October 31, 2019
Houston helicopter transportation company Bristow Group has emerged from bankruptcy with new funding and changes in the board of directors.
Bristow announced on Thursday its Chapter 11 reorganization plan confirmed on October 4th by the US Bankruptcy Court for the Southern District of Texas.
Bristow has significantly reduced its debt, now carrying a $535 million new capital commitment, and has amended and reinstated its $75 million term loan as of its emergence from bankruptcy.
As part of the reorganization, the new board of directors will be chaired by Aris Kekedjian and the board now includes Wesley E. Kern, Robert J. Manzo, Lorin L. Brass, G. Mark Mickelson, Brian D. Truelove, Hooman Yazhari — and L. Don Miller, President and CEO, who is a holdover from the previous 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.
CEO Miller said, “We are committed to further building on our global leadership role in offshore oil and gas transportation and search and rescue.