Rotorcraft Leasing Acquires Bristow’s Single-Engine Operations

 - December 2, 2008, 4:34 AM

Rotorcraft Leasing has acquired 53 Bell 206 single-engine helicopters and related assets operated by the Bristow Group in the Gulf of Mexico for $65 million. The deal includes spares; bases at Rockport, Texas, and Abbeville, La.; and offshore fueling equipment. Most of Bristow’s affected employees are expected to be offered positions
at Rotorcraft. Bristow expects to post a $40 million gain on the sale. It will continue to operate the aircraft until they can all be transferred to Rotorcraft’s operating certificate. More than half of the aircraft had been transferred by the end of last month. Rotorcraft has entered into agreements with Bristow’s former customers served by the 206s.