Cost of closing Bristow Alaska operations is $4 Million

Cost of closing Bristow Alaska operations is $4 Million

8-Nov-2013 Source: HeliHub.com

In an extract from Bristow Group’s second quarter results (period to 30th September 2013), they state

A charge of $0.5 million in costs associated with the planned closure of our Alaska operations which related primarily to employee severance and retention costs. We expect to incur approximately $3.5 million in additional costs related mostly to severance and retention through August 2014 to provide services for the remainder of the applicable remaining client contract terms and close our Alaska operations.

In a posting here on HeliHub.com early in October, we revealed that Bristow Group had decided to close operations in Alaska, where they currently operate three bases at Fairbanks, Valdez, and Deadhorse. Each current contract will be flown to its end date. In a statement to employees, SVP of Global Operations Jeremy Akel cited the seasonal nature of the work there as being a factor, along with “providing services that are not aligned with [the company’s] desire to be the best offshore helicopter operator globally “.

Ben Haverdee – HeliHub.com

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