Bristow Group Inc.

Bristow Group is in a confirmed-plan, post-confirmation implementation posture, with the bankruptcy court having approved the disclosure statement and confirmed the amended joint reorganization plan on October 8, 2019 through the confirmation orderDkt. 825, followed by a second amended plan supplement that filed governance and restructuring-transaction documents later that month Second Amended Plan SupplementDkt. 877.

The case began after a prolonged offshore energy downturn compressed Bristow’s core oil-and-gas aviation business, contributing to a reported 40% revenue decline from those operations between fiscal 2015 and fiscal 2019. By filing, the helicopter services operator had more than $1.7 billion of funded and lease-related obligations, including $350 million of 8.75% senior secured notes, $402 million of 6.25% senior notes, $144 million of convertible notes, multiple aircraft-backed facilities, and roughly $185 million of third-party aircraft lease obligations, as described in the first-day declaration Allman First Day DeclarationDkt. 25. The same declaration ties the filing to liquidity and capital-structure pressure, including a missed April 2019 interest payment on unsecured notes, terminated Columbia Helicopters acquisition obligations, and prepetition lender waivers.

Bristow entered chapter 11 on May 11, 2019 through the voluntary petitionDkt. 1 with an RSA-centered path designed to keep operations running while deleveraging the balance sheet. The first-day declaration describes support from approximately 89% of secured noteholders, a $75 million DIP financing commitment, agreed cash-collateral use, and a $200 million new-money equity rights offering as the core restructuring package . That path matured into the , which the court confirmed shortly after the October 3 confirmation hearing through the October 8 confirmation order.