Bristow Group Inc. Transition report pursuant to Rule 13a-10 or 15d-10

Transition report pursuant to Rule 13a-10 or 15d-10

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

9 Months Ended

Dec. 31, 2022

The Company owns a 25% voting interest and a 40% economic interest in Cougar, an aviation services provider in Canada. Due to common ownership of Cougar, the Company considers VIH Aviation Group Ltd. (“VIH”) a related party.

The Company leases certain aircraft and facilities from VIH and paid lease fees of $4.4 million, $10.0 million and $13.1 million for the nine months ended December 31, 2022, twelve months ended March 31, 2022 and twelve months ended March 31, 2021, respectively. As of December 31, 2022 and March 31, 2022, $0.8 million and $1.8 million, respectively, of accounts receivables from related party affiliates were included in accounts receivables on the consolidated balance sheets.

Revenues from related parties for the periods reflected in the table below were as follows (in thousands):


	Nine Months Ended December 31, 2022		Twelve Months Ended March 31, 2022		Twelve Months Ended March 31, 2021
Revenues from contracts with related parties	$	7,463	$	8,303	$	12,108
Other revenues from related parties	16,175		22,565		30,339
Total revenues from related parties	$	23,638	$	30,868	$	42,447