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

Bristow files for Chapter 11 Bankruptcy

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

Bristow files for Chapter 11 Bankruptcy

Old 15th Aug 2019, 20:54
  #61 (permalink)  
 
Join Date: Dec 2009
Location: Moo moo land
Posts: 279
List of aircraft and location at the time of the signing from the legal documents

(i) in respect of Aircraft 1, Aircraft 3, Aircraft 4 and Aircraft 5, Australia;
(ii) in respect of Aircraft 7, Aircraft 8, Aircraft 9, Aircraft 11 and Aircraft 13, the United Kingdom;
(iii) in respect of Aircraft 2, Aircraft 6, Aircraft 10, Aircraft 12, Aircraft 16, Aircraft 17 and Aircraft 18, Norway;
and (iv) in respect of Aircraft 14, Aircraft 15, Aircraft 19, Aircraft 20, Aircraft 21, Aircraft 22, Aircraft 23 and Aircraft 24, Nigeria

“Aircraft 1” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 41339

“Aircraft 2” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920124

“Aircraft 3” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 31583

“Aircraft 4” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 41370

“Aircraft 5” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920221,

“Aircraft 6” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920159,

“Aircraft 7” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920068

“Aircraft 8” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920065,

“Aircraft 9” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920066,

“Aircraft 10” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920228,

“Aircraft 11” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 31310,

“Aircraft 12” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920070,

“Aircraft 13” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 41378,

“Aircraft 14” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920103,

“Aircraft 15” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920082,

“Aircraft 16” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920025,

“Aircraft 17” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920011,

“Aircraft 18” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920012,

“Aircraft 19” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920075,

“Aircraft 20” means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761070

,21 means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761071,

Aircraft 22” means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761044,

“Aircraft 23” means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761045

“Aircraft 24” means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761046,.

full bs here http://ir.bristowgroup.com/static-fi...b-44c27eac776d
lowfat is offline  
Old 15th Aug 2019, 22:42
  #62 (permalink)  
 
Join Date: Jul 2018
Location: Europe
Posts: 6
Aicraft registrations and assumed locations entered in the quote.

Originally Posted by lowfat View Post
List of aircraft and location at the time of the signing from the legal documents

(i) in respect of Aircraft 1, Aircraft 3, Aircraft 4 and Aircraft 5, Australia;
(ii) in respect of Aircraft 7, Aircraft 8, Aircraft 9, Aircraft 11 and Aircraft 13, the United Kingdom;
(iii) in respect of Aircraft 2, Aircraft 6, Aircraft 10, Aircraft 12, Aircraft 16, Aircraft 17 and Aircraft 18, Norway;
and (iv) in respect of Aircraft 14, Aircraft 15, Aircraft 19, Aircraft 20, Aircraft 21, Aircraft 22, Aircraft 23 and Aircraft 24, Nigeria

“Aircraft 1” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 41339 [G-CKYP - Norwich, UK]

“Aircraft 2” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920124 [LN-ONY - Hammerfest, NO]

“Aircraft 3” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 31583 [G-CIMU - Norwich, UK]

“Aircraft 4” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 41370 [ZH-ZFP - Bairnsdale, AU]

“Aircraft 5” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920221, [VH-ZUW - Port Hedland, AU]

“Aircraft 6” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920159, [LN-OIB - Bergen, NO]

“Aircraft 7” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920068, [G-IACF - Scatsta, UK]

“Aircraft 8” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920065, [G-IACD - Sumburgh, UK]

“Aircraft 9” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920066, [G-IACE - Aberdeen , UK]

“Aircraft 10” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920228, [LN-ONM - Stavanger, NO]

“Aircraft 11” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 31310, [G-CHBY - Aberdeen, UK]

“Aircraft 12” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920070, [LN-ONT - Norway, ?? not flying??]

“Aircraft 13” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 41378, [G-CIKO - Norwich , UK]

“Aircraft 14” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920103, [G-CGCI - Aberdeen, UK]

“Aircraft 15” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920082, [5N-BLX, Nigeria]

“Aircraft 16” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920025, [LN-ONP - Stavanger, NO]

“Aircraft 17” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920011, [LN-ONN - Stavanger, NO]

“Aircraft 18” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920012, [LN-ONO - Stavanger, NO]

“Aircraft 19” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920075, [5N-BOA, Nigeria]

“Aircraft 20” means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761070 [5N-BTD, Nigeria]

,21 means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761071, [5N-BTE, Nigeria]

Aircraft 22” means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761044, [5N-BRW, Nigeria]

“Aircraft 23” means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761045 [5N-BRX, Nigeria]

“Aircraft 24” means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761046, [5N-BRY, Nigeria]


workhorse22 is offline  
Old 30th Aug 2019, 11:23
  #63 (permalink)  
 
Join Date: May 2017
Location: wah gwaan
Posts: 26
Bristow Australia's contract with Santos supporting its Port Hedland based drilling program will be having a 12 month break from the end of October 2019. Bristow is believed to be re-deploying 2x S-92s VH ZUV and VH ZUW internationally to service other "contractual" requirements. VH ZUW which was included in the list of Bristow Equipment Leasing aircraft subject to missed payments could find its way back to GECAS owned PK Air Finance as a repossession.

