Bristow Group Announces Sale of Its 50% Interest In The FB Entities, an Unconsolidated U.K. Joint Venture, for 74 Million Pounds

   Bristow Group Announces Sale of Its 50% Interest In The FB Entities, an
      Unconsolidated U.K. Joint Venture, for 74 Million Pounds Sterling

  PR Newswire

  HOUSTON, July 15, 2013

HOUSTON, July 15, 2013 /PRNewswire/ -- Bristow Group Inc. (NYSE: BRS), the
leading provider of helicopter services to the worldwide offshore energy
industry, today announced that Bristow Helicopters Limited (BHL), a Bristow
Group affiliate, has sold its 50% interest in FB Heliservices Limited, FB
Leasing Limited and FBS Limited (the "FB Entities") to FR Aviation Group
Limited, a Cobham plc affiliate. The FB Entities, owned jointly by BHL and FR
Aviation Group Limited, are U.K. corporations which principally provide pilot
training, maintenance and support to government agencies.

Michael Imlach, Managing Director of BHL, commented, "The divestiture of our
interest in the FB Entities is an opportunity to redeploy capital toward
investments in our core offshore helicopter transport and civilian Search and
Rescue (SAR) services. For more than 18 years, our joint venture in the FB
Entities has served all stakeholders well, including the U.K. government, and
we thank Cobham for their excellent partnership."

The sales price for BHL's 50% interest is £74 million, or approximately $112
million at current exchange rates. The FB Entities contributed $8.6 million of
adjusted EBITDAR to Bristow Group in fiscal year 2013 under the equity method
of accounting. The transaction resulted in a pre-tax gain on sale of
investment of approximately $104 million, or $1.81 per diluted share, after

"This divestiture is consistent with our Bristow Value Added strategy to
optimize the returns for our shareholders," said Jonathan Baliff, Bristow
Group's Senior Vice President and Chief Financial Officer, "and with the
ability to quickly redeploy the proceeds into our core high growth oil and gas
and SAR businesses, we are reaffirming our fiscal year 2014 adjusted EPS
guidance range of $4.20-$4.50. The divestiture is also anticipated to be
credit accretive by adding more liquidity and improving our already
industry-leading credit metrics."

ABOUT BRISTOW GROUP INC. 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 Alaska, Australia, Brazil, Canada, Russia and
Trinidad. For more information, visit the Company's website at .

FORWARD LOOKING STATEMENT Statements contained in this news release that state
Bristow's or management's intentions, expectations or predictions of the
future are forward-looking statements. Actual results could differ materially
from those projected in such forward-looking statements, including statements
regarding earnings guidance and the impact of the divestiture. Risks and
uncertainties include without limitation: fluctuations in the demand for our
services; fluctuations in worldwide prices of and demand for natural gas and
oil; fluctuations in levels of natural gas and oil exploration and development
activities; the impact of competition; actions by customers; the risk of
reductions in spending on helicopter services by governmental agencies;
changes in tax and other laws and regulations; changes in foreign exchange
rates and controls; risks associated with international operations; operating
risks inherent in our business, including the possibility of declining safety
performance; general economic conditions including the capital and credit
markets; our ability to obtain financing; the risk of grounding of segments of
our fleet for extended periods of time or indefinitely; our ability to
re-deploy our aircraft to regions with greater demand; our ability to acquire
additional aircraft and dispose of older aircraft through sales into the
aftermarket; the possibility that we do not achieve the anticipated benefit of
our fleet investment program; availability of employees; and political
instability, war or acts of terrorism in any of the countries where we
operate. Additional information concerning factors that could cause actual
results to differ materially is contained from time to time in Bristow's SEC
filings, including but not limited to Bristow's Annual Report on Form 10-K for
the fiscal year ended March 31, 2013. Bristow Group Inc. disclaims any
intention or obligation to revise any forward-looking statements, including
financial estimates, whether as a result of new information, future events or

Contact: Linda McNeill
         Bristow Group Inc.
         (713) 267-7622

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