We had no idea things were so bad. :p

The only one in the game that doesn't have an empty wallet?


Edit:

Or ....?

In November 2017, I posted the following elsewhere when the Bristow Group bean counter numbers did not make sense in relation to the proposed rollout on the ground.

"The key related element of the earnings presentation is the order book which for UK SAR shows 4 large rotorcraft delivered in SEPTEMBER 2019. In line with that revelation are statements about a wider deferment of capital expenditure on aircraft and the possibility of not making any money in the North Sea during some of the examined periods. ... ... Their capex deferment plan runs out to 2021 and if they can put four aircraft back two years then I suspect it is simply cheaper to pay a penalty than pay for the aircraft and pay for all the training conversion. These things don't get any cheaper as we move toward 2023, so it just gets worse and worse. The next contract probably considers contractor performance on previous contracts: black mark for not completing the promised aircraft provision."

Here we are in April 2019 and the four aircraft were transferred from Leonardo to Bristow some time ago and fleet deployment is days away from completion. Multiply that discrepancy out across the entire Bristow Group world and it turns into big bucks and big trouble.

Does anyone actually know if the UK SAR contract has produced a profit when viewed in isolation, or is it simply a case of good cashflow that greases the wheels of a bankrupt company?

A difficult question when viewing from the outside. Some suggest the AW189 delay may be partly supported by Leonardo but it's still quite likely the latter case is the reality up to this point. In a few months when CG151 is in place and the transition team are gone there should be a chance to make some money. It won't be huge though since a contract estimated at £2bn to £3.3bn for 14 or 15 aircraft that was awarded at £1.6bn after revising to 22 aircraft (incumbent's bid over 20% higher!) :ugh: isn't going to be plain sailing.

The military are so broke and the training system so slow that it would take another 10 years to make it happen.

Wind the clock back to when I was consistently flamed on PPrune for saying privatising UKSAR was a crap idea...............

But as you were told meany times it's a brave new world & will be alright

yes, that's going really well.....
Fortunately, the boys and girls on the front line are doing what they do best - just constantly let down by poor management.

yes, I almost put that in my previous post - didn't say the military was perfect but we could have achieved the same service if we had just been given new aircraft.

They would probably still be in the initial stages of evaluation at Boscombe....

Thanks Jim. At least it should be very cash flow positive over the coming few years as the Capex will have all been covered.

With CHC as a recent bankrupt (And are they still holding the Black Spot?), and Babcock's parent worth the same two brass farthings as Bristow group, who you gonna call?

Not a process that is required to utilise civil aircraft on the military register.......

Sadly, the 'brave new world' still has donkeys leading the lions............

I still think that as far as UK SAR is concerned there is a good chance it will just blow over. The Americans will do what they have to do. BHL will keep cashing cheques from the DfT. Keep calm and carry on. Same as the CHC Ireland experience.

But that's for THIS contract. What happens when the DfT has to renew the contract (already working on it) and nobody with the technical ability to provide the service can demonstrate the financial competence they expect?

It would be interesting to see how a certain individual who was at the forefront of pushing the UKSAR model, and had visions of selling it to other nations, views his business plan now...........

Whatever happens in Houston, people will still get hauled out of the waters of the Minch and off rocky ledges in Kintail. I don't think anyone in an orange suit is worried about their job.

Meanwhile, there are more worries from ex-92 aircrew at Inverness about where to put everything in a 189! I expect airframes will be shuttled around the fleet in the next few days to get a couple of low hours ones up to Inverness. (You would, wouldn't you?) A week from now we'll have a completed roll-out of the original plan. It's taken a while.

https://cimg4.ibsrv.net/gimg/pprune....917d4e8e66.jpg