Originally Posted by
jimf671
Within Bristow Group, the value of BHL is kept artificially low and the expenses are driven artificially high by the leasing arrangements. I think Bristow Aircraft Leasing Ltd and Bristow Aviation Holdings Ltd, both Brit registered, are two of the mechanisms. If I was a financial officer at BHL, these are amongst the first suppliers I'd be talking to about trimming the outgoings!
Avia Quest Ltd was, until a few days ago, called Bristow Helicopters Leasing Ltd, but has changed its name, directors and persons with significant control during this critical period. A bit strange, but limited value involved and probably a single aircraft.
Probably Bristow divesting itself of the Russian operation? Here's an extract from the Bristow website (now outdated):
Bristow Aviation has a 48.5% interest in Aviashelf Aviation Co. (“Aviashelf”), a Russian helicopter company. Additionally, Bristow owns 51% of two U.K. joint venture companies, Bristow Helicopters Leasing Ltd. and Sakhalin Bristow Air Services Ltd. These two U.K. companies lease aircraft to Aviashelf which holds the client contracts for Russian operations.
The major (only?) shareholder of the new Avia Quest Ltd is a Russian citizen who runs SAT Airlines, a Sakhalin based airline.