I received a call today from an investment friend who had a question about the Bristow "earnings call" today. You can listen at this link
Bristow
In it, Bill C, the Bristow CEO, talks about their recent safety record. Amazingly, he considered the recent 332 debacle off the coast of Nigeria an "incident", surely not an accident, even though the aircraft was totaly destroyed. His rationale - The pilot made a "controlled landing into the water" so it's just an incident. Seems to beg the big question - if there was no mechanical malfunction (at least that's the rumor) and the pilot basically flew it into the water - that's not an accident? Does the term CFIT ring a bell? If that's the case, maybe we need to reexamine the recent Bond 225 accident - Gee - he just landed on the water!!
I explained to my friend that Bristow bonuses for management are tied to "no accidents" - Well - that's a hard one to figure out!! Just a normal landing though a little short of the boat! Everybody gets paid. Case closed.