BRISTOW MOVES INTO 'NEXT NORTH SEA'

Bristow Group has acquired 42.5% of Lider Aviacao, Brazil's largest provider of helicopter and executive aviation services.

Lider's 46-helicopter operation handles 50% of Brazil's oil and gas industry market. It also has 29 charter aircraft. Lider generated $305 million in revenue and a net loss of $17 million in 2008, but turned a $6.9 million profit in the first quarter this year.

Bristow chief executive William Chiles says: "We view Brazil as the next 'North Sea' in terms of its potential for growth in offshore services," adding that Bristow will lease aircraft to Lider as needed.