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Bristow Expects 27% EBITDA Increase Despite Supply Chain Challenges

Bristow Projects 27% EBITDA Growth Amid Persistent Supply Chain Disruptions
Bristow Group has reaffirmed its expectation of a 27% year-over-year increase in adjusted EBITDA by mid-2026, despite ongoing supply chain challenges that continue to affect the global aviation sector. During the company’s third-quarter earnings call on November 5, President and CEO Chris Bradshaw addressed these issues, emphasizing that the persistent disruptions will not derail Bristow’s anticipated financial growth.
Navigating Supply Chain Complexities
Bradshaw acknowledged that the aviation industry, and the civilian helicopter segment in particular, has faced significant supply chain difficulties over the past four years. He praised Bristow’s operational teams for their ability to maintain service levels despite delays in sourcing critical parts and components necessary for aircraft maintenance and repair. While supply constraints remain widespread, Bradshaw noted some progress in the availability of parts for the Sikorsky S-92 heavy helicopter, a model previously most affected by shortages. He described the situation as improved but still short of the company’s expectations.
The supply chain disruptions extend beyond maintenance to impact the delivery schedules of new aircraft, especially offshore-configured models such as the AW189. Bradshaw explained that the complexity of modern aviation supply chains, characterized by extensive outsourcing to numerous subcontractors and vendors, has compounded these delays. Original equipment manufacturers (OEMs) themselves are struggling to secure components on time, further complicating production timelines.
These challenges are not isolated to Bristow or the aviation industry. Similar pressures are evident across various sectors. For instance, the automotive industry is contending with supplier resilience issues, margin pressures, tariffs, and geopolitical uncertainties, as noted in analyses by Roland Berger. Competitors like Gates Industrial face supply chain and labor risks while striving to sustain growth, and broader market players such as News Corp and Escalade continue to navigate macroeconomic and international operational challenges. This wider context highlights that Bristow’s optimistic growth forecast is set against a backdrop of persistent, industry-wide headwinds.
Capacity Constraints and Strategic Outlook
Bradshaw also discussed limitations in expanding capacity, noting that production lines are shared with military orders and that manufacturing lead times have extended to approximately 24 months. Despite these constraints, he suggested that the tight supply of offshore helicopters could ultimately benefit Bristow by fostering a more favorable market outlook compared to other offshore equipment sectors.
Currently, Bristow has two categories of pending aircraft deliveries: those received from manufacturers undergoing final modifications, and helicopters still in production. Among these are five Leonardo helicopters destined for the company’s Government Services division, including two AW189s for the Irish Coast Guard and three AW139s for the United Kingdom’s new SAR2G search and rescue contract.
In spite of the ongoing supply chain and capacity challenges, Bristow’s leadership remains confident in the company’s ability to achieve robust financial performance, demonstrating resilience amid a turbulent market environment.

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