Go Back  PPRuNe Forums > Aircrew Forums > Rotorheads
Reload this Page >

BRS stock crashing

Rotorheads A haven for helicopter professionals to discuss the things that affect them

BRS stock crashing

Old 8th Jan 2019, 03:38
  #21 (permalink)  
 
Join Date: Sep 2006
Location: Inside the Industry
Posts: 666
Looks like its going back up. $3.36. Now PHI is down. I wasn't feeling lucky gambling on BRS stock. But its down enough to delay the Columbia deal. If I was the family, I would want cash, not BRS stock.
industry insider is offline  
Old 16th Jan 2019, 13:34
  #22 (permalink)  
 
Join Date: Mar 2011
Location: London/Atlanta
Posts: 457
Columbia Helicopters confirm they are going ahead with sale despite Bristows stock price plunging.

https://www.oregonlive.com/business/...g-stock.htmlBy Mike Rogoway The Oregonian/OregonLive


Oregon-based Columbia Helicopters says it still wants to sell itself to a Texas company, even though the buyer’s share price has plunged by more than two-thirds since announcing the $559 million deal.

Bristow Group’s investors began unloading shares almost as soon as the company announced its plan to buy privately held Columbia last November, driving Bristow’s stock down from $10.04 to just $3.16.

Bristow’s deteriorating position on Wall Street has produced calls for the Texas company to scuttle the deal. But Columbia Helicopters insists it intends to sell.

“There’s a lot of talk, obviously, but the facts are the facts. There’s an agreement,” said Santiago Crespo, Columbia’s vice president of business development and strategy.

Most of the purchase price, $492 million, is to be paid in cash, much of which Bristow intends to borrow. So the precipitous decline in Bristow stock has only diminished what Columbia’s owners would receive by $43 million, about 8 percent.

It has devastated Bristow, though. The deal currently values Columbia at $516 million, 4.5 times Bristow’s diminished market capitalization.
nomorehelosforme is offline  
Old 16th Jan 2019, 13:45
  #23 (permalink)  
 
Join Date: May 2002
Location: "Deplorable but happy as a drunken Monkey!
Age: 70
Posts: 15,930
So in order to pay off Debt.....you really think Bristow is going to continue operations Columbia in the hopes that is its own Salvation....or will they try to flog off the bits and pieces to other Buyers and hope to generate some cash flow to offset other losses in the traditional Bristow operations?
SASless is offline  
Old 17th Jan 2019, 09:49
  #24 (permalink)  
 
Join Date: May 2002
Location: Wanaka, NZ
Posts: 1,856
I'm bewildered that any financial institution would be game to lend $492 million to any company in such circumstances.
gulliBell is offline  
Old 22nd Jan 2019, 18:59
  #25 (permalink)  
 
Join Date: Sep 2017
Location: Aberdeen
Posts: 46
After a bit of stabilisation the SP seems to be on the slide again.

The earnings call next month is going to be VERY interesting, itís also gone very silent over the new CEO perhaps they will announce it then.

Surely the Columbia deal will be off? I wonder if that was the case whether we would see a massive spike in the SP?
LesPretend is offline  
Old 4th Feb 2019, 21:16
  #26 (permalink)  
 
Join Date: May 2009
Location: uk
Posts: 145
So who would buy Bristows now and for how much? One would have thought diversifying into Utility market with Columbia purchase would have been seen as good news.....
JulieAndrews is offline  
Old 4th Feb 2019, 22:56
  #27 (permalink)  
 
Join Date: May 2002
Location: "Deplorable but happy as a drunken Monkey!
Age: 70
Posts: 15,930
If I hit the Lottery this week I will take some of the proceed and buy it.

Then I would buy a bunch of cardboard boxes that easily fit into two outstretched hands....and clean out all the useless management and get the business back to working like a real helicopter company.

First to go would be the HR Department....every last one of them.....and get back to a small Admin section.

Closely following them would be the drones that have created paperwork empires for themselves.

It would look like a Bowling Alley with all the Heads rolling about the place.

That wee callow fellow from the Shetland Islands would have a set of yellow footprints to stand on in front of my Desk all day long.

