Amur Helicopter Financial Services Announces Completion of Major Fleet
Transaction With Bristow Group Inc.
WHITE PLAINS, NY -- (Marketwired) -- 02/26/14 -- 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
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 at www.bristowgroup.com.
For Amur Finance Company, Inc. and Amur Helicopter Financial Services
+1 (336) 324-3420
For Bristow Group:
Director of Global Communications
+1 (713) 267-7600
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