Originally Posted by
Apate
Does anyone actually know if the UK SAR contract has produced a profit when viewed in isolation, or is it simply a case of good cashflow that greases the wheels of a bankrupt company?
this is a good point. Almost certainly there is no overall profit yet, still a great contract to have and as you say positive cash flow.
As for Bristow Helicopters Ltd being sold off, I wouldn’t have thought that Ch 11 conditions would allow this. The whole point in being granted Ch11 by a court is that it gives the company a chance to re pay debtors, therefore the judge will look very carefully at what parts of the company make money. The other complication of course is Ch11 is purely an American thing, UK SAR is under Bristow Helicopters Ltd and SAR does not have its own AOC. All makes for interesting viewing!