Bristow (VTOL) 10-Q 4 Nov 21 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Sep. 30, 2021	Oct. 29, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-35701
Entity Registrant Name	Bristow Group Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	72-1455213
Entity Address, Address Line One	3151 Briarpark Drive, Suite 700
Entity Address, City or Town	Houston,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77042
City Area Code	713
Local Phone Number	267-7600
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	VTOL
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Bankruptcy Proceedings, Reporting Current	true
Entity Common Stock, Shares Outstanding		28,264,765
Entity Central Index Key	0001525221
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--03-31
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue:
Revenue		$ 301,584	$ 304,640	$ 602,186	$ 574,833
Costs and expenses:
General and administrative expenses		38,970	39,613	76,453	75,007
Merger-related costs		647	4,497	2,382	21,917
Restructuring costs		117	13,326	968	16,336
Depreciation and amortization		17,644	18,537	40,839	34,893
Total costs and expenses		287,334	303,174	577,215	571,557
Loss on impairment		(2,901)	(17,596)	(24,835)	(36,829)
Gain (loss) on disposal of assets		162	(8,473)	661	(2,951)
Earnings (losses) from unconsolidated affiliates, net		964	1,948	(553)	(30)
Operating income (loss)		12,475	(22,655)	244	(36,534)
Interest income		42	434	108	696
Interest expense		(10,426)	(13,445)	(21,050)	(25,949)
Loss on extinguishment of debt		(124)	0	(124)	(615)
Reorganization items, net		(103)	0	(549)	0
Loss on sale of subsidiaries		0	0	(2,002)	0
Change in fair value of preferred stock derivative liability		0	0	0	15,416
Gain on bargain purchase		0	5,660	0	81,093
Other, net		15,330	10,592	21,514	14,593
Total other income (expense), net		4,719	3,241	(2,103)	85,234
Income (loss) before income taxes		17,194	(19,414)	(1,859)	48,700
Income tax expense		(14,484)	(8,578)	(9,642)	(5,288)
Net income (loss)		2,710	(27,992)	(11,501)	43,412
Net loss attributable to noncontrolling interests		65	131	79	204
Net income (loss) attributable to Bristow Group Inc.		$ 2,775	$ (27,861)	$ (11,422)	$ 43,616
Income (loss) per common share:
Basic (in dollars per share)	[1]	$ 0.10	$ (0.95)	$ (0.40)	$ 8.73
Diluted (in dollars per share)	[1]	$ 0.10	$ (0.95)	$ (0.40)	$ 5.09
Weighted average common shares outstanding:
Basic (in shares)	[1]	28,233,527	29,357,959	28,844,633	20,230,285
Diluted (in shares)	[1]	28,684,660	29,357,959	28,844,633	34,031,657
Service
Revenue:
Revenue		$ 290,120	$ 295,722	$ 578,471	$ 557,230
Costs and expenses:
Operating expenses		218,768	218,282	433,271	405,837
Reimbursable
Revenue:
Revenue		11,464	8,918	23,715	17,603
Costs and expenses:
Operating expenses		$ 11,188	$ 8,919	$ 23,302	$ 17,567
[1]	See Note 9 to the condensed consolidated financial statements for details on prior year income (loss) per share and weighted average common shares outstanding.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 2,710	$ (27,992)	$ (11,501)	$ 43,412
Other comprehensive income (loss):
Currency translation adjustments	(15,683)	15,326	(14,411)	18,485
Pension liability adjustment, net	922	0	873	0
Unrealized gain (loss) on cash flow hedges, net	1,609	(1,283)	2,552	(2,164)
Total comprehensive income (loss)	(10,442)	(13,949)	(22,487)	59,733
Net comprehensive loss attributable to noncontrolling interests	65	131	79	204
Total comprehensive income (loss) attributable to Bristow Group Inc.	$ (10,377)	$ (13,818)	$ (22,408)	$ 59,937

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Current assets:
Cash and cash equivalents	$ 236,989	$ 228,010
Restricted cash	2,492	3,069
Accounts receivable, net of allowance for doubtful accounts of $2,506 and $2,300 as of September 30 and March 31, 2021, respectively	196,292	215,620
Inventories	87,855	92,180
Assets held for sale	5,432	14,750
Prepaid expenses and other current assets	30,419	32,119
Total current assets	559,479	585,748
Property and equipment	1,082,076	1,090,094
Accumulated depreciation and amortization	(120,474)	(85,535)
Property and equipment, net	961,602	1,004,559
Investment in unconsolidated affiliates	20,146	37,530
Right-of-use assets	211,878	246,667
Other assets	108,131	117,766
Total assets	1,861,236	1,992,270
Current liabilities:
Accounts payable	60,081	69,542
Accrued wages, benefits and related taxes	44,764	58,595
Income taxes payable and other accrued taxes	18,722	19,972
Deferred revenue	12,988	13,598
Accrued maintenance and repairs	32,536	26,907
Current portion of operating lease liabilities	72,394	77,909
Accrued interest and other accrued liabilities	24,458	22,632
Short-term borrowings and current maturities of long-term debt	13,180	15,965
Total current liabilities	279,123	305,120
Long-term debt, less current maturities	518,635	527,528
Accrued pension liabilities	33,654	44,150
Other liabilities and deferred credits	6,668	6,681
Deferred taxes	44,413	42,430
Long-term operating lease liabilities	139,744	167,718
Total liabilities	1,022,237	1,093,627
Commitments and contingencies (Note 10)
Redeemable noncontrolling interests	0	1,572
Stockholders’ equity:
Common stock, $0.01 par value, 110,000,000 authorized; 28,302,220 and 29,694,071 outstanding as of September 30 and March 31, 2021, respectively	303	303
Additional paid-in capital	692,702	687,715
Retained earnings	215,589	227,011
Treasury shares, at cost; 1,967,769 and 466,700 shares as of September 30 and March 31, 2021, respectively	(51,083)	(10,501)
Accumulated other comprehensive loss	(17,901)	(6,915)
Total Bristow Group Inc. stockholders’ equity	839,610	897,613
Noncontrolling interests	(611)	(542)
Total stockholders’ equity	838,999	897,071
Total liabilities and stockholders’ equity	$ 1,861,236	$ 1,992,270

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 2,506	$ 2,300
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	110,000,000	110,000,000
Common stock, shares outstanding (in shares)	28,302,220	29,694,071
Treasury stock (in shares)	1,967,769	466,700

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ 2,710	$ (27,992)	$ (11,501)	$ 43,412
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization			46,959	45,675
Deferred income taxes			2,858	(1,345)
Loss from extinguishment of debt			124	615
Bad debt expense			309	0
Amortization of deferred financing fees			636	0
Discount amortization on long-term debt			3,963	7,957
Loss (gain) on disposal of assets	(162)	8,473	(661)	2,951
Loss on impairment	2,901	17,596	24,835	36,829
Loss on sale of subsidiaries	0	0	2,002	0
Gain on bargain purchase	0	(5,660)	0	(81,093)
Change in fair value of preferred stock derivative liability	0	0	0	(15,416)
Stock-based compensation			4,987	7,192
Equity in earnings from unconsolidated affiliates less than dividends received			553	2,935
Increase (decrease) in cash resulting from changes in:
Accounts receivable			17,801	21,556
Inventory, prepaid expenses and other assets			1,448	(8,075)
Accounts payable, accrued expenses and other liabilities			(21,119)	(28,202)
Net cash provided by operating activities			73,194	34,991
Cash flows from investing activities:
Capital expenditures			(17,306)	(7,372)
Proceeds from asset dispositions	3,188	40,475	13,809	52,140
Deposits on assets held for sale	0	3,437	0	3,437
Cash transferred in sale of subsidiaries, net of cash received			(851)	0
Increase in cash from Era merger			0	120,236
Net cash provided by (used in) investing activities			(4,348)	168,441
Cash flows from financing activities:
Debt issuance costs			(2,708)	0
Repayment of debt and debt redemption premiums			(12,479)	(85,369)
Purchase of treasury shares			(40,582)	(6,428)
Old Bristow share repurchases			0	(4,807)
Net cash used in financing activities			(55,769)	(96,604)
Effect of exchange rate changes on cash, cash equivalents and restricted cash			(4,676)	(1,756)
Net increase in cash, cash equivalents and restricted cash			8,401	105,072
Cash, cash equivalents and restricted cash at beginning of period			231,079	199,121	$ 199,121
Cash, cash equivalents and restricted cash at end of period	$ 239,480	$ 304,193	239,480	304,193	$ 231,079
Cash paid during the period for:
Interest			16,369	14,467
Income taxes			$ 8,539	$ 7,726

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands		Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Noncontrolling Interests
Redeemable Noncontrolling Interest, Beginning balance at Mar. 31, 2020		$ 0
Mezzanine Equity Preferred Stock, Beginning balance at Mar. 31, 2020		149,785
Redeemable Noncontrolling Interests And Mezzanine equity preferred stock
Share repurchases		(2,151)
Preferred stock share conversion		(146,448)
Preferred stock compensation activity and conversion		(1,186)
Redeemable Noncontrolling Interest, Ending balance at Jun. 30, 2020		0
Mezzanine Equity Preferred Stock, Ending balance at Jun. 30, 2020		0
Beginning balance at Mar. 31, 2020		426,216	$ 1	$ 295,897	$ 139,228	$ (8,641)	$ 0	$ (269)
Beginning balance (in shares) at Mar. 31, 2020	[1]		11,235,566
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share repurchases (in shares)	[1]		(142,721)
Share repurchases		1,263			1,263
Preferred stock share conversion		413,296	$ 4	270,678	142,614
Preferred stock share conversion (in shares)	[1]		34,836,688
Elimination of Old Bristow stock		0	$ (5)	5
Elimination of Old Bristow stock (in shares)	[1]		(45,929,533)
Exchange of common stock		0	$ 231	(231)
Exchange of common stock (in shares)	[1]		23,026,894
Era purchase price		108,340	$ 72	108,268
Era purchase price (in shares)	[1]		7,175,029
Preferred stock compensation activity and conversion		6,370		6,370
Purchase of Company common stock (tax withholding) (in shares)	[1]		(42,199)
Currency translation adjustments		13						13
Net income (loss)		71,404			71,477			(73)
Other comprehensive income (loss)		2,278				2,278
Ending balance at Jun. 30, 2020		1,029,180	$ 303	680,987	354,582	(6,363)	0	(329)
Ending balance (in shares) at Jun. 30, 2020	[1]		30,159,724
Redeemable Noncontrolling Interests And Mezzanine equity preferred stock
Era purchase price adjustment		1,501
Net loss		(18)
Redeemable Noncontrolling Interest, Ending balance at Sep. 30, 2020		1,483
Mezzanine Equity Preferred Stock, Ending balance at Sep. 30, 2020		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share award amortization		2,008		2,008
Purchase of treasury shares (in shares)	[1]		(345,757)
Purchase of treasury shares		(7,579)					(7,579)
Era purchase price		395		395
Era purchase price (in shares)	[1]		(233)
Currency translation adjustments		(14)						(14)
Net income (loss)		(27,974)			(27,861)			(113)
Other comprehensive income (loss)		14,043				14,043
Ending balance at Sep. 30, 2020		1,010,059	$ 303	683,390	326,721	7,680	(7,579)	(456)
Ending balance (in shares) at Sep. 30, 2020	[1]		29,813,734
Redeemable Noncontrolling Interest, Beginning balance at Mar. 31, 2021		1,572
Mezzanine Equity Preferred Stock, Beginning balance at Mar. 31, 2021		1,572
Redeemable Noncontrolling Interests And Mezzanine equity preferred stock
Sale of noncontrolling interest		(1,572)
Redeemable Noncontrolling Interest, Ending balance at Jun. 30, 2021		0
Beginning balance at Mar. 31, 2021		$ 897,071	$ 303	687,715	227,011	(6,915)	(10,501)	(542)
Beginning balance (in shares) at Mar. 31, 2021		29,694,071	29,694,071,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share award amortization (in shares)			48,851,000
Share award amortization		$ 2,326		2,326
Stock repurchased (in shares)			(936,567,000)
Share repurchases		(25,199)					(25,199)
Currency translation adjustments		5						5
Net income (loss)		(14,211)			(14,197)			(14)
Other comprehensive income (loss)		2,166				2,166
Ending balance at Jun. 30, 2021		862,158	$ 303	690,041	212,814	(4,749)	(35,700)	(551)
Ending balance (in shares) at Jun. 30, 2021			28,806,355,000
Redeemable Noncontrolling Interest, Beginning balance at Mar. 31, 2021		1,572
Mezzanine Equity Preferred Stock, Beginning balance at Mar. 31, 2021		1,572
Redeemable Noncontrolling Interest, Ending balance at Sep. 30, 2021		0
Mezzanine Equity Preferred Stock, Ending balance at Sep. 30, 2021		0
Beginning balance at Mar. 31, 2021		$ 897,071	$ 303	687,715	227,011	(6,915)	(10,501)	(542)
Beginning balance (in shares) at Mar. 31, 2021		29,694,071	29,694,071,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchase of treasury shares (in shares)		(1,480,804)
Purchase of treasury shares		$ (40,000)
Other comprehensive income (loss)						(10,986)
Ending balance at Sep. 30, 2021		$ 838,999	$ 303	692,702	215,589	(17,901)	(51,083)	(611)
Ending balance (in shares) at Sep. 30, 2021		28,302,220	28,302,220,000
Redeemable Noncontrolling Interest, Beginning balance at Jun. 30, 2021		$ 0
Redeemable Noncontrolling Interest, Ending balance at Sep. 30, 2021		0
Mezzanine Equity Preferred Stock, Ending balance at Sep. 30, 2021		0
Beginning balance at Jun. 30, 2021		862,158	$ 303	690,041	212,814	(4,749)	(35,700)	(551)
Beginning balance (in shares) at Jun. 30, 2021			28,806,355,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share award amortization (in shares)			60,367,000
Share award amortization		2,661		2,661
Stock repurchased (in shares)			(564,502,000)
Share repurchases		$ (15,383)					(15,383)
Purchase of treasury shares (in shares)		(547,596)
Purchase of treasury shares		$ (14,900)
Currency translation adjustments		5						5
Net income (loss)		2,710			2,775			(65)
Other comprehensive income (loss)		(13,152)				(13,152)
Ending balance at Sep. 30, 2021		$ 838,999	$ 303	$ 692,702	$ 215,589	$ (17,901)	$ (51,083)	$ (611)
Ending balance (in shares) at Sep. 30, 2021		28,302,220	28,302,220,000
[1]	Certain shares were reclassified out of common stock issued and into un-issued.

