...well today sees a further development in the saga with the investor relations page showing a submission by a major investor slating the current management including:
"GVIC believes recent events represent the culmination of years of mismanagement, poor strategic decisions, weak oversight, and reckless execution by Bristow’s board. It is GVIC’s opinion that the board has been entirely ineffective in delivering value to shareholders and has repeatedly neglected its core duty – to protect shareholders’ interests. It has overseen the severe deterioration of Bristow’s financial and operational position over several years and in the process threatened permanent impairment to Bristow’s shareholders, bondholders, employees, customers, vendors, partners, and the company’s reputation as a preeminent provider of industrial aviation services. GVIC has made numerous attempts to engage constructively with Bristow’s management and board to improve Bristow for the benefit of all stakeholders. Since November 2018, GVIC has sent six letters and made numerous requests to discuss Bristow’s operational and financial performance. Bristow has repeatedly ignored these communications, including offers to assist. In recent days, it has become clear that Bristow may seek a restructuring through a Chapter 11 process. To be clear, such a restructuring would be the wrong decision for Bristow."
Good luck to GVIC!