Bristows Q1 2018 result
Joined: Jun 2005
Posts: 491
Likes: 21
From: nowhere special
BRS now have the same problem CHC had, too many idle aircraft. BRS financed theirs rather than leasedwhich means their corporate debt is lagely unsecured (with exceptions) and structured differently from CHC. These results continue to not be good.
Thread Starter
Joined: Jan 2016
Posts: 158
Likes: 29
From: Under a tree in the NT
If, as you say, Bristows financed their aircraft, then at least they can sell the equity in the asset. That is something I believe CHC could not do, hence rushing for the shelter of Chapter 11 protection.
Joined: Dec 2007
Posts: 2,205
Likes: 276
From: GMT
If, as you say, Bristows financed their aircraft, then at least they can sell the equity in the asset. That is something I believe CHC could not do, hence rushing for the shelter of Chapter 11 protection.
The cash burn is far too high, and unless they can reduce operating costs, releasing equity will just give them a short lived period of breathing room before they burn through the equity and run out of options.
Joined: Jul 2002
Posts: 230
Likes: 0
From: Murica.
At least they are branching out...
Here's one of their 76s flying for Blade in New York, seen here loading pax in East Hampton.
After 7 years with the company, it is a bit strange to see a Bristow 76 flying "high paying" passengers in NYC.
Here's one of their 76s flying for Blade in New York, seen here loading pax in East Hampton.
After 7 years with the company, it is a bit strange to see a Bristow 76 flying "high paying" passengers in NYC.