BASIS OF PRESENTATION, CONSOLID

BASIS OF PRESENTATION, CONSOLIDATION AND ACCOUNTING POLICIES	6 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION, CONSOLIDATION AND ACCOUNTING POLICIES	BASIS OF PRESENTATION, CONSOLIDATION AND ACCOUNTING POLICIES Basis of Presentation The condensed consolidated financial statements include the accounts of Bristow Group Inc. and its consolidated entities. On January 23, 2020, Era Group Inc. (“Era”), Ruby Redux Merger Sub, Inc., a wholly owned subsidiary of Era (“Merger Sub”) and Bristow Group Inc. (“Old Bristow”) entered into an Agreement and Plan of Merger, as amended on April 22, 2020 (the “Merger Agreement”). On June 11, 2020, the merger (the “Merger”) contemplated by the Merger Agreement was consummated and Merger Sub merged with and into Old Bristow, with Old Bristow continuing as the surviving corporation and as a direct wholly owned subsidiary of Era. Following the Merger, Era changed its name to Bristow Group Inc., and Old Bristow changed its name to Bristow Holdings U.S. Inc. Unless the context otherwise indicates, in this Quarterly Report on Form 10-Q, references to: • the “Company”, “Combined Company,” “Bristow”, “we”, “us” and “our” refer to the entity currently known as Bristow Group Inc. and formerly known as Era Group Inc., together with all of its current subsidiaries; • “Old Bristow” refers to the entity formerly known as Bristow Group Inc. and now known as Bristow Holdings U.S. Inc., together with its subsidiaries prior to the consummation of the Merger; and • “Era” refers to Era Group Inc. (currently known as Bristow Group Inc., the parent of the Combined Company) and its subsidiaries prior to consummation of the Merger. Pursuant to the United States (“U.S.”) generally accepted accounting principles (“GAAP”), the Merger was accounted for as an acquisition by Old Bristow of Era even though Era was the legal acquirer and remained the ultimate parent of the Combined Company. As a result, upon the closing of the Merger, Old Bristow’s historical financial statements replaced Era’s historical financial statements for all periods prior to the completion of the Merger, and the financial condition, results of operations, comprehensive income and cash flows of Era have been included in those financial statements since June 12, 2020. Any reference to comparative period disclosures in the Quarterly Report on Form 10-Q refers to Old Bristow. The Company’s fiscal year ends March 31, and fiscal years are referenced based on the end of such period. Therefore, the fiscal year ending March 31, 2022 is referred to as “fiscal year 2022”. The condensed consolidated financial information for the three and six months ended September 30, 2021 and September 30, 2020 has been prepared by the Company in accordance with GAAP and pursuant to the rules and regulations of the SEC for interim financial information reporting on Quarterly Form 10-Q and Regulation S-X. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from that which would appear in the annual consolidated financial statements. These condensed consolidated financial statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2021, filed with the Securities and Exchange Commission (the “SEC”) on May 27, 2021. The preparation of these financial statements and accompanying footnotes requires the Company to make estimates and assumptions; however, they include all adjustments of a normal recurring nature which, in the opinion of management, are necessary for a fair presentation of the condensed consolidated balance sheet, the condensed consolidated statements of operations and comprehensive loss, the condensed consolidated statements of cash flows and the condensed consolidated statements of changes in stockholders equity. Operating results for the interim period presented are not necessarily indicative of the results that may be expected for the entire fiscal year. The condensed consolidated financial information found on this Quarterly Form 10-Q has not been audited by the Company’s independent registered public accounting firm. Basis of Consolidation The consolidated financial statements include the accounts of Bristow Group Inc., its wholly and majority-owned subsidiaries and entities that meet the criteria of variable interest entities (“VIEs”) of which the Company is the primary beneficiary. All significant inter-company accounts and transactions are eliminated in consolidation. Summary of Significant Accounting Policies and Other Accounting Considerations Reclassifications — Certain amounts reported for prior periods in the consolidated financial statements have been reclassified to conform with the current period’s presentation. Sale of Subsidiary — During the six months ended September 30, 2021, the Company sold its 75% interest in Hauser Investments Limited (“Hauser”), which owns 100% of Sicher Helicopters SAS (“Sicher”), a provider of helicopter services to Colombia’s oil and gas market. The sale resulted in a $2.0 million loss included in loss on sale of subsidiaries on the condensed consolidated statement of operations. Investment in Unconsolidated Affiliates — The Company has a 25% economic interest in Petroleum Air Services (“PAS”), an Egyptian corporation that provides helicopter and fixed wing transportation to the offshore energy industry and other general aviation services in Egypt. During the six months ended September 30, 2021, upon evaluating its investment in PAS, the Company identified an indicator for impairment due to a decline in PAS’s performance. As a result, the Company performed a fair valuation of its investment in PAS using a market approach that relied on significant Level III inputs due to the nature of unobservable inputs that required significant judgment and assumptions. The market approach utilized two methods, each yielding similar valuation outcomes through the use of a multiple relevant to each method, derived from select guideline public companies, and an expected dividend rate or earnings of PAS. This resulted in a $16.0 million loss on impairment recorded during the six months ended September 30, 2021. As of September 30, 2021, the investment in PAS was $17.0 million and is included on the condensed consolidated balance sheets in investment in unconsolidated affiliates. PAS is a cost method investment. Recent Accounting Pronouncements The Company considers the applicability and impact of all accounting standard updates (“ASUs”). ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the Company’s consolidated financial position or results of operations. Adopted In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform” (Topic 848). The guidance is intended to provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The standard was effective beginning in fiscal year 2022 for the Company. Adoption of this accounting standard had no material impact to the Company’s financial statements. In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes” (Topic 740), new guidance to simplify the accounting for income taxes, which eliminates certain exceptions for recognizing deferred taxes for investments, performing intraperiod allocation and calculating income taxes in interim periods. This standard also included guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. The standard was effective beginning in fiscal year 2022 for the Company. Adoption of this accounting standard had no material impact to the Company’s financial statements. Not Yet Adopted In May 2021, the FASB issued ASU Update No. 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40). The purpose of this update is to clarify and reduce diversity in practice for the accounting of certain modifications or exchanges of equity written call options. Under the guidance, an issuer determines

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	6 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
BUSINESS COMBINATIONS	BUSINESS COMBINATIONS Era Group Inc. On June 11, 2020, the combination of Old Bristow with Era was successfully completed in an all-stock transaction with Era having issued shares of common stock (“Combined Company Common Stock”) to Old Bristow’s stockholders in exchange for such holders shares of common stock in Old Bristow. The transaction was accounted for using the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805, Business Combinations (“ASC 805”). In the Merger, Old Bristow merged with and into Merger Sub, a subsidiary of Era, with Old Bristow remaining as the surviving company and as a subsidiary of Era, the ultimate parent of the Combined Company. Era is one of the largest helicopter operators in the world and the longest serving helicopter transport operator in the U.S., primarily servicing offshore energy installations. The transaction was structured as an all-stock, reverse-triangular merger, whereby Era issued shares of Combined Company Common Stock to Old Bristow stockholders, allowing it to qualify as a tax free reorganization for U.S. federal income tax purposes. Following the Merger, Era changed its name to Bristow Group Inc., and the Combined Company Common Stock continued to trade on the NYSE under the new ticker symbol VTOL. While Era was the legal acquirer in the Merger, Old Bristow was determined to be the accounting acquirer, based upon the terms of the Merger and other considerations including that: (i) immediately following completion of the Merger, Old Bristow stockholders owned approximately 77% of the outstanding shares of Combined Company Common Stock and pre-Merger holders of Era common stock (“Era Common Stockholders”) owned approximately 23% of the outstanding shares of Combined Company Common Stock and (ii) the board of directors of the Company consisted of eight directors, including six Old Bristow designees. The Merger was accounted for under the acquisition method of accounting under ASC 805, Business Combinations. The acquisition method of accounting requires, among other things, that assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date. The Company completed its assessment of the fair value of assets acquired and liabilities assumed within the required one-year period from the date of acquisition. Management recorded the acquired aircraft at an aggregate fair value of $179.9 million. Based upon the illiquid state of the secondary market, relevant and reliable market data for the Era fleet was not readily available. As a result, the Company derived the fair value of the Era fleet of aircraft from the estimated enterprise value of Era, using the discounted cash flow method of the income approach. The estimated enterprise value of Era was made using principal assumptions such as forecasted revenues and discount rate. All non-aircraft acquired assets and assumed liabilities were valued at fair value, which based upon their nature were more readily determinable. After allocating fair values to all the non-aircraft acquired assets and assumed liabilities, the remaining value was attributed to the aircraft. The acquisition date fair value of the consideration transferred consisted of the following (in thousands): Fair value of Combined Company Common Stock issued (1) $ 106,440 Fair value of accelerated stock awards (2) 2,067 Fair value of exchanged stock awards (3) 228 Total consideration transferred $ 108,735 Fair value of redeemable noncontrolling interest 1,501 Total fair value of Era $ 110,236 ___________________________ (1) Represents the fair value of Combined Company Common Stock retained by Era Common Stockholders based on the closing market price of Era shares on June 11, 2020, the acquisition date. (2) Represents the fair value of restricted share awards of Combined Company Common Stock held by Era employees that were accelerated upon consummation of the Merger. (3) Represents the fair value of restricted share awards of Combined Company Common Stock held by Era employees relating to the pre-Merger vesting period. The following table summarizes the fair values of assets acquired and liabilities assumed as of the date of acquisition, June 11, 2020 (in thousands): Assets acquired: Cash and cash equivalents $ 120,236 Accounts receivable from non-affiliates 35,079 Prepaid expenses and other current assets 17,598 Inventories 8,826 Property and equipment 223,256 Right-of-use assets 8,395 Other assets 14,792 Total assets acquired $ 428,182 Liabilities assumed: Accounts payable $ 9,686 Accrued wages, benefits and related taxes 8,319 Income taxes payable 1,791 Deferred revenue 236 Current portion of operating lease liabilities 1,711 Other accrued liabilities 18,474 Short-term borrowings and current maturities of long-term debt 17,485 Long-term debt, less current maturities 136,704 Other liabilities and deferred credits 1,404 Deferred taxes 34,198 Long-term operating lease liabilities 6,845 Total liabilities and redeemable noncontrolling interest assumed $ 236,853 Net assets acquired $ 191,329 The Merger initially resulted in a gain on bargain purchase due to the estimated fair value of the identifiable net assets acquired exceeding the purchase consideration transferred by $75.4 million; after further analysis, during the second quarter of fiscal year 2021, the Company recorded measurement period adjustments to its preliminary estimates due to additional information received primarily related to aircraft, redeemable noncontrolling interest and income taxes, resulting in an increase in bargain purchase gain of $5.7 million, for a total of $81.1 million shown as a gain on bargain purchase on the consolidated statements of operations, for the fiscal year ended March 31, 2021. The bargain purchase was a result of a combination of factors including depressed oil and gas prices and market volatility linked to the COVID-19 pandemic between the initial announcement and consummation of the Merger. Specifically, the Era share price declined from $8.59 to $5.16 between the last trading day prior to the announcement of the Merger and the date the Merger closed. The aggregate Merger consideration was based on an exchange ratio that was fixed and did not fluctuate in the event that the value of Old Bristow’s common stock increased or Era’s common stock decreased, between the date of entry into the Merger agreement and consummation of the Merger. The following unaudited supplemental pro forma combined financial information presents the Company’s results of operations for the three months ended September 30, 2020, as though the Merger had occurred on November 1, 2019, the effective date of Old Bristow’s emergence from the Chapter 11 Cases. The unaudited pro forma financial information is as follows (in thousands) (1) : Three Months Ended September 30, Six Months Ended September 30, 2020 2020 Total revenues $ 304,640 $ 609,963 Net loss $ (34,333) $ (10,015) Net loss attributable to Bristow Group Inc. $ (34,200) $ (9,828) ____________________ (1) As a result of the Merger, the Company was required to dispose of its investment in Líder which occurred in August 2020. The Company recorded an impairment in June 2020 of $18.7 million related to the future disposition of the investment. This impairment has been excluded from the pro forma combined Net income and Net income attributable to Bristow Group Inc. for the six months ended September 30, 2020, due to its nonrecurring nature.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Property and Equipment Acquisitions The Company made capital expenditures as follows (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Number of aircraft delivered (1) 1 — 1 — Capital expenditures: Aircraft and equipment $ 13,710 $ 4,291 $ 15,960 $ 7,048 Land and buildings 628 232 1,346 324 Total capital expenditures $ 14,338 $ 4,523 $ 17,306 $ 7,372 ___________________________ (1) Previously leased S92 heavy helicopter acquired during the three months ended September 30, 2021 pursuant to a contractual obligation in the lease. Property and Equipment Dispositions The following table presents details on the aircraft sold or disposed of (in thousands, except for number of aircraft): Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Number of aircraft sold or disposed of 6 31 9 32 Proceeds from sale or disposal of assets $ 3,188 $ 40,475 $ 13,809 $ 52,140 Deposits on assets held for sale $ — $ 3,437 $ — $ 3,437 Gain (loss) on disposal of assets $ 162 $ (8,473) $ 661 $ (2,951) Property, Equipment and Inventory Considerations

