US group Bristow will invest US$142m in five new helicopters for its €800m search and rescue contract with the Irish government.
The Court of Appeal recently upheld the High Court’s decision to lift the suspension on awarding the search and rescue contract to Bristow, despite a legal challenge from incumbent CHC.
Bristow highlighted in a presentation that search and rescue contracts offer higher profit margins compared to contracts servicing offshore energy assets, such as oil and gas platforms.
