Apollo PK AirFinance has filed a claim to repossess twenty-four helicopters from bankrupt Bristow Group, Flightglobal has reported citing court documents.
The helicopters - five AW139s, five S-76s, and fourteen S-92s - are operated by Bristow Helicopters (BHL, Aberdeen Dyce), Bristow Helicopters Nigeria (BHN, Lagos), as well as in Norway and Australia.
According to the court documents, GECAS-owned PK AirFinance registered two separate claims totalling USD232 million against Bristow Group and its Cayman Islands-based asset management unit Bristow Equipment Leasing Ltd. PK AirFinance said that Bristow missed loan payments and failed to agree to meet all future obligations. Its debt is secured against the twenty-four helicopters.
For its part, Bristow Group suggested cancelling the outstanding debt and finding a new agreement regarding the helicopters.
Bristow Group has been undergoing Chapter 11 bankruptcy proceedings in the US since May 2019.
