Bristows Q1 2018 result
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
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.
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.
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