26-Feb-2014 Source: Amur HFS
Amur Helicopter Financial Services (Amur HFS) is pleased to announce that the company has entered into an agreement to complete a major fleet transaction with Bristow Group Inc. The transaction involves purchasing the entire Bristow fleet of twenty-eight (28) Bell 206-L4 helicopters. As part of completing this transaction, Amur HFS provided short-term operating leases to Bristow for several aircraft still required under customer contracts in the Gulf of Mexico. Bristow may extend these leases as needed to meet its customer obligations. In addition, several of the aircraft will be delivered to and purchased by Amur HFS in the 4th quarter of 2014 when they come off their current contract with Bristow. This combination of direct purchase, sale/leaseback and forward purchase commitment demonstrates Amur HFS’ flexibility in structuring transactions to meet its clients’ needs.
Neil Calvert, Amur HFS’ CEO said, “This fleet transaction demonstrates the breadth of services now being offered to the helicopter industry by Amur HFS.” He added, “As we introduce this business, we are delighted to support such a well-respected and industry leading operator as Bristow.”
Jonathan Baliff, Bristow’s Senior Vice President and CFO said, “Bristow is pursuing many Bristow Value Added (BVA) accretive opportunities to support our clients as they move into increasingly deeper water exploration and production. We are divesting our smaller aircraft in support of our long term strategy to meet our customers’ future demands while also reducing the number of fleet types from the current 28 types to approximately eight fleet types in ten years.” He commented, “Amur is a full service provider that offered a truly comprehensive solution suited to Bristow’s specific needs.”
Amur HFS completed the entire transaction within 60 days of the proposal acceptance by Bristow. The quick execution of the transaction is highly demonstrative of the service level, expertise and comprehensive solutions that Amur HFS is able to provide the industry.
About Amur Helicopter Financial Services (Amur HFS)
Amur Helicopter Financial Services, a subsidiary of Amur Finance Company, Inc., offers a complete suite of integrated Fleet Management Solutions to the global rotor-wing market. Amur HFS works with helicopter operators and owners to develop customized fleet acquisition, management and disposition solutions for helicopters, their parts and accessories. Primary services include a broad range of leasing and financial solutions including: operating leases, finance leases, stub leases and sale/leaseback arrangements. For more information, visit the Company’s website at www.amurhfs.com.
About Bristow Group
Bristow Group Inc. is the leading provider of helicopter services to the worldwide offshore energy industry based on the number of aircraft operated and one of two helicopter service providers to the offshore energy industry with global operations. The Company has major transportation operations in the North Sea, Nigeria and the U.S. Gulf of Mexico, and in most of the other major offshore oil and gas producing regions of the world, including Australia, Brazil, Canada, Russia and Trinidad. For more information, visit the Company’s website atwww.bristowgroup.com.