REVENUES

REVENUES	6 Months Ended
	Sep. 30, 2021
Revenue Recognition [Abstract]
REVENUES	REVENUES Revenue Recognition The Company derives its revenues primarily from oil and gas flight services, government services and fixed wing services. A majority of the Company’s revenue is generated through two types of contracts: helicopter services, which includes oil and gas, government and other services, and fixed wing services. Revenue is recognized when control of the identified distinct goods or services has been transferred to the customer, the transaction price is determined and allocated to the satisfied performance obligations and the Company has determined that collection has occurred or is probable of occurring. The Company determines revenue recognition by applying the following steps: 1. Identify the contract with a customer; 2. Identify the performance obligations in the contract; 3. Determine the transaction price; 4. Allocate the transaction price to the performance obligations; and 5. Recognize revenue as the performance obligations are satisfied. Operating revenue from the Company’s oil and gas line of service is derived mainly from fixed-term contracts with its customers. Fixed-term contracts typically have original terms of one The following table shows the total revenues (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Revenues from contracts with customers $ 295,968 $ 294,245 588,566 553,653 Total other revenues 5,616 10,395 13,620 21,180 Total revenues 301,584 304,640 602,186 574,833 Beginning in fiscal year 2022, the revenues by line of service tables have been modified to more accurately reflect how management views the Company’s lines of service. These changes include the addition of a Government services line of service which includes revenues from U.K. SAR, the U.S. Bureau of Safety and Environmental Enforcement (“BSEE”), and other government contracts. In addition, our Other activities and services (“other” services) will now reflect revenues derived from leasing aircraft to non-governmental third party operators, oil and gas contracts that do not materially fit into one of the three major oil and gas operating regions and other services as they arise. As such, operating revenues from Asia Pacific oil and gas services are now shown under other services following the exit of that line of service in the Asia Pacific region. Prior period amounts will not match the previously reported amounts by individual lines of service. Management believes this change provides more relevant information needed to understand and analyze the Company’s current lines of service. Revenues by Service Line. The following table sets forth the operating revenues earned by service line for the applicable periods (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Oil and gas services $ 193,681 $ 204,790 383,465 396,385 Government services (1) 69,742 65,610 140,184 120,233 Fixed wing services 23,501 20,310 48,057 31,781 Other services (2) 3,196 5,012 6,765 8,831 Total operating revenues $ 290,120 $ 295,722 $ 578,471 $ 557,230 ____________________ (1) Includes revenues of approximately $8.6 million and $10.6 million related to government services that were previously included in the oil and gas and other service lines for the three and six months ended September 30, 2020, respectively. (2) Includes Asia Pacific and certain Europe revenues of approximately $3.1 million and $6.6 million that were previously included in the oil and gas service line for the three and six months ended September 30, 2020, respectively. Contract Assets, Liabilities and Receivables The Company generally satisfies performance of contract obligations by providing helicopter and fixed wing services to its customers in exchange for consideration. The timing of performance may differ from the timing of the customer’s payment, which results in the recognition of a contract asset or a contract liability. A contract asset exists when the Company has a contract with a customer for which revenue has been recognized (i.e., services have been performed), but customer payment is contingent on a future event (i.e., satisfaction of additional performance obligations). These contract assets are transferred to receivables when the right to consideration becomes unconditional. Contract liabilities relate to deferred revenues in which advance consideration is received from customers for contracts where revenues are recognized based on future performance of services. As of September 30 and March 31, 2021, receivables related to services performed under contracts with customers were $171.8 million and $167.3 million, respectively. During the six months ended September 30, 2021, the Company recognized $8.9 million of revenues from outstanding contract liabilities. Contract liabilities related to services performed under contracts with customers were $12.6 million and $13.3 million as of September 30, 2021 and March 31, 2021, respectively. Contract liabilities are primarily generated by fixed wing services where customers pay for tickets in advance of receiving the Company’s services and advanced payments from helicopter services customers. There were no contract assets as of September 30 and March 31, 2021. Remaining Performance Obligations Remaining performance obligations represent firm contracts for which work has not been performed and future revenue recognition is expected. The table below discloses (1) the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) as of the end of the reporting period and (2) the expected timing to recognize this revenue (in thousands): Remaining Performance Obligations Six Months Ending March 31, 2022 Fiscal Year Ending March 31, Total 2023 2024 2025 2026 and thereafter Outstanding Service Revenue: Helicopter contracts $ 215,454 $ 233,576 $ 187,586 $ 155,471 127,335 $ 919,422 Fixed wing contracts 589 — — — — 589 Total remaining performance obligation revenue $ 216,043 $ 233,576 $ 187,586 $ 155,471 $ 127,335 $ 920,011

DEBT

DEBT	6 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
DEBT	DEBT Debt as of September 30 and March 31, 2021, consisted of the following (in thousands): September 30, 2021 March 31, 2021 6.875% Senior Notes $ 391,613 $ 391,550 Lombard Debt 139,968 146,006 Airnorth Debt — 5,631 Humberside Debt 234 306 Total debt 531,815 543,493 Less short-term borrowings and current maturities of long-term debt (13,180) (15,965) Total long-term debt $ 518,635 $ 527,528 6.875% Senior Notes — In February 2021, the Company issued $400.0 million aggregate principal amount of its 6.875% senior secured notes due March 2028 (the “6.875% Senior Notes”) and received net proceeds of $395.0 million. The 6.875% Senior Notes are fully and unconditionally guaranteed as to payment by a number of subsidiaries. Interest on the 6.875% Senior Notes is payable semi-annually in arrears on March 1st and September 1st of each year, with the first payment on September 1, 2021. The 6.875% Senior Notes may be redeemed at any time and from time to time, with sufficient notice and at the applicable redemption prices set forth in the indenture governing the 6.875% Senior Notes, inclusive of any accrued and unpaid interest leading up to the redemption date. The indenture governing the 6.875% Senior Notes contains covenants that restrict the Company’s ability to, among other things, incur additional indebtedness, pay dividends or make other distributions or repurchase or redeem the Company’s capital stock, prepay, redeem or repurchase certain debt, make loans and investments, sell assets, incur liens, enter into transactions with affiliates, enter into agreements restricting its subsidiaries’ ability to pay dividends, and consolidate, merge or sell all or substantially all of its assets. In addition, upon a specified change of control trigger event or specified asset sale, the Company may be required to repurchase the outstanding balance of the 6.875% Senior Notes. As of September 30, 2021, the Company had $8.4 million of unamortized debt issuance costs associated with the 6.875% Senior Notes. Lombard Debt — During the three and six months ended September 30, 2021, the Company made $3.3 million and $6.6 million, respectively, in principal payments on the Lombard debt. Airnorth Debt — During the three and six months ended September 30, 2021, the Company made $0.5 million and $1.1 million, respectively, in principal payments on the Airnorth debt. In August 2021, the Company made a $4.6 million payment to extinguish the debt, resulting in a loss of $0.1 million. ABL Facility — The Company’s asset-backed revolving credit facility (as amended or modified, the “ABL Facility”) matures in April 2023, subject to certain early maturity triggers related to maturity of other material debt or a change of control of the Company. Amounts borrowed under the ABL Facility are (i) secured by certain accounts receivable owing to the borrower subsidiaries, Bristow Helicopters Limited, Bristow Norway AS, Bristow U.S. LLC and Era Helicopters, LLC (collectively, the “ABL Borrowers”), and the deposit accounts into which payments on such accounts receivable are deposited, and (ii) fully and unconditionally guaranteed as to payment by the Company, as parent guarantor, and each of the ABL Borrowers. The ABL Facility currently provides for commitments in an aggregate amount of $85.0 million. The Company retains the ability under the ABL Facility to increase the total commitments up to a maximum aggregate amount of $115.0 million, subject to the terms and conditions therein. As of September 30, 2021, there were no outstanding borrowings under the ABL Facility nor had the Company made any draws during the three months ended September 30, 2021. Letters of credit issued under the ABL Facility in the aggregate face amount of $21.6 million were outstanding on September 30, 2021. LIBOR Transition — In 2020, a number of regulators in conjunction with the FASB and the U.S. Federal Reserve announced their intention to begin the suspension and replacement of the use of LIBOR starting towards the end of calendar year 2021 with a complete phase-out to be undertaken by June 2023. The effects of this transition from LIBOR to an alternative reference rate may impact the Company’s current indebtedness that is tied to LIBOR, in addition to the potential overall financial market disruption as a result of this phase-out. The Company is currently evaluating the potential effects of this announcement on its underlying debt, but it does not expect the impact to be material.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	6 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES The fair value of an asset or liability is the price that would be received to sell an asset or transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company utilizes a fair value hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value and defines three levels of inputs that may be used to measure fair value. The fair values of the Company’s cash and cash equivalents, accounts receivable and accounts payable approximate their carrying values due to the short-term nature of these items. Assets and liabilities subject to fair value measurement are categorized into one of three different levels depending on the observability of the inputs employed in the measurement, as follows: • Level 1 – observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 – inputs that reflect quoted prices for identical assets or liabilities in markets which are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the asset or liability; or inputs that are derived principally from or corroborated by observable market data by correlation or other means. • Level 3 – unobservable inputs reflecting the Company’s own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available. Fair Value of Debt The fair value of the Company’s debt has been estimated in accordance with the accounting standard regarding fair value. The fair value of the Company’s long-term debt was estimated using discounted cash flow analysis based on market prices for those loans and estimated current rates for similar types of arrangements. Considerable judgment was required in developing certain of the estimates of fair value, and, accordingly, the estimates presented herein are not necessarily indicative of the amounts that the Company could realize in a current market exchange. The carrying and fair values of the Company’s debt are as follows (in thousands): Carrying Level 1 Level 2 Level 3 September 30, 2021 LIABILITIES 6.875% Senior Notes (1) $ 391,613 $ — $ 422,648 $ — Lombard Debt 139,968 — 148,226 — Humberside Debt 234 — 234 — $ 531,815 $ — $ 571,108 $ — March 31, 2021 LIABILITIES 6.875% Senior Notes (1) $ 391,550 $ — $ 398,870 $ — Lombard Debt 146,006 — 155,270 — Airnorth Debt 5,631 — 5,656 — Humberside Debt 306 — 306 — $ 543,493 $ — $ 560,102 $ — _________________ (1) The carrying value of the 6.875% Senior Notes is net of unamortized debt issuance costs of $8.4 million. The carrying values are net of unamortized discounts as follows (in thousands): September 30, 2021 March 31, 2021 Lombard Debt $ 17,195 $ 21,495 Airnorth Debt — 154 Total unamortized debt discount $ 17,195 $ 21,649 Old Bristow Preferred Stock Embedded Derivative The fair value of Old Bristow’s preferred stock embedded derivative was estimated on the pre-merger basis, using the income approach, namely a “with” and “without” analysis. The difference between the value of Old Bristow’s preferred stock in the “with” and “without” analyses represented the value of the embedded derivative. Old Bristow was private on the pre-merger basis and hence, the Old Bristow preferred stock value was estimated based on the expected exchange ratio upon the merger. As there was no trading price or any directly observable market information for the embedded derivative itself or Old Bristow’s preferred stock price the fair value of the embedded derivative represents a model value. Due to these facts and circumstances, the fair value of Old Bristow’s Preferred Stock embedded derivative was derived from Level 3 inputs, due to the nature of unobservable inputs that required significant estimates, judgments and assumptions. Changes in the fair value of the New Preferred Stock derivative liability, carried at fair value, were reported as change in fair value of the preferred stock derivative liability in the condensed consolidated statements of operations. During the six months ended September 30, 2020, the Company recognized non-cash gain of approximately $15.4 million due to an increase in the preferred stock derivative liability related to the embedded derivative in the New Preferred Stock. The following table provides a rollforward of the preferred stock embedded derivative Level 3 fair value measurements for the six months ended September 30, 2020: Significant Unobservable Inputs (Level 3) Derivative financial instruments: (in thousands) March 31, 2020 $ 286,182 Change in fair value (15,416) Preferred stock shares conversion (266,846) Share repurchases (3,920) September 30, 2020 $ —

