Bristow Group operating loss drops to $7 million in July; revenue up

By Caroline Salls

Pittsburgh, Sept. 17 – Bristow Group Inc. reported a $7 million operating loss for July on $31 million in total revenue, according to its monthly operating report filed Tuesday with the Securities and Exchange Commission.

In comparison, Bristow posted a $7.3 million operating loss for June on $28 million in total revenue/

The net loss for July was $25.1 million, narrowing significantly from a $70.1 million June net loss.

The company had $49.3 million in cash and cash equivalents as of July 31, down from $67 million at the end of June.

Bristow is a Houston-based offshore transportation services provider to the oil and gas industry that filed bankruptcy on May 11 in the U.S. Bankruptcy Court for the Southern District of Texas. The Chapter 11 case number is 19-32713.

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