8,444 Active Recruiters     Over 2 Million Candidates Globally

Advanced
  1. Keep me logged in
  2. forgot password
cancel

Checkout Jobs Basket (0)

You can checkout a maximum of 150 jobs.

Signup Better for Candidates

  • Create a free virtual CV and let recruiters find you
  • Automatically have your profile matched to suitable Oil & Gas positions
  • Link to your profile using it as a free online CV
  • Store all your employment documents to your profile for easy sending
  • Always receive feedback on positions applied for

Signup Better for Recruiters

  • Suitable candidates automatically matched to your position
  • View candidate profiles for free
  • No more waiting for candidates to respond to job advertisements
  • Only ever pay when you match a candidate to a position
  • No more cold calling and sorting through out dated CVs

Bristow Group Shakes Off Bankruptcy

Published in Oil Industry News on Monday, 4 November 2019


Graphic for News Item: Bristow Group Shakes Off Bankruptcy

Bristow Group Successfully Emerges From Chapter 11

Completes Financial Restructuring with $535 Million in New Capital, an Industry-Leading Balance Sheet and Improved Liquidity

Bristow Group Inc. today announced that it has emerged from Chapter 11 bankruptcy protection, successfully completing its debt restructuring process and implementing the Chapter 11 reorganization plan confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on October 4, 2019.

Bristow has reduced its debt significantly and is emerging with $535 million of new capital, which it believes will provide significant financial flexibility to support its global operations. The Company also announced it has amended and reinstated its $75 million term loan as of its emergence.

L. Don Miller, President and Chief Executive Officer of Bristow, said, "We are beginning this new chapter of Bristow's proud history having achieved our key restructuring goals: a stronger balance sheet and improved liquidity that will enable us to continue providing industry-leading service to our global client base. I would like to commend our global team for its unwavering focus on delivering safe and efficient service to our clients and passengers as we navigated the restructuring process."

Miller continued, "We are committed to further building on our global leadership role in offshore oil and gas transportation and search and rescue. As we have throughout this process, we remain focused on being 'best in class' for all our stakeholders, particularly our employees, customers and new owners as we continue to look for ways to drive innovation and efficiencies across the global business."

In accordance with the Plan of Reorganization, Bristow's new Board of Directors has assumed its responsibilities. The new Board will be chaired by Aris Kekedjian, and includes Wesley E. Kern, Robert J. Manzo, Lorin L. Brass, G. Mark Mickelson, Brian D. Truelove, Hooman Yazhari and L. Don Miller, who will continue to serve on the Board. Former Bristow director Ian A. Godden will continue to serve as chairman of Bristow Aviation Holding Limited, Bristow's U.K. affiliate, and serve in an advisory role to Bristow.





Tags

Bristow Group, Helicopter, Offshore, Chapter11








Oil and Gas News Archive


Latest Oil & Gas News







Featured Companies

  • View All JobsOMPA

    Offshore Marine People & Academy (OMPA) is a global provider of personnel and training to the renewables, oil & gas, telecommunications and marine industries.

    With over 15 years' industry experience, we work with candidates to match them to the right roles and equip them with the skills and knowledge needed to succeed. Our job is to exceed your expectations.

    Visit us online: offshorempa.com

  • View All JobsChronos Oil and Gas

    Chronos Oil and Gas is one of the fastest growing and best placed recruitment agencies in the sector.

    With over 300,000 candidates on our database and an international team of specialist recruiters we work with clients to staff major projects around the world.

    Register your CV at www.chronosoilandgas.com

  • View All JobsNatural Resources

    Natural Resources is a UK based recruitment company providing personnel of all disciplines and nationalities worldwide.

    We represent clients and candidates at all levels who operate globally within oil & gas, renewables, nuclear, power, mining, marine, drilling, construction and petrochemicals. Our client base includes energy and construction.

    Visit Natural Resources at natural-resources.com