- Bristow and Leonardo have finalized a long-term support package
extending into the next decade for the AW139 and AW189 helicopter
fleets, providing enhanced maintenance and operations
efficiency.
- A new AW139 full flight simulator will be introduced in
Aberdeen, Scotland beginning in
2026, strengthening training capabilities alongside the existing
AW189 simulator.
- Bristow will add four new AW189 helicopters to its offshore
energy services fleet by 2025 and 2026, supporting its strategic
growth objectives and contractual demands.
HOUSTON and ROME, Nov. 6, 2024
/PRNewswire/ -- Bristow Group Inc. (NYSE: VTOL), the global leader
in innovative and sustainable vertical flight solutions, and
Leonardo, a global leader in aerospace, defence &
security, announced they have finalized a series of long-term
agreements that will enhance global fleet support and training for
the AW139 and AW189 helicopters, extending into the next decade.
These agreements reinforce the strong relationship between the two
companies and provides continued support for operations in key
markets.
The finalized package includes the following support highlights
applicable to Bristow's global fleet:
- Enhanced Power-by-the-Hour (PBH) agreements for search and
rescue (SAR) operations and offshore energy services (OES)
helicopters, providing tailored maintenance and operational
efficiency.
- A long-term AW189 simulator training agreement in Aberdeen, Scotland, supporting critical pilot
training needs.
- The introduction of an AW139 full flight simulator in
Aberdeen beginning in 2026,
alongside the existing AW189 simulator, complementing an already
robust training center to support fleet operations in the North
Sea.
- An enhanced global fleet support agreement, covering key
performance indicators (KPIs), inventory management, training,
Health and Usage Monitoring Systems (HUMS), and other
Leonardo-provided services.
Bristow will introduce four new AW189 helicopters into its OES
business, scheduled to enter service in 2025 and 2026. The four new
AW189 helicopters are part of a previously announced order earlier
this year and are expected to provide added flexibility to
Bristow's fleet planning as well as diversification across
Bristow's fleet mix.
"These additions align with Bristow's strategic objectives to
enhance operational capability and meet contractual demands," said
Stu Stavley, Bristow's Chief
Operating Officer for Offshore Energy Services. "The finalization
of these long-term support and training agreements will support
Bristow's ability to meet the evolving needs of both our Government
Services and Offshore Energy Services operations."
"The renewed Global Support and Training Agreement for the AW139
and AW189 demonstrates Leonardo's commitment to providing
state-of-the-art solutions," said Paul De Jonge van Ellemeet, SVP
Commercial Market Development & Global Accounts. "By offering
full component coverage service plans, localized technical support,
and access to our advanced simulators and courses, we are ensuring
Bristow continues to operate at the highest level of efficiency and
safety as they also keep expanding their fleet of Leonardo
helicopters."
Forward-Looking Statements Disclosure
This press
release contains "forward-looking statements." Forward-looking
statements represent Bristow Group Inc.'s (the "Company") current
expectations or forecasts of future events. Forward-looking
statements generally can be identified by the use of
forward-looking terminology such as "may," "will," "expect,"
"intend," "estimate," "anticipate," "believe," "project," or
"continue," or other similar words, and include statements
regarding the expected benefits of the fleet support and training
agreements disclosed herein. These statements are made under the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995, reflect management's current views with respect to
future events and therefore are subject to significant risks and
uncertainties, both known and unknown. The Company's actual results
may vary materially from those anticipated in forward-looking
statements. The Company cautions investors not to place undue
reliance on any forward-looking statements. Forward-looking
statements speak only as of the date of the document in which they
are made. The Company disclaims any obligation or undertaking to
provide any updates or revisions to any forward-looking statement
to reflect any change in the Company's expectations or any change
in events, conditions or circumstances on which the forward-looking
statement is based that occur after the date hereof, except as may
be required by applicable law.
