Story ID: 124NHVBluewayAINOct14EditedByAY_NM.doc
NHV, Blueway To Merge Helo Operations
By: Thierry Dubois
Caption: Newly formed European-based is targeting the heart of the North Sea market.
Word Count: 432
Ostend, Belgium-based helicopter operator NHV is to take over Norway’s Blueway, the two firms announced in late August. The new company, which has not yet indicated whether it will adopt a new name–has set its sights on establishing itself as a major player in the offshore oil-and-gas market.

“Our goal is to reach a critical size to compete with big players in the North Sea, such as Bristow and CHC,” NHV CEO Eric Van Hal told AIN. To that end it is establishing a base at Aberdeen, the largest helicopter hub in the UK North Sea market. “We do not have a contract yet for operations from Aberdeen, but it is a chicken-and-egg issue,” Van Hal explained. The company plans to have the base ready by the middle of next year.

“There is room for a fourth operator in Aberdeen, especially as we will help renewing an aging fleet,” Van Hal emphasized. He believes the introduction of the Airbus Helicopters EC175 can play a major role. NHV is the launch customer and at press time expected its first delivery in the coming weeks. In addition to 16 EC175s between this year and 2017, the two companies have two AgustaWestland AW139s set for delivery in 2015-2016. One more EC225 was scheduled to be handed over last month.

Both companies have a strategic presence in the North Sea–in Norway and Denmark so far–and West Africa with a focus on the offshore industry and a shared customer base, company officials said. They also have been sharing hangars in Norwich, UK, and Den Helder, the Netherlands. In addition to oil and gas, activities include EMS, search-and-rescue, offshore wind farms, power grid construction and harbor pilot services.

Blueway is known under several brands: Blueway Offshore Norge, DanCopter, Vertech Offshore and Airlift. The two companies’ combined fleet–totaling 59 helicopters–consists of nine types, ranging from the Airbus Helicopters AS350 light single to the EC225 and AgustaWestland AW139 medium twins. “Our fleets were quite complementary,” said Van Hal.

NHV and Blueway will be two separate operators owned by a holding company, Van Hal explained. He added that his team has started working on integration, including the harmonization of pilot training.

NHV will buy those Blueway stakes owned by Reiten & Co Capital Partners and Helicopter Transportation Group, thus acquiring 100 percent of Blueway. The proposed transaction hinges on required regulatory approvals–notably those from the civil aviation authorities of Denmark and Norway–and other customary closing requirements, according to the two companies.