Trouble in (offshore) paradise
From 2 days ago.
Bristow Group: Strong Sell Due To Misleading Behavior, Looming Covenant Violation, And Likely Bankruptcy - Bristow Group Inc. (NYSE:BRS) | Seeking Alpha
Might as well post it on this thread as most of us are taking about the overall state of the industry.
A couple of glaring omissions by the author (not talking about fleet utilisation and clearly knowing nothing about valuing different types and sizes of helicopters) but overall paints an interesting view on the UK SAR contract which
appears to be bleeding BRS dry of cash.
Perhaps CHC filing first has been a master stroke? Reminds me of this:
https://www.youtube.com/watch?v=ag14Ao_xO4c
CFO from Enron. Really?!
Over to the floor for discussion/ tearing apart.
Well the end in sight for BRS???