Bristow Group Inc Stock Price, News & Analysis

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.

Bristow Group Inc. (NYSE: VTOL) has appointed retired U.S. Air Force General Maryanne Miller to its Board of Directors, effective May 23, 2021. With over 39 years of military service, General Miller brings extensive experience in global mobility and leadership from her role as Commander of Air Mobility Command. CEO Christopher S. Bradshaw expressed enthusiasm for leveraging her expertise in pursuing new market opportunities, including government services and advanced air mobility. Miller aims to enhance Bristow's vision as a leader in vertical flight solutions.

Bristow Group Inc. (NYSE: VTOL) will release its fourth quarter fiscal year 2021 financial results after market close on May 26, 2021. A conference call is scheduled for May 27, 2021, at 10 a.m. ET, where investors can discuss the results. Participation details include dialing 800-353-6461 for domestic calls and +1 334-323-0501 for international calls, with access code 8912072. A replay will be available until June 10, 2021.

Bristow Group Inc. (NYSE: VTOL) has secured a three-year contract extension with Aker BP, effective until August 2024, to provide air transportation crew change services in Norway. This partnership, lasting over 15 years, will utilize Bristow's S-92 fleet from their Sola base. The current contract ends on August 31, 2021, and includes an option for an additional year. Bristow emphasizes its commitment to safety and efficiency, enhancing stability in operations for Aker BP, which explores and produces oil and gas on the Norwegian continental shelf.

Bristow Group Inc. (NYSE: VTOL) announced a reorganization of its executive leadership team effective April 1, 2021, aimed at enhancing strategic diversification and maintaining market leadership in search and rescue and offshore helicopter services. The changes are intended to optimize the talents of existing leaders and align resources with long-term priorities, including expansion into renewables and government services. Key appointments include David Stepanek as Executive Vice President, Sales and Chief Transformation Officer, and Samantha Willenbacher as Senior Vice President, Americas.

Bristow Group Inc. (NYSE: VTOL) has achieved the Continued Airworthiness Management Organisation (Part CAMO) certification, becoming the first helicopter operator in the UK to do so. This certification demonstrates Bristow's commitment to safety and industry leadership, with all compliance successfully completed ahead of the August 2021 deadline set by the Civil Aviation Authority. The Part CAMO certification establishes rigorous safety management and compliance monitoring systems, providing customers with assurance regarding the airworthiness of its fleet.

Bristow Group Inc. (NYSE: VTOL) has successfully closed a private offering of $400 million in 6.875% senior secured notes due 2028. The funds will be used to repay approximately $153.4 million of secured equipment term loans and $206.2 million in term loans with PK AirFinance. Additionally, the company will redeem all outstanding 7.750% Senior Notes worth $132.0 million. This transaction aims to enhance Bristow's financial position by extending debt maturities and reducing operational costs, thereby improving its credit profile.

Bristow Group (NYSE: VTOL) announced a private offering of $400 million in 6.875% senior secured notes maturing March 1, 2028. The offering, priced under Rule 144A and Regulation S, is expected to close on February 25, 2021. Proceeds will primarily repay existing loans totaling approximately $355.9 million and redeem outstanding 7.750% Senior Notes due 2022. These notes are fully guaranteed by the Company and its subsidiaries and secured by liens on certain helicopters and other assets.