Bristow Group (VTOL) Stock Analysis & Winston Score

Bristow Group flies helicopters and other aircraft to move workers and cargo to hard-to-reach places, mainly offshore oil and gas platforms in the middle of the ocean. Its main customers are large energy companies that need a safe, reliable way to transport crews to drilling rigs and production platforms. Bristow is one of the largest offshore helicopter services companies in the world and also provides search and rescue services under government contracts. The company earns money by charging energy companies and governments for flight hours and long-term service contracts. It operates across multiple continents, including the Gulf of Mexico, the North Sea, West Africa, and Australia. Its large fleet, established safety record, and long-term contracts create some switching costs, but the business is closely tied to offshore oil and gas spending — if energy companies cut exploration budgets, demand for Bristow's flights drops quickly.