Babcock sells Oil and Gas aviation unit to CHC Group

The unit, which provides transportation services for crews in the offshore oil and gas sector, employs more than 500 people and operates approximately 30 aircraft.

Transaction close is scheduled for the second quarter of 2021, subject to the "relevant third part conditions".

CHC will seek antitrust clearance from antitrust regulators for the purchase, but those approvals did not preclude completion of the transaction, Cobham said.