It’s a debt for equity swap essentially, similar to PHI. There is not one real aviation qualified person on the new Bristow board.
The new owners will want their money back as soon as possible, but operating profits are almost impossible to achieve in the current oil and gas environment. The UK SAR contract might be the only profitable part.
The oil and gas industry globally is going to have to get used to paying more or find another way to crew change it’s workers.