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Fleet — The Company’s unfunded capital commitments as of September 30, 2021 consisted primarily of agreements to purchase helicopters and totaled $85.4 million, payable beginning in fiscal year 2022. The Company also had $1.3 million of deposits paid on options not yet exercised. All of the Company’s capital commitments (inclusive of deposits paid on options not yet exercised) may be terminated without further liability other than aggregate liquidated damages of approximately $2.1 million. Included in these commitments are orders to purchase three AW189 heavy helicopters and five AW169 light twin helicopters. The AW189 helicopters are scheduled to be delivered in fiscal year 2023 through 2025. Delivery dates for the AW169 helicopters have yet to be determined. In addition, the Company had outstanding options to purchase up to ten additional AW189 helicopters. If these options are exercised, the helicopters would be scheduled for delivery in fiscal years 2024 through 2026. The Company may, from time to time, purchase aircraft for which it has no orders. General Litigation and Disputes In July 2021, the Company settled a bankruptcy preference claim related to amounts paid under a termination agreement between Old Bristow and Columbia Helicopters, Inc. The settlement was considered a gain contingency and resulted in a $9.0 million cash receipt. The Company operates in jurisdictions internationally where it is subject to risks that include government action to obtain additional tax revenue. In a number of these jurisdictions, political unrest, the lack of well-developed legal systems and legislation that is not clear enough in its wording to determine the ultimate application, can make it difficult to determine whether legislation may impact the Company’s earnings until such time as a clear court or other ruling exists. The Company operates in jurisdictions currently where amounts may be due to governmental bodies that the Company is not currently recording liabilities for as it is unclear how broad or narrow legislation may ultimately be interpreted. The Company believes that payment of amounts in these instances is not probable at this time, but is reasonably possible. In the normal course of business, the Company is involved in various litigation matters including, among other things, claims by third parties for alleged property damages and personal injuries. In addition, from time to time, the Company is involved in tax and other disputes with various government agencies. Management has used estimates in determining the Company’s potential exposure to these matters and has recorded reserves in its condensed consolidated financial statements related thereto as appropriate. It is possible that a change in its estimates related to these exposures could occur, but the Company does not expect such changes in estimated costs or uninsured losses, if any, would have a material effect on its business, consolidated financial position or results of operations.

TAXES

TAXES	6 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
TAXES	TAXES The Company’s effective tax rate was 84.2% and (44.2)% during the three months ended September 30, 2021 and September 30, 2020, respectively, and (518.7)% and 10.9% during the six months ended September 30, 2021 and September 30, 2020, respectively. The effective tax rate in the six months ended September 30, 2021 includes the impact of impairment losses, utilization of net operating losses in certain foreign jurisdictions and adjustment to the Company’s valuation allowances against future realization of deductible business interest expense. The Company’s provision for income taxes for the interim period ended September 30, 2021 was prepared by applying the estimated annual income tax rate for the full fiscal year to income from continuing operations, excluding discrete items, for the reporting period. For the three months ended September 30, 2020, the Company utilized the discrete effective tax rate method to report its provision for income taxes. The relationship between the Company’s provision for or benefit from income taxes and the Company’s pre-tax book income can vary significantly from period to period considering, among other factors, (a) the overall level of pre-tax book income, including asset sales, (b) changes in the blend of income that is taxed based on gross revenues or at high effective tax rates versus pre-tax book income or at low effective tax rates and (c) the Company’s geographical blend of pre-tax book income. Consequently, the Company’s income tax expense or benefit does not change proportionally with the Company’s pre-tax book income or loss. Significant decreases in the Company’s pre-tax book income typically result in higher effective tax rates, while significant increases in pre-tax book income can lead to lower effective tax rates, subject to the other factors impacting income tax expense noted above. The change in the Company’s effective tax rate excluding discrete items for the three and six months ended September 30, 2021 compared to the three and six months ended September 30, 2020 primarily related to changes in the blend of earnings taxed in relatively high taxed jurisdictions versus low taxed jurisdictions. Additionally, the Company increased its valuation allowances by $2.9 million and $2.3 million for the six months ended September 30, 2021 and 2020, respectively. Valuation allowances are presented as reductions to the Company’s deferred tax assets. The Company evaluates its deferred tax assets quarterly, which requires significant management judgment to determine the recoverability of these deferred tax assets by assessing whether it is more likely than not that some or all of the deferred tax asset will be realized before expiration. After considering all available positive and negative evidence using a “more likely than not” standard, the Company believes it is appropriate to value against deferred tax assets related to foreign tax credits and certain foreign net operating losses. The benefit of an uncertain tax position taken or expected to be taken on an income tax return is recognized in the condensed consolidated financial statements at the largest amount that is more likely than not to be sustained upon examination by the relevant taxing authority. Interest and penalties, if any, related to uncertain tax positions would be recorded in interest expense and other expense, respectively.

