Bristow announces $75 million tender offer
Bristow Group has announced a cash tender offer to purchase $75 million of its secured notes maturing in 2023. The tender offer to purchase the 8.74% senior secured notes opened yesterday (12 August) and...
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Public large helicopter debt transactions from 2012-2019
The reality of 2019 thus far is that not many people are buying helicopters, and not many helicopter companies are raising money to grow in a market that requires consolidation. A select few companies...
Sikorsky sues Babcock for not taking two S-92s from 16 helicopter order
Sikorsky is suing Babcock International for failing to take delivery of two S-92 helicopters worth $58 million that were ordered in 2011. In a court filing, Sikorsky asks for: “compensatory damages, incidental damages, and...
EAA AirVenture round-up
From July 22-28 this year, legacy and experimental aviation companies were strutting their stuff, exhibiting their aircraft and ideas at the Experimental Aircraft Association (EAA) AirVenture air show in Oshkosh, Wisconsin, USA. According to...
Qinetiq reviews Bristow SAR contract
A recent independent review by British defence company Qinetiq has praised the transition of the UK’s search and rescue helicopter (SARH) services to the civil market as “successful”. In 2012, the UK Government put...
The silver lining to Franky Zapata’s cross-Channel flight cloud
Franky Zapata, the flying enthusiast who attempted to cross the English Channel on his personal VTOL on July 25, has been unsuccessful. The VTOL – dubbed Flyboard Air – is fitted with five jet...
Bristow finalizes $385 million debt for equity swap
Bristow, the helicopter operator currently in Chapter 11 protection, has entered into a backstop commitment agreement with several of its noteholders for a $385 million debt to equity swap. This is the latest step...
Karl Fessenden steps down as CEO of CHC
CHC Group is searching for a new CEO to replace Karl Fessenden who has resigned, effective from August 2nd, to explore new opportunities outside the oil and gas sector. The board has nominated Dave...
Columbia Helicopters acquired by AE Industrial Partners
Columbia Helicopters has sold a majority holding in itself to private equity firm AE Industrial Partners, four months after the collapse of its planned sale to Bristow. Back in November 2018 the ailing heavy...
New Money: Thora Capital closes first fund and heli transaction
It may seem like an odd time to invest in the helicopter market that is now five years into a downturn, but a new asset management firm Thora Capital has just closed its first...
LCI closes $135 million facility
Following the closing of a $75 million facility with CaixaBank announced last week, helicopter lessor LCI has gone further and closed a $135 million asset-backed facility led by CIT Group. The facility was arranged...