Risks that may affect forward-looking statements include, but
are not necessarily limited to, those relating to: the impact of
supply chain disruptions and inflation and our ability to recoup
rising costs in the rates we charge to our customers; our reliance
on a limited number of helicopter manufacturers and suppliers and
the impact of a shortfall in availability of aircraft components
and parts required for maintenance and repairs of our helicopters,
including significant delays in the delivery of parts for our S92
fleet; our reliance on a limited number of customers and the
reduction of our customer base as a result of consolidation and/or
the energy transition; public health crises, such as pandemics
(including COVID-19) and epidemics, and any related government
policies and actions; our inability to execute our business
strategy for diversification efforts related to government services
and advanced air mobility; the potential for cyberattacks or
security breaches that could disrupt operations, compromise
confidential or sensitive information, damage reputation, expose to
legal liability, or cause financial losses; the possibility that we
may be unable to maintain compliance with covenants in our
financing agreements; global and regional changes in the demand,
supply, prices or other market conditions affecting oil and gas,
including changes resulting from a public health crisis or from the
imposition or lifting of crude oil production quotas or other
actions that might be imposed by the Organization of Petroleum
Exporting Countries (OPEC) and other producing countries;
fluctuations in the demand for our services; the possibility of
significant changes in foreign exchange rates and controls;
potential effects of increased competition and the introduction of
alternative modes of transportation and solutions; the possibility
that portions of our fleet may be grounded for extended periods of
time or indefinitely (including due to severe weather events); the
possibility of political instability, civil unrest, war or acts of
terrorism in any of the countries where we operate or elsewhere;
the possibility that we may be unable to re-deploy our aircraft to
regions with greater demand; the existence of operating risks
inherent in our business, including the possibility of declining
safety performance; the possibility of changes in tax,
environmental and other laws and regulations and policies,
including, without limitation, actions of the governments that
impact oil and gas operations, favor renewable energy projects or
address climate change; any failure to effectively manage, and
receive anticipated returns from, acquisitions, divestitures,
investments, joint ventures and other portfolio actions; the
possibility that we may be unable to dispose of older aircraft
through sales into the aftermarket; the possibility that we may
impair our long-lived assets and other assets, including inventory,
property and equipment and investments in unconsolidated
affiliates; general economic conditions, including interest rates
or uncertainty in the capital and credit markets; the possibility
that reductions in spending on aviation services by governmental
agencies where we are seeking contracts could adversely affect or
lead to modifications of the procurement process or that such
reductions in spending could adversely affect search and rescue
("SAR") contract terms or otherwise delay service or the receipt of
payments under such contracts; and the effectiveness of our
environmental, social and governance initiatives.
If one or more of the foregoing risks materialize, or if
underlying assumptions prove incorrect, actual results may vary
materially from those expected. You should not place undue reliance
on our forward-looking statements because the matters they describe
are subject to known and unknown risks, uncertainties and other
unpredictable factors, many of which are beyond our control. Our
forward-looking statements are based on the information currently
available to us and speak only as of the date hereof. New risks and
uncertainties arise from time to time, and it is impossible for us
to predict these matters or how they may affect us. We have
included important factors in the section entitled "Risk Factors"
in the Company's Annual Report on Form 10-K for the year ended
December 31, 2023 which we believe
over time, could cause our actual results, performance or
achievements to differ from the anticipated results, performance or
achievements that are expressed or implied by our forward-looking
statements. You should consider all risks and uncertainties
disclosed in the Annual Report and in our filings with the United
States Securities and Exchange Commission (the "SEC"), all of which
are accessible on the SEC's website at www.sec.gov.
About Bristow Group
Bristow Group Inc. is the leading
global provider of innovative and sustainable vertical flight
solutions. Bristow primarily provides aviation services to a broad
base of offshore energy companies and government entities. The
Company's aviation services include personnel transportation,
search and rescue, medevac, fixed-wing transportation, uncrewed air
systems and ad hoc helicopter services.
Bristow currently has customers in Australia, Brazil, Canada, Chile, the Dutch Caribbean, the Falkland Islands, India, Ireland, the Kingdom
of Saudi Arabia, Mexico,
the Netherlands, Nigeria, Norway, Spain, Suriname, Trinidad, the UK, and the U.S. To learn more,
visit our website at www.bristowgroup.com.
About Leonardo
Leonardo is an international industrial
group, among the main global companies in Aerospace, Defence, and
Security (AD&S). With 53,000 employees worldwide, the company
approaches global security through the Helicopters, Electronics,
Aircraft, Cyber & Security and Space sectors, and is a partner
on the most important international programmes, within these
sectors, such as Eurofighter, NH-90, FREMM, GCAP, and Eurodrone.
Leonardo has significant production capabilities in Italy, the UK, Poland, and the USA. Leonardo utilises its subsidiaries, joint
ventures, and shareholdings, which include Leonardo DRS (72.3%),
MBDA (25%), ATR (50%), Hensoldt (22.8%), Telespazio (67%), Thales
Alenia Space (33%), and Avio (29.6%). Listed on the Milan Stock
Exchange (LDO), in 2023 Leonardo recorded new orders for €17.9
billion, with an order book of €39.5 billion and consolidated
revenues of €15.3 billion. Included in the MIB ESG index, the
company has also been part of the Dow Jones Sustainability Indices
(DJSI) since 2010.
View original
content:https://www.prnewswire.com/news-releases/bristow-and-leonardo-finalize-long-term-support-and-training-agreements-for-aw139-and-aw189-helicopters-302297967.html
SOURCE Bristow Group