STOCKHOLDERS' INVESTMENT, EARNI

STOCKHOLDERS' INVESTMENT, EARNINGS PER SHARE AND ACCUMULATED OTHER COMPREHENSIVE INCOME	6 Months Ended
	Sep. 30, 2021
Equity [Abstract]
STOCKHOLDERS' INVESTMENT, EARNINGS PER SHARE AND ACCUMULATED OTHER COMPREHENSIVE INCOME	STOCKHOLDERS’ INVESTMENT, EARNINGS PER SHARE AND ACCUMULATED OTHER COMPREHENSIVE INCOME Share Repurchases. On September 16, 2020, the Board authorized a stock repurchase plan providing for the repurchase of up to $75.0 million of the Company's common stock. Repurchases under the program may be made in the open market, including pursuant to a Rule 10b5-1 plan, by block repurchases, in private transactions (including with related parties) or otherwise, from time to time, depending on market conditions. The share repurchase program has no expiration date and may be suspended or discontinued at any time without notice. During the three months ended September 30, 2021, the Company repurchased 547,596 shares of common stock in open market transactions for gross consideration of $14.9 million, at an average cost per share of $27.24. During the six months ended September 30, 2021, the Company repurchased 1,480,804 shares of common stock for gross consideration of $40.0 million, which is an average cost per share of $27.02. After these repurchases, $25.0 million remained available of the authorized $75.0 million share repurchase program. Earnings per Share Basic earnings per common share is computed by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per common share excludes options to purchase common shares and restricted stock units and awards which were outstanding during the period but were anti-dilutive. The following table shows the computation of basic and diluted earnings per share (in thousands, except share and per share amounts): Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Income (loss): Net income (loss) attributable to Bristow Group Inc. $ 2,775 $ (27,861) $ (11,422) $ 43,616 Less: PIK dividends (1) — — — (12,039) Plus: Deemed contribution from conversion of preferred stock — — — 144,986 Income (loss) available to common stockholders – basic $ 2,775 $ (27,861) $ (11,422) $ 176,563 Add: PIK dividends — — — 12,039 Less: Changes in fair value of preferred stock derivative liability — — — (15,416) Income (loss) available to common stockholders – diluted $ 2,775 $ (27,861) $ (11,422) $ 173,186 Shares: Weighted average number of common shares outstanding – basic 28,233,527 29,357,959 28,844,633 20,230,285 Net effect of dilutive preferred stock — — — 13,801,372 Effect of dilutive stock options and restricted stock 451,133 — — — Weighted average number of common shares outstanding – diluted (2) 28,684,660 29,357,959 28,844,633 34,031,657 Earnings (losses) per common share - basic $ 0.10 $ (0.95) $ (0.40) $ 8.73 Earnings (losses) per common share - diluted $ 0.10 $ (0.95) $ (0.40) $ 5.09 ___________________________ (1) See Note 6 and discussion below for further details on PIK dividends and changes in fair value of preferred stock derivative liability. (2) Excludes weighted average common shares of 1,143,686 and 1,280,592 for the three months ended September 30, 2021 and 2020, respectively, and 1,656,651 and 1,267,315 for the six months ended September 30, 2021 and 2020, for certain share awards as the effect of their inclusion would have been antidilutive. Stockholders’ Investment, Old Bristow Common Stock and Old Bristow Preferred Stock In connection with the Merger, the Old Bristow preferred stock was converted into Old Bristow common stock, and then all Old Bristow common stock was subsequently converted into the Company’s common stock. As Old Bristow’s preferred stock could be redeemed in certain circumstances outside of the sole control of Old Bristow (including at the option of the holder), but was not mandatorily redeemable, the Old Bristow preferred stock was classified as mezzanine equity and initially recognized at fair value of $618.9 million as of its Emergence from Voluntary Reorganization under Chapter 11, the “Effective Date”. This amount was reduced by the fair value of the bifurcated derivative liability of $470.3 million as of the Effective Date, resulting in an initial value of $148.6 million. The difference between (a) the carrying value of the embedded derivative of $270.8 million plus the carrying value of the Preferred Stock Host of $148.6 million and (b) the fair value of the Old Bristow Common Stock of $270.7 million paid as consideration for the Old Bristow Preferred Stock was recognized in retained earnings, because the fair value of the Old Bristow Common Stock was less than the combined carrying values of the Old Bristow Preferred Stock host and embedded derivative. Prior to the Merger, there were 11,092,845 shares of Old Bristow Common Stock and 6,725,798 shares of Old Bristow Preferred Stock issued and outstanding. Old Bristow repurchased certain shares of Old Bristow Common Stock and shares of Old Bristow Preferred Stock immediately prior to the conversion of the Old Bristow Preferred Stock into Old Bristow Common Stock. The repurchase was accounted for in the same manner as the share conversion and included in the calculation described above. The Old Bristow Preferred Stock was converted into Old Bristow Common Stock at a rate of 5.179562 shares of Old Bristow Common Stock for each share of Old Bristow Preferred Stock. The Old Bristow Common Stock was then subsequently exchanged for the Combined Company Common Stock, resulting in a total of 24,195,693 shares of Combined Company Common Stock issued to Old Bristow stockholders. This resulted in a total of 30,882,471 shares of Combined Company Common Stock issued and outstanding immediately after consummation of the Merger. Accumulated Other Comprehensive Income (Loss) The following table shows the changes in balances for accumulated other comprehensive income (loss) (in thousands): Currency Translation Adjustments Pension Liability Adjustments (1) Unrealized gain (loss) on cash flow hedges (2) Total Balance as of March 31, 2021 $ 32,646 $ (37,965) $ (1,596) $ (6,915) Other comprehensive income (loss) before reclassification (13,537) — 2,551 (10,986) Net current period other comprehensive income (loss) (13,537) — 2,551 (10,986) Foreign exchange rate impact (873) 873 — — Balance as of September 30, 2021 $ 18,236 $ (37,092) $ 955 $ (17,901) __________________________ (1) Reclassification of amounts related to pension liability adjustments are included as a component of net periodic pension cost. (2) Reclassification of amounts related to cash flow hedges were included as direct costs.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company conducts business in one segment: aviation services. The aviation services operations include four regions as follows: Europe, Africa, the Americas and Asia Pacific. The Europe region comprises all of the Company’s operations and affiliates in Europe, including Norway and the U.K. The Africa region comprises all of the Company’s operations and affiliates on the African continent, including Nigeria. The Americas region comprises all of the Company’s operations and affiliates in North America and South America, including Brazil, Canada, Guyana, Suriname, Trinidad and the U.S. Gulf of Mexico. The Asia Pacific region comprises all of the Company’s operations and affiliates in Australia and Southeast Asia. The following tables show region information reconciled to consolidated totals, and prepared on the same basis as the Company’s condensed consolidated financial statements (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Region revenue from external customers: Europe $ 167,099 $ 164,920 $ 341,413 $ 331,913 Africa 18,601 23,056 35,874 54,778 Americas 95,427 95,361 181,765 154,475 Asia Pacific 20,100 21,112 42,181 33,370 Corporate and other 357 191 953 297 Total region revenue (1) $ 301,584 $ 304,640 $ 602,186 $ 574,833 _________________________________________________ (1) The above table represents disaggregated revenue from contracts with customers except for the following (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Revenues not from contracts with customers: Europe $ 1,162 $ 348 $ 1,539 $ 690 Americas (1) 4,368 9,964 11,907 20,333 Asia Pacific 86 83 174 157 Total region revenue $ 5,616 $ 10,395 $ 13,620 $ 21,180 _________________________________________________ (1) Includes revenues of approximately $0.9 million and $2.3 million from our unconsolidated affiliate in Canada, Cougar Helicopters Inc. (“Cougar”), previously included in Corporate and other for the three and six months ended September 30, 2020, respectively. Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Earnings (losses) from unconsolidated affiliates, net – equity method investments: Americas 964 1,948 (553) (30) Total losses from unconsolidated affiliates, net – equity method investments $ 964 $ 1,948 $ (553) $ (30) Consolidated operating income (loss): Europe $ 13,484 $ 19,614 $ 36,516 $ 46,926 Africa (3,493) (13,790) (14,972) (8,941) Americas 21,723 16,188 33,955 3,186 Asia Pacific (1,539) 4,535 (1,757) 3,007 Corporate and other (17,862) (40,729) (54,159) (77,761) Gain on disposal of assets 162 (8,473) 661 (2,951) Total consolidated operating loss $ 12,475 $ (22,655) $ 244 $ (36,534) Depreciation and amortization: Europe $ 8,225 $ 8,080 $ 18,169 $ 16,292 Africa 1,300 1,284 3,976 2,601 Americas 3,748 5,098 9,500 8,053 Asia Pacific 1,881 2,048 3,829 4,054 Corporate and other 2,490 2,027 5,365 3,893 Total depreciation and amortization $ 17,644 $ 18,537 $ 40,839 $ 34,893 September 30, 2021 March 31, 2021 Identifiable assets: Europe $ 966,733 $ 1,026,042 Africa 136,674 179,445 Americas 544,706 579,169 Asia Pacific 55,387 102,169 Corporate and other 157,737 105,445 Total identifiable assets $ 1,861,236 $ 1,992,270 Investments in unconsolidated affiliates – equity method: Europe $ 26 $ 679 Americas 3,120 3,851 Total investments in unconsolidated affiliates – equity method $ 3,146 $ 4,530

BASIS OF PRESENTATION, CONSOL_2

BASIS OF PRESENTATION, CONSOLIDATION AND ACCOUNTING POLICIES (Policies)	6 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements include the accounts of Bristow Group Inc. and its consolidated entities. On January 23, 2020, Era Group Inc. (“Era”), Ruby Redux Merger Sub, Inc., a wholly owned subsidiary of Era (“Merger Sub”) and Bristow Group Inc. (“Old Bristow”) entered into an Agreement and Plan of Merger, as amended on April 22, 2020 (the “Merger Agreement”). On June 11, 2020, the merger (the “Merger”) contemplated by the Merger Agreement was consummated and Merger Sub merged with and into Old Bristow, with Old Bristow continuing as the surviving corporation and as a direct wholly owned subsidiary of Era. Following the Merger, Era changed its name to Bristow Group Inc., and Old Bristow changed its name to Bristow Holdings U.S. Inc. Unless the context otherwise indicates, in this Quarterly Report on Form 10-Q, references to: • the “Company”, “Combined Company,” “Bristow”, “we”, “us” and “our” refer to the entity currently known as Bristow Group Inc. and formerly known as Era Group Inc., together with all of its current subsidiaries; • “Old Bristow” refers to the entity formerly known as Bristow Group Inc. and now known as Bristow Holdings U.S. Inc., together with its subsidiaries prior to the consummation of the Merger; and • “Era” refers to Era Group Inc. (currently known as Bristow Group Inc., the parent of the Combined Company) and its subsidiaries prior to consummation of the Merger. Pursuant to the United States (“U.S.”) generally accepted accounting principles (“GAAP”), the Merger was accounted for as an acquisition by Old Bristow of Era even though Era was the legal acquirer and remained the ultimate parent of the Combined Company. As a result, upon the closing of the Merger, Old Bristow’s historical financial statements replaced Era’s historical financial statements for all periods prior to the completion of the Merger, and the financial condition, results of operations, comprehensive income and cash flows of Era have been included in those financial statements since June 12, 2020. Any reference to comparative period disclosures in the Quarterly Report on Form 10-Q refers to Old Bristow. The Company’s fiscal year ends March 31, and fiscal years are referenced based on the end of such period. Therefore, the fiscal year ending March 31, 2022 is referred to as “fiscal year 2022”. The condensed consolidated financial information for the three and six months ended September 30, 2021 and September 30, 2020 has been prepared by the Company in accordance with GAAP and pursuant to the rules and regulations of the SEC for interim financial information reporting on Quarterly Form 10-Q and Regulation S-X. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from that which would appear in the annual consolidated financial statements. These condensed consolidated financial statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2021, filed with the Securities and Exchange Commission (the “SEC”) on May 27, 2021. The preparation of these financial statements and accompanying footnotes requires the Company to make estimates and assumptions; however, they include all adjustments of a normal recurring nature which, in the opinion of management, are necessary for a fair presentation of the condensed consolidated balance sheet, the condensed consolidated statements of operations and comprehensive loss, the condensed consolidated statements of cash flows and the condensed consolidated statements of changes in stockholders equity. Operating results for the interim period presented are not necessarily indicative of the results that may be expected for the entire fiscal year. The condensed consolidated financial information found on this Quarterly Form 10-Q has not been audited by the Company’s independent registered public accounting firm.
Basis of Consolidation	Basis of Consolidation The consolidated financial statements include the accounts of Bristow Group Inc., its wholly and majority-owned subsidiaries and entities that meet the criteria of variable interest entities (“VIEs”) of which the Company is the primary beneficiary. All significant inter-company accounts and transactions are eliminated in consolidation.
Reclassifications	Reclassifications — Certain amounts reported for prior periods in the consolidated financial statements have been reclassified to conform with the current period’s presentation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company considers the applicability and impact of all accounting standard updates (“ASUs”). ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the Company’s consolidated financial position or results of operations. Adopted In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform” (Topic 848). The guidance is intended to provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The standard was effective beginning in fiscal year 2022 for the Company. Adoption of this accounting standard had no material impact to the Company’s financial statements. In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes” (Topic 740), new guidance to simplify the accounting for income taxes, which eliminates certain exceptions for recognizing deferred taxes for investments, performing intraperiod allocation and calculating income taxes in interim periods. This standard also included guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. The standard was effective beginning in fiscal year 2022 for the Company. Adoption of this accounting standard had no material impact to the Company’s financial statements. Not Yet Adopted In May 2021, the FASB issued ASU Update No. 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40). The purpose of this update is to clarify and reduce diversity in practice for the accounting of certain modifications or exchanges of equity written call options. Under the guidance, an issuer determines
Revenue Recognition	Revenue Recognition The Company derives its revenues primarily from oil and gas flight services, government services and fixed wing services. A majority of the Company’s revenue is generated through two types of contracts: helicopter services, which includes oil and gas, government and other services, and fixed wing services. Revenue is recognized when control of the identified distinct goods or services has been transferred to the customer, the transaction price is determined and allocated to the satisfied performance obligations and the Company has determined that collection has occurred or is probable of occurring. The Company determines revenue recognition by applying the following steps: 1. Identify the contract with a customer; 2. Identify the performance obligations in the contract; 3. Determine the transaction price; 4. Allocate the transaction price to the performance obligations; and 5. Recognize revenue as the performance obligations are satisfied. Operating revenue from the Company’s oil and gas line of service is derived mainly from fixed-term contracts with its customers. Fixed-term contracts typically have original terms of one The following table shows the total revenues (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Revenues from contracts with customers $ 295,968 $ 294,245 588,566 553,653 Total other revenues 5,616 10,395 13,620 21,180 Total revenues 301,584 304,640 602,186 574,833 Beginning in fiscal year 2022, the revenues by line of service tables have been modified to more accurately reflect how management views the Company’s lines of service. These changes include the addition of a Government services line of service which includes revenues from U.K. SAR, the U.S. Bureau of Safety and Environmental Enforcement (“BSEE”), and other government contracts. In addition, our Other activities and services (“other” services) will now reflect revenues derived from leasing aircraft to non-governmental third party operators, oil and gas contracts that do not materially fit into one of the three major oil and gas operating regions and other services as they arise. As such, operating revenues from Asia Pacific oil and gas services are now shown under other services following the exit of that line of service in the Asia Pacific region. Prior period amounts will not match the previously reported amounts by individual lines of service. Management believes this change provides more relevant information needed to understand and analyze the Company’s current lines of service. Revenues by Service Line. The following table sets forth the operating revenues earned by service line for the applicable periods (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Oil and gas services $ 193,681 $ 204,790 383,465 396,385 Government services (1) 69,742 65,610 140,184 120,233 Fixed wing services 23,501 20,310 48,057 31,781 Other services (2) 3,196 5,012 6,765 8,831 Total operating revenues $ 290,120 $ 295,722 $ 578,471 $ 557,230 ____________________ (1) Includes revenues of approximately $8.6 million and $10.6 million related to government services that were previously included in the oil and gas and other service lines for the three and six months ended September 30, 2020, respectively. (2) Includes Asia Pacific and certain Europe revenues of approximately $3.1 million and $6.6 million that were previously included in the oil and gas service line for the three and six months ended September 30, 2020, respectively. Contract Assets, Liabilities and Receivables The Company generally satisfies performance of contract obligations by providing helicopter and fixed wing services to its customers in exchange for consideration. The timing of performance may differ from the timing of the customer’s payment, which results in the recognition of a contract asset or a contract liability. A contract asset exists when the Company has a contract with a customer for which revenue has been recognized (i.e., services have been performed), but customer payment is contingent on a future event (i.e., satisfaction of additional performance obligations). These contract assets are transferred to receivables when the right to consideration becomes unconditional. Contract liabilities relate to deferred revenues in which advance consideration is received from customers for contracts where revenues are recognized based on future performance of services.

