Bristow Group Inc. entered into a Pre‑Delivery Payment deposit agreement with Electra.aero, Inc., securing the first production slot for the EL9 Ultra‑Short hybrid‑electric aircraft. The nine‑passenger platform offers a 330‑nautical‑mile range, a 1,100‑nautical‑mile ferry range, and an ultra‑short take‑off and landing capability of just 150 feet.
The agreement follows a five‑year partnership that began with a Letter of Intent in 2021. Bristow will receive five EL9s in the first year of production, with an option to purchase an additional 45 aircraft under the same terms. Delivery is expected to commence in 2029 after Electra’s certification, with the first test flights slated for 2027.
By becoming a launch customer, Bristow gains a competitive edge in the emerging Direct Aviation market. The EL9’s ability to operate from very short runways opens new point‑to‑point routes for corporate, resort, and government customers, aligning with Bristow’s broader strategy to modernize its fleet and capture new revenue streams beyond offshore and government services.
Bristow’s financial position supports the investment. The company reported Q2 2025 revenue of $376.4 million and net income of $31.7 million, and Q3 2025 revenue of $386.3 million with net income of $51.5 million. A current ratio of 1.91 indicates liquidity. While the deposit agreement is a multi‑million‑dollar commitment, specific financial terms remain undisclosed.
Electra has secured significant funding, including a $115 million Series B round in April 2025, and strategic investors such as Lockheed Martin Ventures, Honeywell, and Safran. The EL9 is still subject to certification, with service entry targeted for 2029. Bristow’s early slot secures the first production aircraft, giving it a head start in a market that could reshape regional air mobility.
Management comments underscore the strategic importance of the deal. Electra CEO Marc Allen said the partnership signals confidence in the EL9 and Direct Aviation, while Bristow EVP Dave Stepanek highlighted the EL9’s ultra‑short performance, quiet operation, and lower operating costs as transformative for regional mobility.
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