Bristow Group has entered into 12 year secured equipment financing of around $70 million with a syndicate of banks led by NatWest. The proceeds will be used to support its capital commitments related to the second generation UK search and rescue (UKSAR2G) contract with the Department for Transport and the Maritime & Coastguard Agency of the United Kingdom, namely four new AgustaWestland AW139 SAR helicopters. The credit facility has a 15 month availability period and is expected to fund during 2024, subject to delivery of the helicopters.

Bristow was awarded the UKSAR2G rotary contract back in July 2022, to work alongside 2Excel Aviation and its fixed wing fleet, and Nova Systems' mobile deployable Schiebel Camcopter S-100 UAS. Bristow will operate from its current 10 full time bases and two seasonal bases in Fort William and Carlisle.

In December 2022, Bristow agreed to purchase six AW139s, with deliveries starting last year and to be completed in 2024. They join an existing fleet of nine AW189s.

"This new credit facility further strengthens our financial position and will support a successful transition of operations to the new UKSAR2G contract," says president and CEO Chris Bradshaw. "We would like to thank our banking partners for their support of Bristow and for helping facilitate our continued growth and success."