From a high of over 30 offshore contracted helicopters and 500+ staff in 2014, Bristow Australia will now only be left with its Beach Energy contract for 1x AW139 + 1x uncrewed technical backup based in Tooradin, Victoria. Bristow has recently vacated its Perth Airport offices it occupied since 1994 and is understood to be vacating Western Australia's oil and gas market completely reducing to just a base office in Tooradin, Victoria.

Coupled with its wholly owned airline Air North for which Bristow paid $32m in 2015 being for sale, its hard to see how Bristow will be able to continue as a going concern in Australia as it downsizes to just 5% of its 2014 footprint.
barbados sky is offline  
Old 31st Aug 2019, 05:50
  #64 (permalink)  
 
Join Date: Aug 2001
Location: 50 50 Broome
Posts: 107
good luck to the BRS staff, many who have been loyal to the company for a long time. Some good 92 blokes there. Amazing that when I interviewed for BRS in oz in 2011 they were expanding like mad. Not quite sure how it all went so bad for them.
Brother is offline  
Old 31st Aug 2019, 15:33
  #65 (permalink)  
 
Join Date: Dec 2006
Location: retirementland
Age: 74
Posts: 766
Originally Posted by Brother View Post
Not quite sure how it all went so bad for them.
Some say a certain INPEX aviation adviser who had a big hand in that.
Shell Management is offline  
Old 5th Sep 2019, 18:07
  #66 (permalink)  
 
Join Date: Jul 2018
Location: Europe
Posts: 6
Surprisingly low activity in this thread, makes me wonder why. No rumors from within Bristow?

Bristow now closing a deal with PK Airfrance/Milestone with dedicated hearing sept. 18. See docket 610.

The agreement between the Debtors and the Milestone Parties set forth in the Milestone Term Sheet resolves several months of disputes, provides the Debtors with lease rates more aligned to market, consensually modifies a credit facility secured by, among other collateral, twenty-four aircraft, and resolves what would otherwise be a contested confirmation process with the Milestone Parties.
workhorse22 is offline  
Old 5th Sep 2019, 20:29
  #67 (permalink)  
 
Join Date: Dec 2007
Location: UK
Posts: 260
Well they hardly wanted to repossess them did they
helicrazi is online now  
Old 10th Sep 2019, 10:03
  #68 (permalink)  
 
Join Date: Jun 2005
Location: llanelli
Posts: 377
PK was/ is financing arm at GECAS, not a leasing company, and they were/ are acting as the agent for a financing consortium of lenders who may have had a very different view on seizing aircraft. The PK agreement is essentially a secured loan and those aircraft are not Milestone leased aircraft per se. They are (were) BRS owned aircraft with a secured loan against them. Not wildly important distinction but HC def hits the nail on the head when noting that lenders make money when they lend, not repossess.
nowherespecial is offline  
Old 10th Sep 2019, 10:21
  #69 (permalink)  
 
Join Date: Jan 2016
Location: Under a tree in the NT
Posts: 82
Is this the same Milestone that injected $300M USD into CHC to help them out of chapter 11? The same Milestone which is part of GE? The same GE that the previous CHC CEO was employed by, prior to him taking over CHC and taking it into chapter 11?
NumptyAussie is offline  
Old 10th Sep 2019, 11:13
  #70 (permalink)  
 
Join Date: Jun 2005
Location: llanelli
Posts: 377
Not sure if that's aimed at me but, er yes. I think you already knew that though. The PK aircraft were not Milestone aircraft (parent company exempted), that's my only point. But I think you knew that too. PK's financing activities in rotary are dwarfed by those in fixed wing, rotary financing is just a small side line for that business unit.

Milestone injected the money into CHC as a way to keep their aircraft working, create obligation and make money in the medium term. It's actually a great deal for them, CHC needed money and Milestone wanted to keep their aircraft on contract with CHC, especially at the expense of their rivals. So this was a good bit of business for both parties.

KF came to CHC from GE's Power Division, although he had worked in the aviation side (never in GECAS though). Not entirely sure what your point is on that one?
nowherespecial is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


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.