Instead of a Bentley parked out front....it would be a Diesel 4WD Pickup truck.
SASless is offline  
Old 5th Feb 2019, 05:02
  #28 (permalink)  
 
Join Date: Apr 2007
Location: Out there
Posts: 254
Originally Posted by SASless View Post
If I hit the Lottery this week I will take some of the proceed and buy it.

Then I would buy a bunch of cardboard boxes that easily fit into two outstretched hands....and clean out all the useless management and get the business back to working like a real helicopter company.

First to go would be the HR Department....every last one of them.....and get back to a small Admin section.

Closely following them would be the drones that have created paperwork empires for themselves.

It would look like a Bowling Alley with all the Heads rolling about the place.

That wee callow fellow from the Shetland Islands would have a set of yellow footprints to stand on in front of my Desk all day long.

Instead of a Bentley parked out front....it would be a Diesel 4WD Pickup truck.
Nice, I'd vote for you. I'd get the HR department to sack all the dead wood then sack each other. You could actually webcast it on pay-per-view and make a few bucks too as plenty would want to watch. ;-)
Evil Twin is offline  
Old 5th Feb 2019, 05:49
  #29 (permalink)  
 
Join Date: Feb 2006
Location: The Alps
Posts: 1,997
Laughingly a friend whose a businessman albe8t in the computing industry ( I hate the word IT) and running several businesses, cynically says HR stands for Hopeless Resources and states it’s just creating work for the sake of it.

in saying that a good friend of mine has a title of HR in a small aviation company and she does a helluva lot more than just Hr..( tiny minuscule fraction) she gets her hands dirty with moving parts, cleaning hangar , , Flight ops you name it ....

So what is happening with Columbia take over now? Still in a state of equilibrium.

Whats happened with state of the former Academy / Adventures hope someone’s got hold and taken care of it.



cheers
chopper2004 is offline  
Old 5th Feb 2019, 06:14
  #30 (permalink)  
 
Join Date: Sep 2017
Location: Aberdeen
Posts: 46
Originally Posted by SASless View Post
If I hit the Lottery this week I will take some of the proceed and buy it.

Then I would buy a bunch of cardboard boxes that easily fit into two outstretched hands....and clean out all the useless management and get the business back to working like a real helicopter company.

First to go would be the HR Department....every last one of them.....and get back to a small Admin section.

Closely following them would be the drones that have created paperwork empires for themselves.

It would look like a Bowling Alley with all the Heads rolling about the place.

That wee callow fellow from the Shetland Islands would have a set of yellow footprints to stand on in front of my Desk all day long.

Instead of a Bentley parked out front....it would be a Diesel 4WD Pickup truck.
Unfortunately BRS are not alone in having an HR department that Iím guessing seemingly expands as the work dwindles. Thatís a common theme repeated over O&G companies at the moment.

As an outsider looking in not specifically aimed at BRS but the obsession in the sector to remove the unfashionable roles which did most of the work behind the scenes particularly at the outstations to me seems a massive error in judgement. Good people were lost as bean counters in far away corporate HQs had their red pens out. It just doesnít seem high level enough for management throughout the sector to get out there and understand how things actually work.

I heard a story recently about someone who was taken into a redundancy meeting to be told by her manager that he didnít know what she actually did! A call to the client would have cleared that up for him.
LesPretend is offline  
Old 5th Feb 2019, 21:55
  #31 (permalink)  
 
Join Date: Jun 2003
Location: Omnipresent
Posts: 377
HR depts. slight thread creep but what an absolute bunch of self serving scum. Arrogance beyond belief. Talking down at crew/engineers as if they were minions, Sorry but whoís got qualifications and skills important to the core business beyond being a rubbish admin? In BRS case it has reached crisis levels where HR take it upon themselves to decide they donít think someone deserves allowances due per staff handbooks etc. Or those who canít even locate union agreements the company are bound by. The list goes on. HR and in BRS case UK management with their culture of shafting former colleagues to line their own pockets with bonuses. DRAIN THE SWAMP!!
Hedski is offline  
Old 7th Feb 2019, 09:54
  #32 (permalink)  
 
Join Date: Sep 2017
Location: Aberdeen
Posts: 46
So the earnings call has been put back till next week.