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	6 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions, by Acquisition	The acquisition date fair value of the consideration transferred consisted of the following (in thousands): Fair value of Combined Company Common Stock issued (1) $ 106,440 Fair value of accelerated stock awards (2) 2,067 Fair value of exchanged stock awards (3) 228 Total consideration transferred $ 108,735 Fair value of redeemable noncontrolling interest 1,501 Total fair value of Era $ 110,236 ___________________________ (1) Represents the fair value of Combined Company Common Stock retained by Era Common Stockholders based on the closing market price of Era shares on June 11, 2020, the acquisition date. (2) Represents the fair value of restricted share awards of Combined Company Common Stock held by Era employees that were accelerated upon consummation of the Merger. (3) Represents the fair value of restricted share awards of Combined Company Common Stock held by Era employees relating to the pre-Merger vesting period. The following table summarizes the fair values of assets acquired and liabilities assumed as of the date of acquisition, June 11, 2020 (in thousands): Assets acquired: Cash and cash equivalents $ 120,236 Accounts receivable from non-affiliates 35,079 Prepaid expenses and other current assets 17,598 Inventories 8,826 Property and equipment 223,256 Right-of-use assets 8,395 Other assets 14,792 Total assets acquired $ 428,182 Liabilities assumed: Accounts payable $ 9,686 Accrued wages, benefits and related taxes 8,319 Income taxes payable 1,791 Deferred revenue 236 Current portion of operating lease liabilities 1,711 Other accrued liabilities 18,474 Short-term borrowings and current maturities of long-term debt 17,485 Long-term debt, less current maturities 136,704 Other liabilities and deferred credits 1,404 Deferred taxes 34,198 Long-term operating lease liabilities 6,845 Total liabilities and redeemable noncontrolling interest assumed $ 236,853 Net assets acquired $ 191,329
Schedule of Unaudited Pro Forma Financial Information	The unaudited pro forma financial information is as follows (in thousands) (1) : Three Months Ended September 30, Six Months Ended September 30, 2020 2020 Total revenues $ 304,640 $ 609,963 Net loss $ (34,333) $ (10,015) Net loss attributable to Bristow Group Inc. $ (34,200) $ (9,828) ____________________ (1) As a result of the Merger, the Company was required to dispose of its investment in Líder which occurred in August 2020. The Company recorded an impairment in June 2020 of $18.7 million related to the future disposition of the investment. This impairment has been excluded from the pro forma combined Net income and Net income attributable to Bristow Group Inc. for the six months ended September 30, 2020, due to its nonrecurring nature.

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Capital Expenditures And Aircraft Sold or Disposed of and Impairments on Assets Held-for-sale	The Company made capital expenditures as follows (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Number of aircraft delivered (1) 1 — 1 — Capital expenditures: Aircraft and equipment $ 13,710 $ 4,291 $ 15,960 $ 7,048 Land and buildings 628 232 1,346 324 Total capital expenditures $ 14,338 $ 4,523 $ 17,306 $ 7,372 ___________________________ (1) Previously leased S92 heavy helicopter acquired during the three months ended September 30, 2021 pursuant to a contractual obligation in the lease. The following table presents details on the aircraft sold or disposed of (in thousands, except for number of aircraft): Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Number of aircraft sold or disposed of 6 31 9 32 Proceeds from sale or disposal of assets $ 3,188 $ 40,475 $ 13,809 $ 52,140 Deposits on assets held for sale $ — $ 3,437 $ — $ 3,437 Gain (loss) on disposal of assets $ 162 $ (8,473) $ 661 $ (2,951)

REVENUES (Tables)

REVENUES (Tables)	6 Months Ended
	Sep. 30, 2021
Revenue Recognition [Abstract]
Schedule of Disaggregation of Revenue	The following table shows the total revenues (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Revenues from contracts with customers $ 295,968 $ 294,245 588,566 553,653 Total other revenues 5,616 10,395 13,620 21,180 Total revenues 301,584 304,640 602,186 574,833 Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Oil and gas services $ 193,681 $ 204,790 383,465 396,385 Government services (1) 69,742 65,610 140,184 120,233 Fixed wing services 23,501 20,310 48,057 31,781 Other services (2) 3,196 5,012 6,765 8,831 Total operating revenues $ 290,120 $ 295,722 $ 578,471 $ 557,230 ____________________ (1) Includes revenues of approximately $8.6 million and $10.6 million related to government services that were previously included in the oil and gas and other service lines for the three and six months ended September 30, 2020, respectively. (2) Includes Asia Pacific and certain Europe revenues of approximately $3.1 million and $6.6 million that were previously included in the oil and gas service line for the three and six months ended September 30, 2020, respectively.
Schedule of Remaining Performance Obligations	The table below discloses (1) the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) as of the end of the reporting period and (2) the expected timing to recognize this revenue (in thousands): Remaining Performance Obligations Six Months Ending March 31, 2022 Fiscal Year Ending March 31, Total 2023 2024 2025 2026 and thereafter Outstanding Service Revenue: Helicopter contracts $ 215,454 $ 233,576 $ 187,586 $ 155,471 127,335 $ 919,422 Fixed wing contracts 589 — — — — 589 Total remaining performance obligation revenue $ 216,043 $ 233,576 $ 187,586 $ 155,471 $ 127,335 $ 920,011

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of debt	Debt as of September 30 and March 31, 2021, consisted of the following (in thousands): September 30, 2021 March 31, 2021 6.875% Senior Notes $ 391,613 $ 391,550 Lombard Debt 139,968 146,006 Airnorth Debt — 5,631 Humberside Debt 234 306 Total debt 531,815 543,493 Less short-term borrowings and current maturities of long-term debt (13,180) (15,965) Total long-term debt $ 518,635 $ 527,528

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	6 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of fair value of debt	The carrying and fair values of the Company’s debt are as follows (in thousands): Carrying Level 1 Level 2 Level 3 September 30, 2021 LIABILITIES 6.875% Senior Notes (1) $ 391,613 $ — $ 422,648 $ — Lombard Debt 139,968 — 148,226 — Humberside Debt 234 — 234 — $ 531,815 $ — $ 571,108 $ — March 31, 2021 LIABILITIES 6.875% Senior Notes (1) $ 391,550 $ — $ 398,870 $ — Lombard Debt 146,006 — 155,270 — Airnorth Debt 5,631 — 5,656 — Humberside Debt 306 — 306 — $ 543,493 $ — $ 560,102 $ — _________________ (1) The carrying value of the 6.875% Senior Notes is net of unamortized debt issuance costs of $8.4 million. The carrying values are net of unamortized discounts as follows (in thousands): September 30, 2021 March 31, 2021 Lombard Debt $ 17,195 $ 21,495 Airnorth Debt — 154 Total unamortized debt discount $ 17,195 $ 21,649
Rollforward of Preferred Stock Embedded Derivative Level 3 Fair Value Measurements	The following table provides a rollforward of the preferred stock embedded derivative Level 3 fair value measurements for the six months ended September 30, 2020: Significant Unobservable Inputs (Level 3) Derivative financial instruments: (in thousands) March 31, 2020 $ 286,182 Change in fair value (15,416) Preferred stock shares conversion (266,846) Share repurchases (3,920) September 30, 2020 $ —

STOCKHOLDERS' INVESTMENT, EAR_2

STOCKHOLDERS' INVESTMENT, EARNINGS PER SHARE AND ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	6 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Schedule of earnings per share, basic and diluted	The following table shows the computation of basic and diluted earnings per share (in thousands, except share and per share amounts): Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Income (loss): Net income (loss) attributable to Bristow Group Inc. $ 2,775 $ (27,861) $ (11,422) $ 43,616 Less: PIK dividends (1) — — — (12,039) Plus: Deemed contribution from conversion of preferred stock — — — 144,986 Income (loss) available to common stockholders – basic $ 2,775 $ (27,861) $ (11,422) $ 176,563 Add: PIK dividends — — — 12,039 Less: Changes in fair value of preferred stock derivative liability — — — (15,416) Income (loss) available to common stockholders – diluted $ 2,775 $ (27,861) $ (11,422) $ 173,186 Shares: Weighted average number of common shares outstanding – basic 28,233,527 29,357,959 28,844,633 20,230,285 Net effect of dilutive preferred stock — — — 13,801,372 Effect of dilutive stock options and restricted stock 451,133 — — — Weighted average number of common shares outstanding – diluted (2) 28,684,660 29,357,959 28,844,633 34,031,657 Earnings (losses) per common share - basic $ 0.10 $ (0.95) $ (0.40) $ 8.73 Earnings (losses) per common share - diluted $ 0.10 $ (0.95) $ (0.40) $ 5.09 ___________________________ (1) See Note 6 and discussion below for further details on PIK dividends and changes in fair value of preferred stock derivative liability. (2) Excludes weighted average common shares of 1,143,686 and 1,280,592 for the three months ended September 30, 2021 and 2020, respectively, and 1,656,651 and 1,267,315 for the six months ended September 30, 2021 and 2020, for certain share awards as the effect of their inclusion would have been antidilutive.
Schedule of accumulated other comprehensive income (loss)	The following table shows the changes in balances for accumulated other comprehensive income (loss) (in thousands): Currency Translation Adjustments Pension Liability Adjustments (1) Unrealized gain (loss) on cash flow hedges (2) Total Balance as of March 31, 2021 $ 32,646 $ (37,965) $ (1,596) $ (6,915) Other comprehensive income (loss) before reclassification (13,537) — 2,551 (10,986) Net current period other comprehensive income (loss) (13,537) — 2,551 (10,986) Foreign exchange rate impact (873) 873 — — Balance as of September 30, 2021 $ 18,236 $ (37,092) $ 955 $ (17,901) __________________________ (1) Reclassification of amounts related to pension liability adjustments are included as a component of net periodic pension cost. (2) Reclassification of amounts related to cash flow hedges were included as direct costs.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of revenue by segment	The following tables show region information reconciled to consolidated totals, and prepared on the same basis as the Company’s condensed consolidated financial statements (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Region revenue from external customers: Europe $ 167,099 $ 164,920 $ 341,413 $ 331,913 Africa 18,601 23,056 35,874 54,778 Americas 95,427 95,361 181,765 154,475 Asia Pacific 20,100 21,112 42,181 33,370 Corporate and other 357 191 953 297 Total region revenue (1) $ 301,584 $ 304,640 $ 602,186 $ 574,833 _________________________________________________ (1) The above table represents disaggregated revenue from contracts with customers except for the following (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Revenues not from contracts with customers: Europe $ 1,162 $ 348 $ 1,539 $ 690 Americas (1) 4,368 9,964 11,907 20,333 Asia Pacific 86 83 174 157 Total region revenue $ 5,616 $ 10,395 $ 13,620 $ 21,180 _________________________________________________ (1) Includes revenues of approximately $0.9 million and $2.3 million from our unconsolidated affiliate in Canada, Cougar Helicopters Inc. (“Cougar”), previously included in Corporate and other for the three and six months ended September 30, 2020, respectively.
Operating Performance and Total Assets by Segment	Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Earnings (losses) from unconsolidated affiliates, net – equity method investments: Americas 964 1,948 (553) (30) Total losses from unconsolidated affiliates, net – equity method investments $ 964 $ 1,948 $ (553) $ (30) Consolidated operating income (loss): Europe $ 13,484 $ 19,614 $ 36,516 $ 46,926 Africa (3,493) (13,790) (14,972) (8,941) Americas 21,723 16,188 33,955 3,186 Asia Pacific (1,539) 4,535 (1,757) 3,007 Corporate and other (17,862) (40,729) (54,159) (77,761) Gain on disposal of assets 162 (8,473) 661 (2,951) Total consolidated operating loss $ 12,475 $ (22,655) $ 244 $ (36,534) Depreciation and amortization: Europe $ 8,225 $ 8,080 $ 18,169 $ 16,292 Africa 1,300 1,284 3,976 2,601 Americas 3,748 5,098 9,500 8,053 Asia Pacific 1,881 2,048 3,829 4,054 Corporate and other 2,490 2,027 5,365 3,893 Total depreciation and amortization $ 17,644 $ 18,537 $ 40,839 $ 34,893 September 30, 2021 March 31, 2021 Identifiable assets: Europe $ 966,733 $ 1,026,042 Africa 136,674 179,445 Americas 544,706 579,169 Asia Pacific 55,387 102,169 Corporate and other 157,737 105,445 Total identifiable assets $ 1,861,236 $ 1,992,270 Investments in unconsolidated affiliates – equity method: Europe $ 26 $ 679 Americas 3,120 3,851 Total investments in unconsolidated affiliates – equity method $ 3,146 $ 4,530

