Offshore oil and gas helicopter service provider Bristow has secured new contracts for 20 large aircraft that it expects will generate more than $2 billion in revenue. The deals are a combination of new contracts and extensions of current ones in Australia, Brazil and Europe for Sikorsky S-92s and Eurocopter EC225s.
Bristow Group consolidated its business units and made changes in the executive suite just weeks before posting declining net income, but modestly increasing revenues. The company said it made the changes “in an effort to improve operations and financial performance.”
Houston-based Bristow has exercised options to acquire four more Sikorsky S-92s. As part of the agreement, an earlier order for nine S-76s has been converted to options on the smaller rotorcraft. In addition, Bristow has taken options on 10 more S-92s, bringing the total number of options for this model to 14. –Thierry Dubois