

	Fiscal Quarter Ended
	June 30⁽¹⁾⁽²⁾			September 30⁽³⁾⁽⁴⁾			December 31⁽⁵⁾⁽⁶⁾			March 31⁽⁷⁾⁽⁸⁾

	(In thousands, except per share amounts)
Fiscal year 2018
Gross revenue	$	352,109		$	373,676		$	360,735		$	358,442
Operating loss ⁽⁹⁾	(24,589		)	(12,917		)	(3,497		)	(107,835		)
Net loss attributable to Bristow Group ⁽⁹⁾	(55,275		)	(31,209		)	(8,273		)	(100,901		)
Loss per share:
Basic	$	(1.57	)	$	(0.88	)	$	(0.23	)	$	(2.84	)
Diluted	$	(1.57	)	$	(0.88	)	$	(0.23	)	$	(2.84	)
Fiscal year 2017
Gross revenue	$	369,398		$	357,467		$	337,443		$	336,194
Operating loss ⁽⁹⁾	(26,235		)	(26,882		)	(19,097		)	(19,528		)
Net loss attributable to Bristow Group ⁽⁹⁾	(40,772		)	(29,797		)	(21,927		)	(78,040		)
Loss per share:
Basic	$	(1.17	)	$	(0.85	)	$	(0.62	)	$	(2.22	)
Diluted	$	(1.17	)	$	(0.85	)	$	(0.62	)	$	(2.22	)

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⁽¹⁾

Operating loss, net loss and diluted loss per share for the fiscal quarter ended June 30, 2017 included: (a) a negative impact of $9.7 million, $6.6 million, and $0.19, respectively, from organizational restructuring costs to increase efficiency and reduced costs across the organization and (b) a negative impact of $1.2 million, $0.8 million and $0.02, respectively, due to impairment of inventories. Net loss and diluted loss per share for the fiscal quarter ended June 30, 2017 included a negative impact of $14.9 million and $0.42, respectively, due to tax items that include a one-time non-cash tax effect from repositioning of certain aircraft from one tax jurisdiction to another related to recent financing transactions and the valuation of deferred tax assets.

⁽²⁾

Operating loss, net loss and diluted loss per share for the fiscal quarter ended June 30, 2016 included: (a) a negative impact of $6.6 million, $4.3 million and $0.12, respectively, from organizational restructuring costs to increase efficiency and reduce costs across the organization and (b) a negative impact of $6.9 million, $4.5 million and $0.13 due to fleet changes that resulted in additional depreciation expense. Net loss and diluted loss per share for the fiscal quarter ended June 30, 2016 included a negative impact of $13.2 million and $0.38, respectively due to tax valuable allowances.

⁽³⁾

Operating loss, net loss and diluted loss per share for the fiscal quarter ended September 30, 2017 included a negative impact of $2.7 million, $2.2 million, and $0.06, respectively, from organizational restructuring costs to increase efficiency and reduced costs across the organization. Net loss and diluted loss per share for the fiscal quarter ended September 30, 2017 included a negative impact of $3.2 million and $0.09, respectively, due to tax items that include a one-time non-cash tax effect from repositioning of certain aircraft from one tax jurisdiction to another related to recent financing transactions and the valuation of deferred tax assets.

⁽⁴⁾

Operating loss, net loss and diluted loss per share for the fiscal quarter ended September 30, 2016 included: (a) a negative impact of $10.7 million, $7.3 million and $0.21, respectively, from organizational restructuring costs to increase efficiency and reduced costs across the organization, (b) a negative impact of $1.3 million, $0.9 million and $0.02, respectively, due to fleet changes that resulted in additional depreciation expense and (c) a negative impact of $7.6 million, $5.3 million and $0.15,respectively, due to impairment charges on inventory. Net loss and diluted loss per share for the fiscal quarter ended September 30, 2016 included a negative impact of $2.5 million and $0.07, respectively, due to tax valuation allowances.