I wonder if itís to incorporate some good news.

Rumours of a big contract win in the UK
LesPretend is offline  
Old 8th Feb 2019, 20:59
  #33 (permalink)  
 
Join Date: Dec 2007
Location: UK
Posts: 224
Originally Posted by LesPretend View Post
So the earnings call has been put back till next week.

I wonder if itís to incorporate some good news.

Rumours of a big contract win in the UK
Is that the BP?
helicrazi is offline  
Old 11th Feb 2019, 21:28
  #34 (permalink)  
 
Join Date: Aug 2007
Location: Cyberspace
Posts: 122
Not looking good: 10-Q filing late due to Controls issue, Columbia acquisition off with $20M paid to them, Q revenues well down YOY and cash running out....watch that share price sink tomorrow.

Bristow Investors ? News Releases ? BRS ? bristowgroup.com

Sad to see, wonder what HM Government will do to protect UKSAR ?
Non-Driver is offline  
Old 11th Feb 2019, 22:32
  #35 (permalink)  
 
Join Date: Sep 2017
Location: Aberdeen
Posts: 46
Itís not the biggest issue but allowing the fixed wing operators to haemorrhage cash the way they have and allow them to continue has put a lot of rotary jobs at risk as this latest set of accounts prove. Itís exceptionally reckless.

Eastern appear to be loosing about $50k a day?

No one else would persist in throwing good money after bad propping up Airlines (no matter how much they are needed for contracts) particularly in the U.K. which in this climate have no possibility of breaking even. Time to ditch whatís left, keep whatís needed and reign in the pointless loss making scheduled work.

Drastic action looks like it needs to happen ASAP.

Last edited by LesPretend; 12th Feb 2019 at 06:46.
LesPretend is offline  
Old 12th Feb 2019, 00:10
  #36 (permalink)  
 
Join Date: May 2002
Location: Wanaka, NZ
Posts: 1,856
Originally Posted by Non-Driver View Post
...watch that share price sink tomorrow.
Yeah....this should spook investors and sink the share price real good.

"...the Company's internal control over financial reporting was ineffective at March 31, 2018 and the reporting periods thereafter. As such, both management's assessment and the report of KPMG on internal control over financial reporting as of March 31, 2018 should no longer be relied upon."

And a $20M donation to Columbia, and $14M compensation paid to Sikorsky for cancelling an aircraft purchase contract is the icing on the cake.

Last edited by gulliBell; 12th Feb 2019 at 00:24.
gulliBell is offline  
Old 12th Feb 2019, 00:34
  #37 (permalink)  
 
Join Date: Sep 2014
Location: On land
Posts: 112
And I understand, a few more $million to be paid out in redundancy to Australian pilots in the coming weeks.
Nescafe is offline  
Old 12th Feb 2019, 04:14
  #38 (permalink)  
 
Join Date: May 2017
Location: wah gwaan
Posts: 24
You couldn't make this stuff up:

The entire Bristow family is grateful for Jonathan’s leadership and service over the past nine years, and wishes him
all the best.
"Leadership" errr I don't think so. He has run BRS like a banker.
barbados sky is offline  
Old 12th Feb 2019, 05:49
  #39 (permalink)  
 
Join Date: Apr 2000
Location: EGDC
Posts: 7,196
Sad to see, wonder what HM Government will do to protect UKSAR ?
The only thing it can - throw money at it!

The financial security of the contractor was supposed to be a very big part of the selection process.

The military no longer have the capability nor the training system to generate that capability - who could have seen that coming?
crab@SAAvn.co.uk is offline  
Old 12th Feb 2019, 10:04
  #40 (permalink)  
 
Join Date: Mar 2016
Location: Underneath the Radar
Posts: 96
Here's the latest:

https://www.ainonline.com/aviation-n...-columbia-deal

Doesn't look good...
rrekn is offline  

Thread Tools
Search this Thread

Contact Us Archive Advertising Cookie Policy Privacy Statement Terms of Service

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.