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Bristow to merge with Era

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Bristow to merge with Era

Old 24th Jan 2020, 10:35
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Bristow to merge with Era

Official as of a few minutes ago.
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Old 24th Jan 2020, 10:40
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From The Wall Street Journal

Helicopter company Era Group Inc. is in advanced-stage talks to acquire industry peer Bristow Group Inc., which emerged from bankruptcy in October after shedding roughly $900 million in debt, according to people familiar with the matter.

https://www.wsj.com/articles/helicopter-company-bristow-in-merger-talks-months-after-bankruptcy-exit-11579825877

https://finance.yahoo.com/news/bristow-era-merge-forming-larger-113010625.html


Employee portal FAQs below, Among other things it states no redundancies or change in benefits and that 7 of the 9 Board of Directors for the combined company will be from Bristow...

https://www.streetinsider.com/SEC+Fi.../16368310.html

Last edited by nomorehelosforme; 24th Jan 2020 at 11:01.
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Old 24th Jan 2020, 11:51
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How long will it take for Bristow to drag Era down?
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Old 24th Jan 2020, 12:22
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Sounds like a trade of cracked Bats to me!

One big race to the bottom!
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Old 24th Jan 2020, 14:51
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7 of the 9 Board of Directors for the combined company will be from Bristow.
I would have thought it would be better the other way round.
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Old 24th Jan 2020, 17:35
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End of an Era?
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Old 24th Jan 2020, 19:11
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Saddest news this year! End of an ERA indeed. Guessing some people's pockets are getting lined well, as surely no one could be that stupid. It seems another will drown in the offshore industry.
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Old 24th Jan 2020, 21:40
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So the company that avoided Ch11 is joining with those who’ve only just departed from the process after grossly incompetent management. Maybe the ERA CEO is taking the helm. All the while CHC Scotia post record losses.
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Old 25th Jan 2020, 01:37
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Can anyone with a deeper insight than myself explain how this merger is going to become anything other than a complete financial debacle........most likely sooner rather than later? I mean seriously, when one examines the Bristow business model in use these last number of years, you would think an operator like ERA would know better and just stay as far away as possible and avoid being infected from the outside.
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Old 25th Jan 2020, 05:39
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Originally Posted by Northernstar
..,,,All the while CHC Scotia post record losses.
Not an unfair comparison, with strong similarities to Bristow/ERA in scope, management and strategy. I’ll add some fact check to your statement.
https://www.energyvoice.com/oilandga...enging-market/
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Old 25th Jan 2020, 09:00
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Does anyone believe there is a profitable offshore business model that does work in these times??
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Old 25th Jan 2020, 10:12
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Originally Posted by V12
Does anyone believe there is a profitable offshore business model that does work in these times??
Hard to disagree with this statement.
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Old 25th Jan 2020, 10:18
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Originally Posted by Northernstar
So the company that avoided Ch11 is joining with those who’ve only just departed from the process after grossly incompetent management. Maybe the ERA CEO is taking the helm. All the while CHC Scotia post record losses.
Apparently the ERA CEO is indeed taking the helm. Board of directors yet to be announced.
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Old 25th Jan 2020, 12:05
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In theory it is possible to build a new facility by means of lending the money or build it with a mortgage. Then only the pay back or interest weight on your yearly turn-over.
But these long term liabilities will of course draw down on your balance
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Old 25th Jan 2020, 17:12
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Well investors seem to like the deal, stock price rose over 19% yesterday
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Old 25th Jan 2020, 22:46
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Originally Posted by OvertHawk
Apparently the ERA CEO is indeed taking the helm. Board of directors yet to be announced.
Anyone that can fly?
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Old 26th Jan 2020, 02:44
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As a fixed winger: how much business do drones take away from heli’s nowadays? Inspections etc?
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Old 26th Jan 2020, 08:13
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Originally Posted by SaulGoodman
As a fixed winger: how much business do drones take away from heli’s nowadays? Inspections etc?
A certain amount from the onshore filming, photography and survey market which will increase over time. Little or nothing from the portfolios of the likes of Bristow or ERA.
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Old 26th Jan 2020, 12:52
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Originally Posted by V12
Does anyone believe there is a profitable offshore business model that does work in these times??
Yeah. Offshore O&G companies buy and operate their own helicopters.
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Old 26th Jan 2020, 13:01
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Does this mean Bristow is getting back into the small ship business in the GOM?

Or....has that horse left the barn already?
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