BASIS OF PRESENTATION, CONSOL_3

BASIS OF PRESENTATION, CONSOLIDATION AND ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Organization, Consolidation And Presentation Of Financial Statements [Line Items]
Loss on sale of subsidiaries	$ 0	$ 0	$ 2,002	$ 0
Hauser
Organization, Consolidation And Presentation Of Financial Statements [Line Items]
Noncontrolling ownership percentage	75.00%		75.00%
Hauser | Sicher
Organization, Consolidation And Presentation Of Financial Statements [Line Items]
Noncontrolling ownership percentage	100.00%		100.00%
Petroleum Air Services
Organization, Consolidation And Presentation Of Financial Statements [Line Items]
Economic interest ownership percentage	25.00%		25.00%
Loss on investment			$ 16,000
Equity securities without readily determinable fair value	$ 17,000		$ 17,000

BUSINESS COMBINATIONS - Narrati

BUSINESS COMBINATIONS - Narrative (Details) $ / shares in Units, $ in Thousands	Jun. 11, 2020USD ($)director$ / shares	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Mar. 31, 2021USD ($)	Jan. 24, 2020$ / shares
Business Acquisition [Line Items]
Number of directors | director	8
Number of directors designated by Bristow | director	6
Aggregate fair value of aircraft acquired	$ 179,900
Gain on bargain purchase		$ 0	$ 5,660	$ 0	$ 81,093
Era
Business Acquisition [Line Items]
Gain on bargain purchase	$ 75,400					$ 81,100
Bargain purchase gain, increase			$ 5,700
Former Bristow stockholders | Combined Company Common Stock
Business Acquisition [Line Items]
Ownership percentage	77.00%
Era Common Stockholders | Combined Company Common Stock
Business Acquisition [Line Items]
Ownership percentage	23.00%
Era
Business Acquisition [Line Items]
Price per share (in USD per share) | $ / shares	$ 5.16						$ 8.59

BUSINESS COMBINATIONS - Schedul

BUSINESS COMBINATIONS - Schedule of Acquisition Date Fair Value (Details) - Era $ in Thousands	Jun. 11, 2020USD ($)
Business Acquisition [Line Items]
Total consideration transferred	$ 108,735
Fair value of redeemable noncontrolling interest	1,501
Total fair value of Era	110,236
Common stock
Business Acquisition [Line Items]
Fair value of stock transferred	106,440
Accelerated stock awards
Business Acquisition [Line Items]
Fair value of stock transferred	2,067
Stock awards
Business Acquisition [Line Items]
Fair value of stock transferred	$ 228

BUSINESS COMBINATIONS - Sched_2

BUSINESS COMBINATIONS - Schedule of Fair Value of Assets and Liabilities (Details) - Era $ in Thousands	Jun. 11, 2020USD ($)
Business Acquisition [Line Items]
Cash and cash equivalents	$ 120,236
Accounts receivable from non-affiliates	35,079
Prepaid expenses and other current assets	17,598
Inventories	8,826
Property and equipment	223,256
Right-of-use assets	8,395
Other assets	14,792
Total assets acquired	428,182
Accounts payable	9,686
Accrued wages, benefits and related taxes	8,319
Income taxes payable	1,791
Deferred revenue	236
Current portion of operating lease liabilities	1,711
Other accrued liabilities	18,474
Short-term borrowings and current maturities of long-term debt	17,485
Long-term debt, less current maturities	136,704
Other liabilities and deferred credits	1,404
Deferred taxes	34,198
Long-term operating lease liabilities	6,845
Total liabilities and redeemable noncontrolling interest assumed	236,853
Net assets acquired	$ 191,329

BUSINESS COMBINATIONS - Sched_3

BUSINESS COMBINATIONS - Schedule of Pro Forma Consolidated Financial Information (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2020
Lider
Business Acquisition [Line Items]
Impairment of investment in unconsolidated affiliates	$ 18,700
Era
Business Acquisition [Line Items]
Total revenues		$ 304,640	$ 609,963
Net loss		(34,333)	(10,015)
Net loss attributable to Bristow Group Inc.		$ (34,200)	$ (9,828)

PROPERTY AND EQUIPMENT - Proper

PROPERTY AND EQUIPMENT - Property and Equipment Acquisitions (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021USD ($)aircraft	Sep. 30, 2020USD ($)aircraft	Sep. 30, 2021USD ($)aircraft	Sep. 30, 2020USD ($)aircraft
Property, Plant and Equipment [Line Items]
Number of aircraft delivered | aircraft	1	0	1	0
Capital expenditures	$ 14,338	$ 4,523	$ 17,306	$ 7,372
Aircraft and equipment
Property, Plant and Equipment [Line Items]
Capital expenditures	13,710	4,291	15,960	7,048
Land and buildings
Property, Plant and Equipment [Line Items]
Capital expenditures	$ 628	$ 232	$ 1,346	$ 324

PROPERTY AND EQUIPMENT - Prop_2

PROPERTY AND EQUIPMENT - Property and Equipment Disposals (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021USD ($)aircraft	Sep. 30, 2020USD ($)aircraft	Sep. 30, 2021USD ($)aircraft	Sep. 30, 2020USD ($)aircraft
Property, Plant and Equipment [Abstract]
Number of aircraft sold or disposed of | aircraft	6	31	9	32
Proceeds from sale or disposal of assets	$ 3,188	$ 40,475	$ 13,809	$ 52,140
Deposits on assets held for sale	0	3,437	0	3,437
Gain (loss) on disposal of assets	$ 162	$ (8,473)	$ 661	$ (2,951)

PROPERTY AND EQUIPMENT - Narrat

PROPERTY AND EQUIPMENT - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Impairment	$ 2.9	$ 12.4	$ 8.8	$ 12.4

REVENUES - Narrative (Details)

REVENUES - Narrative (Details)	6 Months Ended
	Sep. 30, 2021USD ($)contract	Mar. 31, 2021USD ($)
Disaggregation of Revenue [Line Items]
Types of contracts | contract	2
Revenue recognized	$ 8,900,000
Contract with customer, liability	12,600,000	$ 13,300,000
Contract with customer, asset, after allowance for credit loss	$ 0	0
Low
Disaggregation of Revenue [Line Items]
Period of service	1 year
Invoicing payment due period	30 days
Contract termination notice period	30 days
High
Disaggregation of Revenue [Line Items]
Period of service	5 years
Invoicing payment due period	60 days
Contract termination notice period	365 days
Revenue
Disaggregation of Revenue [Line Items]
Contracts with customers	$ 171,800,000	$ 167,300,000

REVENUES- Schedule of Revenue (

REVENUES- Schedule of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue Recognition [Abstract]
Revenues from contracts with customers	$ 295,968	$ 294,245	$ 588,566	$ 553,653
Total other revenues	5,616	10,395	13,620	21,180
Revenue	$ 301,584	$ 304,640	$ 602,186	$ 574,833

REVENUES - Schedule of Revenues

REVENUES - Schedule of Revenues by Service Line (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 301,584	$ 304,640	$ 602,186	$ 574,833
Oil and gas services
Disaggregation of Revenue [Line Items]
Revenue	193,681	204,790	383,465	396,385
Oil and gas services | Reclassification Adjustment
Disaggregation of Revenue [Line Items]
Revenue		(3,100)		(6,600)
Government services
Disaggregation of Revenue [Line Items]
Revenue	69,742	65,610	140,184	120,233
Government services | Reclassification Adjustment
Disaggregation of Revenue [Line Items]
Revenue		8,600		10,600
Fixed wing services
Disaggregation of Revenue [Line Items]
Revenue	23,501	20,310	48,057	31,781
Other services
Disaggregation of Revenue [Line Items]
Revenue	3,196	5,012	6,765	8,831
Other services | Reclassification Adjustment
Disaggregation of Revenue [Line Items]
Revenue		3,100		6,600
Service
Disaggregation of Revenue [Line Items]
Revenue	$ 290,120	295,722	$ 578,471	557,230
Oil and Gas and Other Services | Reclassification Adjustment
Disaggregation of Revenue [Line Items]
Revenue		$ (8,600)		$ (10,600)

REVENUES - Remaining Performanc

REVENUES - Remaining Performance Obligations (Details) $ in Thousands	Sep. 30, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 920,011
Helicopter contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	919,422
Fixed wing contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 589

REVENUES - Remaining Performa_2

REVENUES - Remaining Performance Obligations Total (Details) $ in Thousands	Sep. 30, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 920,011
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 216,043
Remaining performance obligation, expected timing	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 233,576
Remaining performance obligation, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 187,586
Remaining performance obligation, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 155,471
Remaining performance obligation, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 127,335
Remaining performance obligation, expected timing	1 year
Helicopter contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 919,422
Helicopter contracts | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 215,454
Remaining performance obligation, expected timing	6 months
Helicopter contracts | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 233,576
Remaining performance obligation, expected timing	1 year
Helicopter contracts | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 187,586
Remaining performance obligation, expected timing	1 year
Helicopter contracts | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 155,471
Remaining performance obligation, expected timing	1 year
Helicopter contracts | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 127,335
Remaining performance obligation, expected timing	1 year
Fixed wing contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 589
Fixed wing contracts | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 589
Remaining performance obligation, expected timing	6 months
Fixed wing contracts | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 0
Remaining performance obligation, expected timing	1 year
Fixed wing contracts | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 0
Remaining performance obligation, expected timing	1 year
Fixed wing contracts | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 0
Remaining performance obligation, expected timing	1 year
Fixed wing contracts | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 0
Remaining performance obligation, expected timing	1 year

DEBT - Schedule of Debt (Detail

DEBT - Schedule of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021	Feb. 28, 2021
Debt Instrument [Line Items]
Long-term debt	$ 531,815	$ 543,493
Less short-term borrowings and current maturities of long-term debt	(13,180)	(15,965)
Total long-term debt	518,635	527,528
Senior Notes | 6.875% Senior Notes
Debt Instrument [Line Items]
Long-term debt	$ 391,613	391,550
Stated interest rate	6.875%		6.875%
Secured Debt | Lombard Debt
Debt Instrument [Line Items]
Long-term debt	$ 139,968	146,006
Secured Debt | Airnorth Debt
Debt Instrument [Line Items]
Long-term debt	0	5,631
Secured Debt | Humberside Debt
Debt Instrument [Line Items]
Long-term debt	$ 234	$ 306

DEBT - Narrative (Details)

DEBT - Narrative (Details) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended
	Aug. 31, 2021	Feb. 28, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Debt Instrument [Line Items]
Repayments of debt					$ 12,479,000	$ 85,369,000
Loss on extinguishment of debt			$ 124,000	$ 0	$ 124,000	$ 615,000
Senior Notes | 6.875% Senior Notes
Debt Instrument [Line Items]
Stated interest rate		6.875%	6.875%		6.875%
Face amount		$ 400,000,000
Proceeds from issuance of long-term debt		$ 395,000,000
Unamortized debt issuance costs			$ 8,400,000		$ 8,400,000
Secured Debt | Lombard Debt
Debt Instrument [Line Items]
Repayments of debt			3,300,000		6,600,000
Secured Debt | Airnorth Debt
Debt Instrument [Line Items]
Repayments of debt			500,000		1,100,000
Extinguishment of debt	$ 4,600,000
Loss on extinguishment of debt	$ 100,000
Line of Credit | ABL Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			85,000,000		85,000,000
Increase limit			115,000,000		115,000,000
Aggregate face amount outstanding			$ 21,600,000		$ 21,600,000

