Bristow Group, best known for its helicopter offshore, Search And Rescue and training operations, has entered bankruptcy protection in the US Bankruptcy Court.
According to the Group, the Chapter 11 filings only pertain to certain US and Cayman Island entities and other non-US entities are not part of the bankruptcy filing.
In a statement, Group President and CEO Don Miller said: “This is the best path forward for Bristow and we are confident that we will emerge from this restructuring process as a stronger and more competitive company that is better positioned for the future.
“Under the protection of the bankruptcy court, we expect to restructure and strengthen our balance sheet. We believe that this financial reorganization is an important step towards ensuring our company is best positioned financially and operationally for the long term.”
Meantime, according to press reports Bristow Group has sold Eastern Airways.
Based at Humberside airport in the UK, Eastern Airways operates a fleet of around 20 aircraft consisting of Jetstream 41, Saab 2000, ATR72, ERJ135 and ERJ145 types.
It is understood that Eastern has been sold to a company owned by Richard Lake, who founded the company in 1997.