Bristow Group Inc. (VTOL) SEC Filings & Earnings Calls

Fuel cost volatility

“Fuel 33,328 (Q2 2026) vs 20,399 (Q2 2025)”

Aircraft retirement depreciation impact

“additional depreciation expense of $ 13.6 million during the six months ended June 30, 2026” · word for word

Supply chain disruptions

“significant delays in the delivery of parts for our S92 and AW189 fleet and aircraft in general” · word for word

Customer concentration

“our reliance on a limited number of customers and the reduction of our customer base as a result of consolidation and/or the energy transition” · word for word

Extensive risk factors but no specific new risks identified.

“Standard risk factors listed in cautionary statement.”

Integration risk and execution risk for closing in H2 2026.

“Closing subject to customary conditions; expected H2 2026.”

Accelerated depreciation from fleet retirement

“The Company revised the estimated useful life of this specific aircraft model to reflect a shorter useful life, which resulted in additional depreciation expense of $6.4 million during the three months ended March 31, 2026. The Company expects to recognize approximately $20.0 million of additional depreciation expense during the remainder of 2026 and approxi” · word for word

Fuel price volatility and supply disruption

“Significant disruptions in the supply of aircraft fuel could have an adverse impact on our operating results and financial condition... we are currently experiencing increased fuel prices due to the ongoing conflict in Iran.” · word for word

Customer concentration in offshore energy

“Our reliance on a limited number of customers and the reduction of our customer base as a result of consolidation and/or the energy transition.” · word for word

Supply chain constraints for aircraft parts

“Our reliance on a limited number of helicopter manufacturers and suppliers and the impact of a shortfall in availability of aircraft components and parts required for maintenance and repairs of our helicopters, including significant delays in the delivery of parts for our S92 and AW189 fleet and aircraft in general.” · word for word

Extensive risk factors disclosed including supply chain disruptions, inflation, fuel prices, customer concentration, geopolitical risks, and regulatory changes

“Cautionary statement lists numerous risks: supply chain disruptions, inflation, increased fuel prices, reliance on limited number of helicopter manufacturers and suppliers, customer consolidation, energy transition, cyberattacks, etc.”

Labor cost pressure from unionized workforce

“As of December 31, 2025, approximately 60% of our employees were covered by union or other collective bargaining agreements. Negotiations over annual salary or other labor matters could result in higher personnel or other costs or increased operational restrictions or disruptions.” · word for word

Competition for pilots and engineers

“The competition for pilots and engineers is steep, and we compete with major Part 121 air carriers, such as commercial airlines, and the emergency air medical industry to attract and retain such talent.” · word for word

Aviation safety incident risk

“Aviation services are potentially hazardous and may result in incidents or accidents. Challenges to safe operations include unanticipated adverse weather conditions, impact with fixed or stationary objects, winch operations, human factors, and mechanical failures that may result in death or injury, damage to equipment, and other environmental or property dam” · word for word

Fuel cost and environmental regulation exposure

“98% of which comes from aviation fuel... Recognizing that the aviation industry has a significant role to play in mitigating the effects of climate change” · word for word

Dependence on government contracts (SAR)

“We continued transition efforts with respect to both the Irish Department of Transport contract to deliver SAR aviation services on behalf of the Irish Coast Guard ("IRCG") and the Second-Generation SAR Aviation ("UKSAR2G") contract with the Maritime and Coastguard Agency” · word for word

Potential disruption in Government Services segment leadership during transition.

“Mr. Corbett intends to retire from his position effective the end of this year. The Company has begun searching for his successor.”

Supply chain disruption for S92 parts

“We have experienced significant delays in the delivery of parts for our S92 fleet, which comprises approximately 29% of our total fleet, resulting in the need to (i) purchase or otherwise acquire parts from other sources and (ii) ground multiple S92 aircraft and forgo certain related business opportunities.” · word for word

Foreign exchange and repatriation risk

“A strengthening U.S. dollar adversely affects the profitability of providing such services, and therefore could have an adverse effect on our financial condition and results of operations.” · word for word

Concentration in North Sea and U.S. Gulf of America

“The North Sea and the U.S. Gulf of America are mature exploration and production regions that have undergone substantial seismic survey, exploration and production activity for many years.” · word for word

Customer concentration and credit risk

“We generated approximately 66% of our consolidated revenues from Offshore Energy Services during the year ended December 31, 2025, and the majority of our customers are engaged in offshore energy production, exploration and development.” · word for word

Labor union renegotiation risk

“As of December 31, 2025, approximately 60% of our employees were covered by union or other collective bargaining agreements, some of which have expired or will expire in one year or less.” · word for word

Higher interest cost on new notes (6.750% vs 6.875% on redeemed notes) but extended maturity.

“6.750% senior secured notes due 2033 replace 6.875% notes due 2028.” · word for word

High exposure to oil and gas demand fluctuations and supply chain disruptions.

“global and regional changes in the demand, supply, prices or other market conditions affecting oil and gas” · word for word

Reliance on limited helicopter manufacturers and parts availability poses operational risk.

“reliance on a limited number of helicopter manufacturers and suppliers and the impact of a shortfall in availability of aircraft components” · word for word

Supply chain disruption

“The impact of supply chain disruptions and inflation and our ability to recoup rising costs in the rates we charge to our customers.” · word for word

Customer concentration

“Our reliance on a limited number of customers and the reduction of our customer base as a result of consolidation and/or the energy transition.” · word for word

Helicopter manufacturer dependency

“Our reliance on a limited number of helicopter manufacturers and suppliers and the impact of a shortfall in availability of aircraft components and parts required for maintenance and repairs of our helicopters, including significant delays in the delivery of parts for our S92 and AW189 fleet and aircraft in general.” · word for word