Press Release
Issued by Sikorsky, a Lockheed Martin company.
March 6, 2013
Sikorsky Aerospace Services (SAS) announced today the signing of a 10-year Total Assurance Program (TAP) agreement with Bristow Group Inc. for continued support of its S-92™ helicopter fleet. Bristow is among the leading providers of helicopter services to the worldwide offshore energy industry. Valued at more than $840 million, the agreement is a renewal of a current standing contract that is expiring after a seven-year term. The agreement was reached late in the 4th Quarter 2012 but not publicly announced until today. Sikorsky Aerospace Services is the worldwide aftermarket business of Sikorsky Aircraft, a wholly owned subsidiary of United Technologies Corp. (NYSE: UTX).
"We're very pleased to continue strengthening our longstanding relationship with Bristow. In today's challenging aviation service industry, this customized support program simplifies management of material logistics, and avoids the uncertainty associated with unpredicted and unbudgeted material costs," said David Adler, president of Sikorsky Aerospace Services. "SAS helps each customer make the best decision for optimal support and service solutions. Through these types of tailored support programs, operators like Bristow are better able to control their costs and eliminate spikes in their operational expenses."
Available to worldwide commercial and military operators of S-76®, S-92™ and S-70™ helicopters, the TAP program is uniquely configured to meet each customer's requirements. TAP covers up to 98 percent of the cost of parts replacement including airframe, drive train, gearboxes, avionics and consumable parts. Contributing to improved aircraft performance as well as enhanced resale value, the TAP program provides customers with Original Equipment Manufacturer approved parts produced to the latest drawings – backed by Sikorsky's stringent quality system and worldwide distribution network.
"The strength and trust in our relationship with Sikorsky has allowed this long-term TAP support contract to be executed. This support contract provides us with a competitive cost certainty for the next 10 years with a partner that has proven to be reliable, responsive and flexible in supporting our global operations," stated Mark Duncan, Senior Vice President, Commercial, for the 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. Bristow 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.
