Bristow Helicopters has launched a consultation with North Sea staff over job reductions.
The total number of workers facing potential job losses stands at 130 – including up to 66 pilots – in jobs across the UK.
The company said the move was in response to the “ongoing reduction”of oil and gas activity in the North Sea following the decline in global prices.
A Bristow spokeswoman said: “The company has taken numerous measures to reduce costs but we have not been able to reach the level of cost reduction needed and 130 personnel may be affected by redundancy in the UK.
“The company is consulting with the trade unions and employees on these proposals.”
Bristow currently employs around 2,000 people in the UK.
General secretary, Jim McAuslan, said: “This is devastating news for the Bristow community and Balpa is doing everything it can to support pilots who are affected.
“This announcement reflects the collapse in the oil price and its impact on North Sea industry.
“Pilots want to see that industry thrive again and ensure when it does, we have the skilled pilots and other workers available. We must now make certain that businesses all the way down the supply chain are not squeezed by the big oil and gas companies.
“The Government needs to nurse the industry through this downturn so skills are not lost when the situation improves. Balpa is calling for a jobs summit with the Treasury, Department for Business, Innovation and Skills, the Scottish Government and the Department for Transport to take stock of the situation.
“This loss of experience is a major threat to the UK industry as well as a personal catastrophe for the individuals concerned.
“Balpa will do all it can to protect pilots who are feeling the brunt of the downturn in the North Sea oil industry.”
Balpa has called for a summit on North Sea jobs in light of the news on job losses urging both the UK and Scottish Governments to reach out.
A UK government spokesman said:“The UK’s oil and gas industry supports hundreds of thousands of jobs, and we want to make sure it’s in the best possible position to manage the current decline in the oil price. We can’t control the price of oil – but we’ve delivered on the Wood Review recommendations and established the Oil and Gas Authority.
“In addition, the package of support announced in the March Budget is expected to encourage over £4 billion of additional investment in the UK’s oil and gas industry over the next five years.”
The news comes after Technip confirmed it would reduce its workforce by 6,000.
The pair are the latest companies to ceded to the marketplace pinch.
A Scottish Government spokesman said: “The Scottish Government has already held large-scale jobs events for the offshore industry in Aberdeen, attracting more than 1,700 people who received advice and practical support, job opportunities, start up support, further education and up-skilling opportunities. All individuals attending these events have been offered one-to-one follow up.
“We set up the energy jobs taskforce in January, which is helping protect jobs by coordinating action between government, the wider public sector, industry, unions and industry bodies. This is making a positive difference at a challenging time. The taskforce is driving forward a detailed action plan that aims to support offshore operators and the supply chain.
“Energy Minister Fergus Ewing has already met with over 35 oil and gas companies this year and will be happy to review Balpa’s suggestion. Meanwhile, Scottish Enterprise chief executive Lena Wilson has engaged with around 40 companies in her role as taskforce chair.”
The dipped oil price initially saw companies cut contractor rates.
But Wood Group, Ceona and Shell were later forced to reduce their numbers.
Scottish Labour Energy Spokesman Lewis Macdonald said:“The announcement by Bristow of over 120 job losses is an indication of the severe problems still facing the oil and gas industry in Scotland.
“It is essential that those who are facing redundancy receive support from government at every level, and that the skills base in the oil support sector in the North East is protected.
“Helicopter safety has to be the top priority, and there is a very real concern that maintenance programmes and repairs will be put at risk if jobs are lost.
“I would urge the Scottish Government to work with Bristow to do what it can to save these jobs, and to protect the safety of our offshore workers.”