Sikorsky and Bristow Group Forge Strategic Long-Term Partnership
Industry leaders Sikorsky, a Lockheed Martin company (NYSE: LMT), and Bristow Group Inc. (NYSE: VTOL) are set to reshape the aviation landscape with a multi-year agreement aimed at enhancing support for Bristow's extensive S-92 helicopter fleet.
Enhancing Global Helicopter Operations
This agreement marks a significant milestone in the ongoing collaboration between the two companies. It provides strong support for Bristow's fleet of over 60 S-92 helicopters, crucial for operations in various markets, including offshore energy and search and rescue missions. The comprehensive support package extends well into the next decade and is designed to optimize operational budgets for Bristow.
Comprehensive Assurance Program
Included in this deal is Sikorsky's Total Assurance Program (TAP), which assures Bristow of steadfast aftermarket support that allows the operation of its S-92 fleet without unexpected costs. This proactive approach helps in mitigating risks associated with helicopter maintenance.
Statements from Leadership
Leon Silva, vice president of Global Commercial and Military Systems at Sikorsky, expressed pride in the partnership. He stated, "We are proud to continue our long-standing relationship with Bristow, one of the world's leading providers of helicopter services to the offshore energy industry. With an availability average of over 90%, the S-92 is designed for demanding operational environments, and we ensure that our customers receive unparalleled support."
In a similar vein, Stu Stavley, Bristow's Chief Operating Officer, emphasized the importance of this agreement. He pointed out, "Bristow is the largest operator of the S-92 globally. This long-term support agreement will enable us to maintain our high level of service to our customers while controlling operational costs and enhancing our efficiency levels. The partnership allows us to better serve our diverse clientele in the offshore energy sector."
Support Provisions under TAP
The TAP package includes vital support features tailored for Bristow's operations:
- A Power-by-the-Hour (PBH) agreement aiding in offshore energy services and search and rescue helicopters;
- Coverage for over 90% of replacement costs for parts, including airframe and avionics;
- Enhanced support through access to Sikorsky's global forward stocking locations and field service representatives;
- Entry to the Sikorsky360 customer portal, facilitating order placements, parts status checks, and aircraft data management.
Innovative Advancements for the S-92
This agreement underscores Sikorsky's commitment to the commercial sector and the S-92 platform. Recently, Sikorsky introduced an upgraded S-92 Phase IV gearbox which features an auxiliary lubrication system. This system activates during primary oil pressure loss, allowing aircraft to safely reach destinations without immediate landing, enhancing safety in critical situations.
Sikorsky has also lengthened the scheduled inspection intervals for the S-92 helicopter, mitigating downtime significantly. This extension can potentially add over a year of operational time for helicopter operators, translating into increased revenue generation opportunities.
Conclusion and Future Commitment
The collaboration between Sikorsky and Bristow Group signifies a promising future for the S-92 helicopter program, aimed at addressing the evolving demands in aviation. Ensuring that these helicopters receive full support is crucial in maintaining safety, efficiency, and operational excellence in the offshore oil and gas sectors.
Frequently Asked Questions
What is the nature of the agreement between Sikorsky and Bristow Group?
The agreement is a long-term commitment to enhance support for Bristow's S-92 helicopter fleet, ensuring optimal operations and cost management.
What does the Total Assurance Program (TAP) offer?
TAP provides aftermarket support, including cost management and access to essential services, allowing operators to focus on missions without unexpected expenses.
How does the new gearbox improve S-92 operations?
The Phase IV gearbox contains an auxiliary lubrication system that engages during oil pressure loss, enhancing safety and allowing flights to safely reach their destinations.
How long is the agreement expected to last?
The agreement is structured to extend well into the next decade, reflecting a strong partnership between the two companies.
Why is this partnership significant for offshore energy services?
This partnership supports efficient and reliable transportation solutions for offshore energy companies, which rely heavily on helicopter services for personnel and equipment transport.
