EXHIBIT 21

OFFSHORE LOGISTICS, INC.

Subsidiaries of the Registrant as of March 31, 2003

			Percentage
	Place of		of Voting
Company	Incorporation		Stock Owned
Aeroleo Taxi Aereo S/A		Brazil		20	%
Air Logistics of Alaska, Inc.		Alaska		100	%
Air Logistics, L.L.C		Louisiana		100	%
Aircopter Maintenance International, Inc.		Panama		49	%
Airlog International, Inc.		Panama		100	%
Airlog International, Ltd.		Delaware		100	%
Airlog Part Sales, Inc.		Louisiana		100	%
Brilog Leasing Limited		Cayman Islands		100	%
Bristow Aviation Holdings Limited		England		49	%
Bristow Caribbean Ltd.		Trinidad/Tobago		40	% *
Bristow Helicopter Group Limited		England		49	%
Bristow Helicopters Australia Pty. Ltd.		Australia		49	% *
Bristow Helicopters International Limited		England		49	%
Bristow Helicopters Limited		England		49	%
Bristow Helicopters Nigeria Limited		Nigeria		40	% *
Bristow International Limited		England		100	%
FB Heliservices Limited		England		50	% *
FBL Limited		England		50	% *
FBS Limited		England		50	% *
Grasso Corporation		Delaware		100	%
Grasso Production Management		Texas		100	%
Guaranty Financial International, N.A.		Netherlands Antilles		49	%
Heliservicio Campeche S.A. de C.V.		Mexico		49	%
Hemisco Helicopters International, Inc.		Panama		49	%
Medic Systems, Inc.		Delaware		100	%
Norsk Helikopter AS		Norway		49	% *
Offshore Logistics International, Inc.		Panama		100	%
Pan African Airlines Nigeria Ltd.		Nigeria		40	%
Petroleum Air Services		Egypt		25	%
Pueblo Airmotive, Inc.		Arizona		100	%

* percentage owned by Bristow Helicopters Limited