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Airnorth future? Bristow in financial trouble
https://www.flightglobal.com/news/ar...on-fut-457523/ US-headquartered offshore helicopter specialist Bristow Group has issued a stark warning that the company faces insolvency unless it is able to implement a financial turnaround. "If we are unable to execute transactions to improve our financial condition, we do not believe we will have sufficient liquidity to conduct our business operations based on existing conditions and estimates during the next 12 months." So where does this leave Airnorth? They are a wholly owned subsidiary of Bristow and if Bristow goes under, Airnorth will go with them. Anyone want to buy a regional? |
Fairly flat business but not losing or making much at all. Remove the currency headwind which seems to be wiping the profit each year, and its an attractive business for a local. I highly doubt Virgin wants anything to do with Embrear again so I’d actually expect QF or Alliance to pick this up considering they do have a small relationship with them at the moment. It wouldn’t be worth much. Tiger was 60 million flat profit with a dozen airbus so 10-20mill max. |
Airnorth’s EBITDA was US $-1.2million in the Dec18 qtr. (last reported) Bristow Group Inc. - News Release Darwin’s economy is crunching. NT government’s debt is spiralling. https://www.abc.net.au/news/2018-12-...-debt/10632654 QF have adjusted their own and their subsidiaries services and bases. Anyone want to buy this regional? |
Unfortunately it'd be a lot easier for a competitor looking at entering (or expanding) the Darwin market to wait until the entity folded and then pick up the routes and crew left behind for nix.
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What competitor would that be? Theres no point fighting over the last couple of sips in an empty good bag. |
Maybe the previous owners will buy it back at a bargain price |
With QF’s stake in Alliance, Airnorth might be a good investment for Virgin. It’s would allow them to secure a wholly owned subsidiary that can operate ejets profitably for its QLD operations taking away its reliance on Alliance. |
Originally Posted by davidclarke
(Post 10453603)
With QF’s stake in Alliance, Airnorth might be a good investment for Virgin. It’s would allow them to secure a wholly owned subsidiary that can operate ejets profitably for its QLD operations taking away its reliance on Alliance. |
Originally Posted by Mr Google Head
(Post 10453586)
Maybe the previous owners will buy it back at a bargain price Small fortunes in aviation and all. I don’t think the previous directors would be keen to spend that war chest keeping it afloat until theres only air in the piggy bank. The last thing Virgin need to do is buy another regional airline. If Airnorth go dodo, someone else will pick up the pieces. I’d imagine those Alliance F70s would be a pretty good machine up there too. |
Its a horrible aircraft to fly on with little leg room. The only problem with this statement is that its not operating the E Jet profitably. |
Embraer E170/190 is probably one of the nicest aircraft to ride in, lot more appeal than the the Fokker 70, Dash8 400, ATR series and the CRJ. If you want cramp Pavement, try the QLink B 717 on a 2.5 hour sector. |
Originally Posted by Stationair8
(Post 10453693)
Embraer E170/190 is probably one of the nicest aircraft to ride in, lot more appeal than the the Fokker 70, Dash8 400, ATR series and the CRJ. If you want cramp Pavement, try the QLink B 717 on a 2.5 hour sector. Not ‘the vibe’ , just read a lot. |
Leg room (or pitch if others want to be pedantic) was very average. |
Originally Posted by Icarus2001
(Post 10453788)
Understood and I don't doubt your experience but you cannot judge an entire line of aircraft based on experience with one operator. Each sets the pitch according to their business model. So you could get very different experiences depending on which aircraft you are on. How was the noise level? Seat comfort? Air conditioning?
Airnorth has a good service on their longer routes but I, personally, thought the space was a bit below par. |
Originally Posted by Pavement
(Post 10453831)
Ok got your point. I’ve travelled the E series in other parts of the world and enjoyed the experience. The Delta layout with some extra legroom seats (E190) is particularly good. Alitalia was also good despite the Italian service. Airnorth has a good service on their longer routes but I, personally, thought the space was a bit below par. |
Originally Posted by VH DSJ
(Post 10454268)
one of VA's leased Ejets will be returning to Australia to be flown by Cobham.
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Rubbish!! I flew the E-Jet for 4 years and the pax loved it. No middle seat and plenty of leg room, very quiet as well.
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DF agree - have flown on BA E-jets many times and prefer them to the Airbus for sure. And they perform pretty well out of LCY. |
VH-DSJ look no further than a dapper looking Italian chap who had a dose of ‘these things weren’t my idea and I want them gone’ Same bloke ordered the 330’s at great expense (don’t get me wrong they are a great aeroplane - just not at the price they paid). The VA ejet was extremely popular, though a little binary, some people hated them, the majority though I think loved them. |
The VA ejet was extremely popular, though a little binary, some people hated them, the majority though I think loved them. |
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