HOUSTON, May 15, 2019 /PRNewswire/ -- Bristow Group
Inc. (NYSE: BRS) ("Bristow" or the "Company") today announced that
the Company has received approval from the U.S. Bankruptcy Court
for the Southern District of Texas
(the "Bankruptcy Court" or "the Court") for its First Day motions
related to its voluntary Chapter 11 reorganization.
The Court has approved Bristow's motions seeking a variety of
"first-day" relief for the filing entities, including authority to
pay employee wages and salaries, Company-sponsored
benefit programs, as well as vendors and suppliers in the ordinary
course for goods and services provided after the Petition Date.
Bristow intends to use the Chapter 11 proceedings to restructure
and strengthen its balance sheet and achieve a lower and more
sustainable debt level, while continuing to provide safe, reliable
and professional industrial aviation services to its global clients
well into the future.
All of Bristow's businesses are operating in the ordinary course
and are anticipated to continue to do so for the duration of the
Chapter 11 process.
The Chapter 11 filings pertain to six of Bristow's legal
entities in the United States and
two of its Cayman Islands
subsidiaries. Bristow's other non-U.S. entities, including those
holding Bristow's non-U.S. air operating certificates ("AOCs"), are
not included in the Chapter 11 filings. The following entities are
included: Bristow Group Inc., BHNA Holdings Inc., Bristow Alaska
Inc., Bristow Helicopters Inc., Bristow U.S. Leasing LLC, Bristow
U.S. LLC, BriLog Leasing Ltd. and Bristow Equipment Leasing
Ltd.
Additional information regarding Bristow's Chapter 11 filing is
available on the Company's website:
http://www.bristowgroup.com/restructuring. Court filings and
information about the claims process are available at:
https://cases.primeclerk.com/Bristow. Questions should be directed
to the Company's claims agent, Prime Clerk, by email to
bristowinfo@primeclerk.com or by phone at +1 844-627-6967 (toll
free) or +1 347-292-3534 (toll).
Baker Botts L.L.P. and Wachtell, Lipton, Rosen & Katz are
serving as the Company's legal counsel and Alvarez & Marsal is
serving as the Company's restructuring advisor. Houlihan Lokey is serving as financial advisor
to the Company.
About Bristow Group Inc.
Bristow Group Inc. is the world's leading industrial aviation
service provider offering helicopter transportation, search and
rescue (SAR) and aircraft support services to government and civil
organizations worldwide. Bristow's strategically located global
fleet supports operations in the North Sea, Nigeria and the U.S. Gulf of Mexico; as well as in most of the
other major offshore oil and gas producing regions of the world,
including Australia, Brazil, Canada, Russia and Trinidad. Bristow provides SAR services to the
private sector worldwide and to the public sector for all of the
U.K. on behalf of the Maritime and Coastguard Agency. To learn
more, visit our website at www.bristowgroup.com.
Contact:
Global Media Relations
Adam Morgan
Director, Global Communications
+1 832.783.7927
Adam.morgan@bristowgroup.com
Reevemark
Paul Caminiti/Delia Cannan/Molly
Curry
+1 212.433.4600
BristowGroup@reevemark.com
Investor Relations
Linda McNeill
Director, Investor Relations
+1 713.267.7622
Linda.mcneill@bristowgroup.com
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SOURCE Bristow Group Inc.
