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Bristow Group Inc. has signed long-term, favorable maintenance support agreements with Leonardo Helicopters for airframes and Pratt & Whitney for engines on the Company’s global fleet of AW139 helicopters.
The legacy Era AW139 fleet was previously covered by a limited power-by-the-hour (“PBH”) support agreement with Leonardo for the airframes, while the engines were maintained on a time and cost of materials basis. The legacy Bristow AW139 fleet was covered by multiple, disparate PBH support agreements with Leonardo for the airframes, and the engines were covered under a PBH agreement with Pratt & Whitney. The new agreements result in consistent, global maintenance support programs for Bristow’s AW139 helicopters, both the airframes and the engines.
“Following the merger of Era and Bristow in June 2020, we have been working for two years to align our AW139 maintenance support agreements on the most favorable terms possible for Bristow,” said Stuart Stavley, senior vice president, Global Fleet Management. “The cost certainty contained in these agreements is particularly valuable given the broader economic backdrop of the current inflationary environment.”
The aggregate buy-in cost is approximately $55 million, which will be paid in installments between June and December 2022.