Bristow extends North Sea contract and buys more helicopters
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Bristow extends North Sea contract and buys more helicopters
BUSINESS WIRE report
Bristow Group announced yesterday its existing contract with IAC for helicopter services to offshore facilities both East and West of the Shetland Islands has been amended and extended.
The final contract, which has been extended until June 2010, will call for the provision of five new Sikorsky S-92 helicopters to be delivered in the second half of calendar 2007 to replace the six AS332L Super Puma helicopters currently under contract.
Bristow has also exercised its options to buy four more S-92s.
These four plus one of the two S-92s ordered in May 2006 will be used to fulfill the IAC contract requirements. The remaining S-92 ordered in May 2006 is being deployed to operations for a major operator offshore Norway.
In addition, it reached an agreement with Sikorsky to extend the remaining September 30, 2006 option for an additional S-92 deliverable in calendar 2007 to December 31, 2006.
William E. Chiles, President and Chief Executive Officer said, "This award is an important step in our growth strategy and further implements our ongoing fleet expansion program.
We are adding five new state of the art Sikorsky S-92 large aircraft to our fleet while making the Super Pumas currently under contract available for re-deployment on other opportunities in our worldwide operations.
We will continue to consider if and when to exercise our options for nine additional large and 24 medium aircraft based on market demand."
Bristow Group announced yesterday its existing contract with IAC for helicopter services to offshore facilities both East and West of the Shetland Islands has been amended and extended.
The final contract, which has been extended until June 2010, will call for the provision of five new Sikorsky S-92 helicopters to be delivered in the second half of calendar 2007 to replace the six AS332L Super Puma helicopters currently under contract.
Bristow has also exercised its options to buy four more S-92s.
These four plus one of the two S-92s ordered in May 2006 will be used to fulfill the IAC contract requirements. The remaining S-92 ordered in May 2006 is being deployed to operations for a major operator offshore Norway.
In addition, it reached an agreement with Sikorsky to extend the remaining September 30, 2006 option for an additional S-92 deliverable in calendar 2007 to December 31, 2006.
William E. Chiles, President and Chief Executive Officer said, "This award is an important step in our growth strategy and further implements our ongoing fleet expansion program.
We are adding five new state of the art Sikorsky S-92 large aircraft to our fleet while making the Super Pumas currently under contract available for re-deployment on other opportunities in our worldwide operations.
We will continue to consider if and when to exercise our options for nine additional large and 24 medium aircraft based on market demand."