FAIR VALUE DISCLOSURES - Fair V

FAIR VALUE DISCLOSURES - Fair Value of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021	Feb. 28, 2021
Senior Notes | 6.875% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	6.875%		6.875%
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 531,815	$ 543,493
Carrying Value | Senior Notes | 6.875% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 391,613	391,550
Stated interest rate	6.875%
Carrying Value | Secured Debt | Lombard Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 139,968	146,006
Carrying Value | Secured Debt | Airnorth Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value		5,631
Carrying Value | Secured Debt | Humberside Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	234	306
Level 1 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	0
Level 1 | Fair Value | Senior Notes | 6.875% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	0
Level 1 | Fair Value | Secured Debt | Lombard Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	0
Level 1 | Fair Value | Secured Debt | Airnorth Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value		0
Level 1 | Fair Value | Secured Debt | Humberside Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	0
Level 2 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	571,108	560,102
Level 2 | Fair Value | Senior Notes | 6.875% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	422,648	398,870
Level 2 | Fair Value | Secured Debt | Lombard Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	148,226	155,270
Level 2 | Fair Value | Secured Debt | Airnorth Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value		5,656
Level 2 | Fair Value | Secured Debt | Humberside Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	234	306
Level 3 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	0
Level 3 | Fair Value | Senior Notes | 6.875% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	0
Level 3 | Fair Value | Secured Debt | Lombard Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	0
Level 3 | Fair Value | Secured Debt | Airnorth Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value		0
Level 3 | Fair Value | Secured Debt | Humberside Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 0	$ 0

FAIR VALUE DISCLOSURES - Narrat

FAIR VALUE DISCLOSURES - Narrative (Details) - USD ($) $ in Thousands	Jun. 11, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Change in fair value of preferred stock derivative liability		$ 0	$ 0	$ 0	$ 15,416
Call right, conversion of preferred stock ratio (in shares)	5.17962

FAIR VALUE DISCLOSURES - Schedu

FAIR VALUE DISCLOSURES - Schedule of Unamortized Debt Discount (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unamortized discount	$ 17,195	$ 21,649
Lombard Debt | Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unamortized discount	17,195	21,495
Airnorth Debt | Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unamortized discount	$ 0	$ 154

FAIR VALUE DISCLOSURES - Rollfo

FAIR VALUE DISCLOSURES - Rollforward of Preferred Stock Embedded Derivative (Details) $ in Thousands	6 Months Ended
	Sep. 30, 2020USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 286,182
Change in fair value	(15,416)
Preferred stock shares conversion	(266,846)
Share repurchases	(3,920)
Ending balance	$ 0

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Sep. 30, 2021USD ($)helicopter	Jul. 31, 2021USD ($)
Other Commitments [Line Items]
Additional helicopters | helicopter	10
Gain contingency		$ 9
Aircraft
Other Commitments [Line Items]
Purchase obligations	$ 85.4
Deposits paid on options not yet exercised	1.3
Unrecorded unconditional purchase obligation balance sheet amount related to liquidated damage	$ 2.1
AW189 Heavy Helicopters
Other Commitments [Line Items]
Number of helicopters | helicopter	3
AW169 Light Twin Helicopters
Other Commitments [Line Items]
Number of helicopters | helicopter	5

TAXES (Details)

TAXES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	84.20%	(44.20%)	(518.70%)	10.90%
Valuation allowance, deferred tax asset			$ 2.9	$ 2.3

STOCKHOLDERS' INVESTMENT, EAR_3

STOCKHOLDERS' INVESTMENT, EARNINGS PER SHARE AND ACCUMULATED OTHER COMPREHENSIVE INCOME - Narrative (Details) - USD ($)	Jun. 11, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Mar. 31, 2021	Sep. 16, 2020	Jun. 30, 2020	Jun. 10, 2020	Mar. 31, 2020	Oct. 31, 2019
Class of Stock [Line Items]
Stock repurchase program, authorized amount						$ 75,000,000
Purchase of treasury shares (in shares)		547,596		1,480,804
Purchase of treasury shares		$ 14,900,000	$ 7,579,000	$ 40,000,000
Purchase of treasury shares (in dollars per share)		$ 27.24		$ 27.02
Stock repurchase program, remaining authorized repurchase amount		$ 25,000,000		$ 25,000,000
Mezzanine equity, initial fair value										$ 618,900,000
Derivative liability										470,300,000
Mezzanine equity, fair value		0	$ 0	0	$ 1,572,000		$ 0		$ 149,785,000	148,600,000
Common stock		$ 303,000		$ 303,000	$ 303,000
Common stock, shares issued (in shares)	30,882,471							11,092,845
Preferred stock, shares issued (in shares)								6,725,798
Conversion rate of stock (in shares)	5.179562
Legacy Bristow stockholders
Class of Stock [Line Items]
Common stock, shares issued (in shares)	24,195,693
Carrying Value
Class of Stock [Line Items]
Derivative liability										270,800,000
Common stock										$ 270,700,000

STOCKHOLDERS' INVESTMENT, EAR_4

STOCKHOLDERS' INVESTMENT, EARNINGS PER SHARE AND ACCUMULATED OTHER COMPREHENSIVE INCOME - Computation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income (loss):
Net income (loss) attributable to Bristow Group Inc.		$ 2,775	$ (27,861)	$ (11,422)	$ 43,616
Less: PIK dividends		0	0	0	(12,039)
Plus: Deemed contribution from conversion of preferred stock		0	0	0	144,986
Income (loss) available to common stockholders – basic		2,775	(27,861)	(11,422)	176,563
Add: PIK dividends		0	0	0	12,039
Less: Changes in fair value of preferred stock derivative liability		0	0	0	(15,416)
Income (loss) available to common stockholders – diluted		$ 2,775	$ (27,861)	$ (11,422)	$ 173,186
Shares:
Weighted average number of common shares outstanding – basic (in shares)	[1]	28,233,527	29,357,959	28,844,633	20,230,285
Net effect of dilutive preferred stock (in shares)		0	0	0	13,801,372
Effect of dilutive stock options and restricted stock (in shares)		451,133	0	0	0
Weighted average number of common shares outstanding – diluted (in shares)	[1]	28,684,660	29,357,959	28,844,633	34,031,657
Earnings (losses) per common share - basic (in dollars per share)	[1]	$ 0.10	$ (0.95)	$ (0.40)	$ 8.73
Earnings (losses) per common share - diluted (in dollars per share)	[1]	$ 0.10	$ (0.95)	$ (0.40)	$ 5.09
Weighted average common shares excluded from computation (in shares)		1,143,686	1,280,592	1,656,651	1,267,315
[1]	See Note 9 to the condensed consolidated financial statements for details on prior year income (loss) per share and weighted average common shares outstanding.

STOCKHOLDERS' INVESTMENT, EAR_5

STOCKHOLDERS' INVESTMENT, EARNINGS PER SHARE AND ACCUMULATED OTHER COMPREHENSIVE INCOME - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Beginning balance	$ 862,158	$ 897,071	$ 1,029,180	$ 426,216	$ 897,071	$ 426,216
Total comprehensive income (loss)	(13,152)	2,166	14,043	2,278
Foreign exchange rate impact	(15,683)		15,326		(14,411)	18,485
Ending balance	838,999	862,158	1,010,059	1,029,180	838,999	1,010,059
Currency Translation Adjustments
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Beginning balance		32,646			32,646
Other comprehensive income (loss) before reclassification					(13,537)
Total comprehensive income (loss)					(13,537)
Foreign exchange rate impact					(873)
Ending balance	18,236				18,236
Pension Liability Adjustments
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Beginning balance		(37,965)			(37,965)
Other comprehensive income (loss) before reclassification					0
Total comprehensive income (loss)					0
Foreign exchange rate impact					873
Ending balance	(37,092)				(37,092)
Unrealized gain (loss) on cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Beginning balance		(1,596)			(1,596)
Other comprehensive income (loss) before reclassification					2,551
Total comprehensive income (loss)					2,551
Foreign exchange rate impact					0
Ending balance	955				955
Total
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Beginning balance	(4,749)	(6,915)	(6,363)	(8,641)	(6,915)	(8,641)
Other comprehensive income (loss) before reclassification					(10,986)
Total comprehensive income (loss)	(13,152)	2,166	14,043	2,278	(10,986)
Foreign exchange rate impact					0
Ending balance	$ (17,901)	$ (4,749)	$ 7,680	$ (6,363)	$ (17,901)	$ 7,680

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details)	6 Months Ended
	Sep. 30, 2021segmentregion
Segment Reporting [Abstract]
Number of operating segments | segment	1
Number of regions | region	4

SEGMENT INFORMATION - Revenue b

SEGMENT INFORMATION - Revenue by Region (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Region revenue from external customers	$ 301,584	$ 304,640	$ 602,186	$ 574,833
Revenue not from contracts with customers	5,616	10,395	13,620	21,180
Corporate and other
Segment Reporting Information [Line Items]
Region revenue from external customers	357	191	953	297
Europe | Reportable Geographical Components
Segment Reporting Information [Line Items]
Region revenue from external customers	167,099	164,920	341,413	331,913
Revenue not from contracts with customers	1,162	348	1,539	690
Africa | Reportable Geographical Components
Segment Reporting Information [Line Items]
Region revenue from external customers	18,601	23,056	35,874	54,778
Americas | Reportable Geographical Components
Segment Reporting Information [Line Items]
Region revenue from external customers	95,427	95,361	181,765	154,475
Revenue not from contracts with customers	4,368	9,964	11,907	20,333
Americas | Reportable Geographical Components | Reclassification Adjustment
Segment Reporting Information [Line Items]
Revenue not from contracts with customers		900		2,300
Asia Pacific | Reportable Geographical Components
Segment Reporting Information [Line Items]
Region revenue from external customers	20,100	21,112	42,181	33,370
Revenue not from contracts with customers	$ 86	$ 83	$ 174	$ 157

SEGMENT INFORMATION - Operating

SEGMENT INFORMATION - Operating Performance and Total Assets by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021
Segment Reporting Information [Line Items]
Total losses from unconsolidated affiliates, net – equity method investments	$ 964	$ 1,948	$ (553)	$ (30)
Gain on disposal of assets	162	(8,473)	661	(2,951)
Operating income (loss)	12,475	(22,655)	244	(36,534)
Depreciation and amortization	17,644	18,537	40,839	34,893
Total identifiable assets	1,861,236		1,861,236		$ 1,992,270
Total investments in unconsolidated affiliates – equity method	3,146		3,146		4,530
Corporate and other
Segment Reporting Information [Line Items]
Operating income (loss)	(17,862)	(40,729)	(54,159)	(77,761)
Depreciation and amortization	2,490	2,027	5,365	3,893
Total identifiable assets	157,737		157,737		105,445
Europe | Reportable Geographical Components
Segment Reporting Information [Line Items]
Operating income (loss)	13,484	19,614	36,516	46,926
Depreciation and amortization	8,225	8,080	18,169	16,292
Total identifiable assets	966,733		966,733		1,026,042
Total investments in unconsolidated affiliates – equity method	26		26		679
Africa | Reportable Geographical Components
Segment Reporting Information [Line Items]
Operating income (loss)	(3,493)	(13,790)	(14,972)	(8,941)
Depreciation and amortization	1,300	1,284	3,976	2,601
Total identifiable assets	136,674		136,674		179,445
Americas
Segment Reporting Information [Line Items]
Total losses from unconsolidated affiliates, net – equity method investments	964	1,948	(553)	(30)
Americas | Reportable Geographical Components
Segment Reporting Information [Line Items]
Operating income (loss)	21,723	16,188	33,955	3,186
Depreciation and amortization	3,748	5,098	9,500	8,053
Total identifiable assets	544,706		544,706		579,169
Total investments in unconsolidated affiliates – equity method	3,120		3,120		3,851
Asia Pacific | Reportable Geographical Components
Segment Reporting Information [Line Items]
Operating income (loss)	(1,539)	4,535	(1,757)	3,007
Depreciation and amortization	1,881	$ 2,048	3,829	$ 4,054
Total identifiable assets	$ 55,387		$ 55,387		$ 102,169