⁽⁵⁾

Operating loss, net loss and diluted loss per share for the fiscal quarter ended December 31, 2017 included a negative impact of $2.8 million, $2.5 million, and $0.07, respectively, from organizational restructuring costs to increase efficiency and reduced costs across the organization. Net loss and diluted loss per share for the fiscal quarter ended December 31, 2017 included a positive impact of $15.1 million and $0.42, respectively, due to tax items that include a one-time non-cash benefit related to the revaluation of net deferred tax liabilities to a lower tax rate resulting from the Act in December 2017 offset by the negative impact of deemed repatriation of foreign earnings under the Act.

⁽⁶⁾

Operating loss, net loss and diluted loss per share for the fiscal quarter ended December 31, 2016 included: (a) a negative impact of $0.8 million, $0.6 million and $0.02, respectively, from organizational restructuring costs to increase efficiency and reduced costs across the organization, (b) a negative impact of $1.1 million, $0.8 million and $0.02 respectively, due to fleet changes that resulted in additional depreciation expense and (c) a negative impact of $8.7 million, $7.9 million and $0.22, respectively, due to impairment of goodwill related to Eastern Airways. Net loss and diluted loss per share for the fiscal quarter ended December 31, 2016 included a negative impact of $3.7 million and $0.10, respectively, due to tax valuation allowances.

⁽⁷⁾

Operating loss, net loss and diluted loss per share for the fiscal quarter ended March 31, 2018 included a negative impact of $90.2 million, $62.4 million, and $1.76, respectively, from loss on impairment, a negative impact of $8.5 million, $6.0 million, and $0.17, respectively, from organizational restructuring costs to increase efficiency and reduced costs across the organization. Net loss and diluted loss per share for the fiscal quarter ended March 31, 2018 included: (a) a positive impact of $25.8 million and $0.73, respectively, for a one-time non-cash tax effect from the true-up of the one-time transition tax on the repatriation of foreign earnings under the Act and net reversal of valuation allowances on deferred tax assets, partially offset by expense related to the true-up of the revaluation of net deferred tax liabilities to a lower tax rate resulting from the Act and (b) a negative impact of $1.3 million and $0.04, respectively, due to early extinguishment of debt.

⁽⁸⁾

Operating loss, net loss and diluted loss per share for the fiscal quarter ended March 31, 2017 included: (a) a negative impact of $2.8 million, $2.1 million and $0.06, respectively, from organizational restructuring costs to increase efficiency and reduced costs across the organization, (b) a negative impact of $1.1 million, $0.7 million and $0.02, respectively, due to fleet changes that resulted in additional depreciation expense and (c) a positive impact of $5.9 million, $5.9 million and $0.17, respectively, from the reversal of Airnorth contingent consideration. Net loss and diluted loss per share for the fiscal quarter ended March 31, 2016 included a negative impact of $40.0 million and $1.14, respectively, due to tax items that include a one-time non-cash tax effect from repositioning of certain aircraft from one tax jurisdiction to another related to recent financing transactions and the valuation of deferred tax assets.

⁽⁹⁾

The fiscal quarters ended June 30, September 30 and December 31, 2017, and March 31, 2018 included $0.7 million, $(8.5) million, $(4.6) million and $(5.2) million, respectively, in gain (loss) on disposal of assets included in operating loss which also increased net loss by $3.9 million, $14.1 million, $2.5 million and $40.1 million, respectively, and diluted loss per share by $0.11, $0.40, $0.07 and $1.13, respectively. The fiscal quarters ended June 30, September 30 , December 31, 2016, and March 31, 2017 included $10.0 million, $2.2 million, $0.9 million and $1.4 million, respectively in loss on disposal of assets included in operating loss which also impacted net loss by $(6.8) million, $(1.5) million, $1.1 million and $(0.8) million, respectively, and diluted loss per share by $(0.19), $(0.04), $0.03 and $(0.02), respectively.