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Bristow Group Inc. (NYSE: VTOL) is headquartered in Houston, Texas and stands as the leading global provider of helicopter services to the offshore energy industry based on aircraft numbers. Bristow's comprehensive services include scheduled and charter transportation via both rotary and fixed-wing aircraft. Operating in regions such as Africa, the Americas, Europe Caspian, and Asia Pacific, Bristow extends its reach to multiple continents, ensuring safe and efficient transport solutions.
Bristow also specializes in Search and Rescue (SAR) operations, a heritage service in the UK since 1971. The company utilizes advanced helicopters equipped with state-of-the-art SAR technology, including night vision, mission management, and enhanced onboard medical capabilities. Bristow also provides public sector SAR services in the UK under contract with the Maritime & Coastguard Agency (MCA).
The company's strategic growth included recent acquisitions of premium regional air carriers, integrating fixed-wing capabilities into their repertoire. This enhances their ability to deliver point-to-point services across 24 countries, including the UK, Norway, Nigeria, and the U.S.
Financially, Bristow has fortified its position through strategic investments and partnerships. Notably, in January 2024, Bristow secured a £55 million equipment financing deal led by National Westminster Bank Plc to support commitments under the UKSAR2G contract. This reflects Bristow's stable financial outlook and its commitment to upgrading its fleet with advanced SAR helicopters like the AgustaWestland AW139.
Further cementing its global footprint, Bristow received an Air Operator Certificate from the Irish Aviation Authority in February 2024, paving the way for next-generation Coast Guard SAR services in Ireland. The company also signed a Memorandum of Understanding with Saudi Arabia's Helicopter and Jet Company (THC) to explore advanced air mobility and collaborative vertical lift initiatives.
In terms of recent performance, Bristow reported a net loss of $7.9 million for Q4 2023, attributed to higher operating expenses and foreign exchange impacts. However, the company remains optimistic with a projected multi-year growth cycle in offshore energy, supported by new contracts and strategic investments in both government and commercial sectors.
Bristow continues to innovate and expand, ensuring it remains at the forefront of the vertical flight solutions industry. For more information, visit their website.
Bristow Group (NYSE: VTOL), a leader in vertical flight solutions, will present virtually at the Deutsche Bank Leveraged Finance Conference on October 5, 2021. The presentation will feature CEO Chris Bradshaw and CFO Jennifer Whalen at 9 a.m. ET, followed by investor meetings. An investor presentation will be accessible on Bristow's website on the same date. Bristow provides aviation services to major energy companies and public sector search and rescue operations in the U.K. and various other countries.
Bristow Group (NYSE: VTOL) and Eve Urban Air Mobility, an Embraer entity, announced a strategic partnership to develop an Air Operator's Certificate for Eve's electric vertical takeoff and landing (eVTOL) aircraft. The collaboration aims to create a comprehensive Urban Air Mobility operating model, leveraging Bristow's extensive experience in transportation. As part of this agreement, Bristow has ordered up to 100 eVTOLs, with deliveries expected to commence in 2026. Both companies will focus on vehicle design, regulatory development, and integration with air traffic management systems.
Bristow Group Inc. (NYSE: VTOL) and Vertical Aerospace Group Ltd have signed a Memorandum of Understanding to collaborate on the certification and operational planning for eVTOL aircraft. Bristow has placed a pre-order for 25 aircraft, with an option for 25 more, contributing to Vertical's total pre-orders exceeding 1,000 aircraft. The VA-X4 model will feature speeds of 200 mph and zero emissions. This partnership enhances Bristow's market position in vertical transportation and aims to offer advanced regional air mobility solutions.
Bristow Group Inc. (NYSE: VTOL), a leader in vertical flight solutions, will conduct a virtual presentation at the Barclays CEO Energy-Power Conference on September 10, 2021, at 8:35 a.m. ET. CEO Chris Bradshaw and CFO Jennifer Whalen will present and participate in investor meetings during the event. An investor presentation will be available on Bristow's website on the same date. Bristow offers aviation services to major energy companies and conducts search and rescue operations in various countries.
Bristow Group Inc. (NYSE: VTOL) has signed a Memorandum of Understanding with Electra.aero to develop hybrid-electric short take-off and landing (eSTOL) aircraft. These aircraft will be capable of carrying 1,800 pounds of cargo or 5-7 passengers over distances of up to 500 nautical miles, utilizing minimal runway space (300x100 ft). Bristow will leverage its 70+ years of transport expertise to assist in design, development, and certification processes for the new aircraft. A total of 50 low-emission aircraft are expected to be delivered to Bristow for new middle-mile logistics operations.
Bristow Group Inc. (NYSE: VTOL) reported a net loss of $14.2 million or $0.50 per diluted share for the fiscal first quarter ended June 30, 2021, an improvement from a loss of $42.6 million in the previous quarter. Operating revenues increased to $288.4 million, up from $281.5 million. Adjusted EBITDA rose to $40.0 million, marking a significant improvement from $30.5 million in the prior quarter. Operating expenses decreased by $3.8 million, but impairment losses and rising fuel costs remain concerns.
Bristow Group Inc. (NYSE: VTOL) will release its financial results for Q1 fiscal year 2022 on August 4, 2021, after market close. A conference call is scheduled for August 5, 2021, at 10 a.m. ET. Investors can join by calling 800-353-6461 domestically or +1 334-323-0501 internationally. An investor presentation will also be available on the company’s website on August 5, 2021. Bristow is a leading provider of vertical flight solutions, serving various energy companies and offering search and rescue services globally.
Bristow Group (NYSE: VTOL) announced four two-year contract extensions with Equinor, Shell, and Neptune, effective through April 2024, for air transportation crew change services in the Norwegian continental shelf.
The contracts, which include options for further extensions, mark a continuation of a longtime partnership, especially with Equinor, lasting over 20 years. Bristow will utilize its S-92 fleet for these operations, emphasizing safety and efficiency as key aspects of their collaboration.
Bristow Group Inc. (NYSE: VTOL) will present at the J.P. Morgan 2021 Energy, Power & Renewables Conference on June 22-23, 2021. The presentation is scheduled for June 23 at 2:00 p.m. Central Time. President Chris Bradshaw and CFO Jennifer Whalen will lead the session, with slides available on the Company's Investor Relations website. Bristow is a global leader in vertical flight solutions, primarily serving offshore energy companies and providing search and rescue services in various countries.
Bristow Group Inc. (NYSE: VTOL) reported a net loss of $42.6 million, or $1.47 per diluted share, for Q4 FY21, with operating revenues of $281.5 million. This is an improvement compared to a net loss of $57.1 million in Q3 FY21. Adjusted EBITDA was $30.5 million, down from $47.7 million in the previous quarter. The company's unrestricted cash balance stood at $228.0 million as of March 31, 2021. Additionally, Bristow closed a $400 million offering of senior secured notes, using proceeds for debt repayment and to strengthen liquidity.
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