Caverton Helicopters Says Company Remains Safe, Financially Stable

Chinedu Eze

Caverton Helicopters  has said that it is safe and financially stable and has continued to carry out its operations without hindrance.

The company was reacting to reports indicating that it was facing financial challenges and losing its key personnel.

The airline in a statement said though it was not in its character to blow its own trumpets, but noted, “We make bold to say that Caverton Helicopters’ commitment to safety in all facets of its operations is impeccable and unimpeachable.”

The company said it remainsed financially stable despite the lingering impact of COVID-19 on the national and global operating environment.

The airline also debunked reports that the chairman of the company was a politician or a politically exposed person.

On why some pilots left the company for another, it said the country and the industry operate a free-market economy whose cardinal principle was free entry and exit, including of labour, adding that it was within the constitutionally guaranteed rights of those who left the company to do so, as it is within the rights of others to come on board.

”As a matter of fact, the experienced hires by Caverton always come from other companies too, both within and outside the country. Creating a sensation out of some staff leaving one organisation for another organisation amounts to making a mountain out of a molehill. The relevant point is that Caverton always has the required number of well-trained, type-rated, and professional crew (pilots and engineers) from virtually all continents of the globe to meet the complex needs of its premium clients,” it said.

The company attributed the suspension of flights with one of its clients to the audit being carried out on it.

”It is also worth stating that regular audit review is not alien in a highly regulated sector like the oil and gas industry. The suspension of flights with one of our esteemed clients is to ensure such a review. It is a partial contract with the company. We are positive that we will return to normal operations once the audit is concluded.

”It is not deniable that the global pandemic negatively impacted the operations of countries and companies in the last two years. The oil and gas sector, Caverton Helicopters’ primary market, was particularly hit due to low demand occasioned by lockdowns across the globe. This affected the company’s operations as clients reduced flights, dropped contracted aircraft, and reduced rates. But despite this, the company always met its obligations to its staff and suppliers. As the world returns to normalcy, the negative impact of the pandemic is wearing off, and our business outlook is more positive than before, reinforced by our strategic decision to diversify our revenue streams.

”To underscore our commitment to safety, capacity building and financial buoyancy, Caverton has built a 40,000 sqm training and Maintenance, Repair, and Overhaul facility. With spare parts from original equipment manufacturers, operating within an export free zone, and fitted with an EU regulator certified flight simulator, the facility is the first of its kind not just in Nigeria but in Africa,” the company added.

Caverton Helicopters Limited is a subsidiary of Caverton Offshore Support Group Plc, a company that is quoted on the Nigeria Stock Exchange.

“We are therefore subject to well regulated and high ethical corporate governance standards on a continuous basis. We remain unwavering in our commitment to these standards and to delivering best-in-class service to our esteemed clients and lasting value to our other stakeholders.”