Helicopter companies see mixed blessing in soaring oil prices

Soaring oil prices have been a mixed blessing for the helicopter industry, bringing higher materials costs as well as new demand from oil-exploration companies, top executives told Dow Jones Newswires this week.

Oil prices over $50 per barrel bring a bonanza in customer demand, said Jeff Pino, president of United Technologies Corp.’s (UTX) Sikorsky Aircraft unit, in an interview. With oil now selling for more than $70 barrel, producers are heading for remote and rugged territory – and buying big Sikorsky helicopters to get there, Pino said.

But Bell Helicopter Chief Executive Michael Redenbaugh cautioned that high oil prices come with their own challenges.
Market Watch