Focus on the Customer, Plan for the Future: Bristow’s CEO Charts Course in Challenging Times
March 20, 2015
Since Bristow’s formation in the 1950s, we have shared in the oil and gas market fluctuations with our clients and shown our resilience in adapting to change. Through every downturn, one thing has remained the same: our focus on the customer.
President and CEO Jonathan Baliff, together with the rest of us at Bristow recognize the economic challenges facing our clients and plan to meet them head-on by combining cost-cutting measures and strategic investments in innovative technology and valuable partnerships.
Weathering the Storm
In today’s difficult oil and gas market, many of our clients are reducing their spending plans for 2015, aggressively cutting costs, reducing headcount and deferring capital expenditures. For the first time in recent history, the commercial helicopter sector has an excess aircraft supply as customers cancel or defer contracts. To ensure Bristow’s continued success, we are implementing a variety of measures to reduce costs by $75 million for FY 2016.
Throughout the downturn, Bristow will continue to reinforce the company’s commitment to safety, operational excellence and service to clients. “We continue to meet with our clients every day, and are working closely with them to look for greater efficiencies," says Baliff. "Our 16-point efficiency program has been well received, and both parties are discussing changes in the way we operate to an extent unseen before.” Bristow’s Target Zero Program, a safety initiative implemented in 2007, helps maintain the focus on safety and commitment to zero accidents on the job. Part of Bristow’s corporate responsibility in coming months includes our pursuit of ISO 14001 certification and our ongoing investments in training and development for employees.
Looking to the Future
Bristow will continue to make strategic purchases and develop stronger partnerships with industry leading aircraft manufacturers. Customers in demanding offshore locations need aircraft with exceptional range, cruise speed and cost-per-passenger mile, and in anticipation, Bristow announced the purchase of 17 new Airbus H175s at the recent HELI-EXPO. At the signing event in the Airbus booth, Baliff praised Airbus, saying, “Airbus took the innovative and courageous step to sign a more comprehensive airline-style support agreement, in which we proactively share risk and responsibilities for the entire lifecycle of H175 ownership. The aircraft deliveries are spread over a number of years, with cash outflows largely deferred until after the anticipated industry recovery.”
A clear vision and positive outlook have Bailiff confident in the future for employees and customers. “There will continue to be changes in the months to come,” he says, “but we will stay true to our core values and get through this together.”