Bristow to merge with Era
Official as of a few minutes ago.
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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 |
How long will it take for Bristow to drag Era down?
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Sounds like a trade of cracked Bats to me!
One big race to the bottom! |
7 of the 9 Board of Directors for the combined company will be from Bristow. |
End of an Era?
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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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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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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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Originally Posted by Northernstar
(Post 10670732)
..,,,All the while CHC Scotia post record losses.
https://www.energyvoice.com/oilandga...enging-market/ |
Does anyone believe there is a profitable offshore business model that does work in these times??
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Originally Posted by V12
(Post 10671056)
Does anyone believe there is a profitable offshore business model that does work in these times??
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Originally Posted by Northernstar
(Post 10670732)
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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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 |
Well investors seem to like the deal, stock price rose over 19% yesterday
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Originally Posted by OvertHawk
(Post 10671125)
Apparently the ERA CEO is indeed taking the helm. Board of directors yet to be announced.
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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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Originally Posted by SaulGoodman
(Post 10671695)
As a fixed winger: how much business do drones take away from heli’s nowadays? Inspections etc?
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Originally Posted by V12
(Post 10671056)
Does anyone believe there is a profitable offshore business model that does work in these times??
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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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