Bristow Helicopters Australia, an affiliate of the US-based Bristow Group, has bought a controlling 85 per cent stake in Australian regional carrier and Qantas codeshare partner Airnorth.
Bristow Group said in a regulatory filing to the US Securities and Exchange Commission it paid A$30.3 million cash for the majority stake in Airnorth, with a further A$17 million due over the following three years if certain financial targets were met.
Airnorth chief executive Michael Bridge says the airline will keep its name and brand identity following the deal and there would be no interruption to services.
Moreover, all Airnorth staff are being retained.
Bristow Group said in a regulatory filing to the US Securities and Exchange Commission it paid A$30.3 million cash for the majority stake in Airnorth, with a further A$17 million due over the following three years if certain financial targets were met.
Airnorth chief executive Michael Bridge says the airline will keep its name and brand identity following the deal and there would be no interruption to services.
Moreover, all Airnorth staff are being retained.