Bristow to merge with Era
Joined: Mar 2011
Posts: 518
Likes: 50
From: London/Atlanta
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
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 January 2020 at 11:01.
Joined: Sep 2002
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From: In Between Places
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.
Joined: Jul 2006
Posts: 173
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From: The 4th dimentia.....
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.
Joined: Jan 2020
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From: Wherever I drop my bag
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.
Joined: Sep 2005
Posts: 768
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From: Montreal
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/
https://www.energyvoice.com/oilandga...enging-market/
Joined: Jan 2020
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From: Wherever I drop my bag
Joined: Apr 2010
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From: Lost again...
Apparently the ERA CEO is indeed taking the helm. Board of directors yet to be announced.
Joined: Jun 2014
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From: Netherlands
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
But these long term liabilities will of course draw down on your balance
Joined: Apr 2010
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From: Lost again...