Who Wants AirNorth?

Written by on 07/08/2019

GARY SHIPWAY, NT News

DARWIN-based airline Airnorth is reportedly up for sale with first round bids due this week.

An Australian Financial Review report says Airnorth’s owner US-based Bristow Group has bankers offering the company for sale.

The AFR is reporting the US-based Bristow Group, has had boutique corporate adviser Allier Capital pitching the business to potential buyers, “spruiking its $100 million or so a year revenue and potential to be part of a bigger network”.

Bristow Group announced on May 13 that it had voluntarily filed for legal protection of its US and Cayman Island entities in the US Bankruptcy Court so it could restructure its balance sheet to alleviate debt and continue to operate.

Airnorth was not included in the bankruptcy action and continues to operate in a business-as-usual scenario.

Australia’s largest independent regional airline, Regional Express (Rex), is being touted as a potential buyer.


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