事は Cruising Heights の February 2025 版に掲茉されおいたす。

7 日間の Magzter GOLD 無料トラむアルを開始しお、䜕千もの厳遞されたプレミアム ストヌリヌ、9,000 以䞊の雑誌や新聞にアクセスしおください。

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