þ
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ANNUAL
REPORT PURSUANT TO SECTION 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
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For
the Fiscal Year Ended December 31, 2007
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OR
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|
o
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TRANSITION
REPORT PURSUANT TO SECTION 15(d)
OF
THE SECURITIES EXCHANGE ACT OF 1934
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For
the transition period from
___________to______________
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A.
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Full
title of the plan and the address of the plan, if different from that of
the issuer named below:
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B.
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Name
of issuer of the securities held pursuant to the plan and the address of
its principal executive office:
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Bristow
Group Inc.
2000
W. Sam Houston Pkwy. S.,
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Suite
1700
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Houston,
Texas 77042
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Page
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|
Report
of Independent Registered Accounting
Firm
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2
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Statements
of Net Assets Available for
Benefits
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3
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Statement
of Changes in Net Assets Available for
Benefits
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4
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Notes
to Financial
Statements
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5 -
8
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Supplemental
Schedules
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Schedule
H, Line 4i – Schedule of Assets (Held at End of
Year)
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9
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Schedule
H, Line 4j – Schedule of Reportable
Transactions
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10
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December
31,
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||||||||
2007
|
2006
|
|||||||
ASSETS
|
||||||||
INVESTMENTS,
at fair market value
|
||||||||
Mutual
funds
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$
|
70,528,427
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$
|
64,195,764
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||||
Equity
funds
|
8,852,128
|
6,288,027
|
||||||
Common/collective
trust
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23,595,003
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23,403,378
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||||||
Participant
loans
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3,158,282
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2,695,925
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||||||
TOTAL
INVESTMENTS
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106,133,840
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96,583,094
|
||||||
RECEIVABLES
|
||||||||
Participant
contributions
|
192,190
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177,206
|
||||||
Employer
contributions
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2,127,210
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2,050,186
|
||||||
TOTAL
RECEIVABLES
|
2,319,400
|
2,227,392
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||||||
NET
ASSETS AVAILABLE FOR
BENEFITS
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$
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108,453,240
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$
|
98,810,486
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ADDITIONS
TO NET ASSETS
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|||||
INVESTMENT
INCOME
|
|||||
Net
appreciation in fair value of
investments
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$
|
4,673,508
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|||
Interest
from common/collective
trusts
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4,656,764
|
||||
Interest
from participant
loans
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214,407
|
||||
TOTAL
INVESTMENT
INCOME
|
9,544,679
|
||||
CONTRIBUTIONS
|
|||||
Participant
|
6,395,800
|
||||
Employer
|
3,749,894
|
||||
TOTAL
CONTRIBUTIONS
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10,145,694
|
||||
TOTAL
ADDITIONS TO NET
ASSETS
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19,690,373
|
||||
DEDUCTIONS
FROM NET ASSETS
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|||||
Benefits
paid to
participants
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10,035,634
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||||
Administrative
expenses
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11,985
|
||||
TOTAL
DEDUCTIONS FROM NET
ASSETS
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10,047,619
|
||||
NET
INCREASE
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9,642,754
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||||
NET
ASSETS AVAILABLE FOR BENEFITS
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|||||
Beginning
of
year
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98,810,486
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||||
End
of
year
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$
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108,453,240
|
December
31,
|
||||||
2007
|
2006
|
|||||
Vanguard
500 Index Fund Investor Shares
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$
|
26,329,930
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$
|
28,148,740
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||
Vanguard
U.S. Growth Fund
|
—
|
5,325,829
|
||||
Vanguard
International Growth Fund
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7,216,771
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6,134,210
|
||||
Vanguard
Wellington Fund Investor Shares
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10,779,409
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9,838,781
|
||||
Vanguard
Retirement Savings Trust
|
23,595,003
|
23,403,378
|
||||
Vanguard
Morgan Growth Fund Investor Shares
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5,538,115
|
—
|
||||
Bristow
Group Inc. Stock
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8,852,128
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6,288,027
|
||||
Other
investments under 5%
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23,822,484
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17,444,129
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||||
TOTAL
INVESTMENTS
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$
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106,133,840
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$
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96,583,094
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Mutual
Funds
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$
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1,164,918
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|
Equity
Funds
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3,508,590
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||
Total
net appreciation
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$
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4,673,508
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BRISTOW
GROUP INC. EMPLOYEE SAVINGS AND RETIREMENT PLAN
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Plan
EIN 37-1478877
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SCHEDULE
H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)
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Plan
Number 001
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DECEMBER
31, 2007
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(a)
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(b)
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(c)
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(d)
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(e)
|
|||||
Identity
of Issue,
Borrower,
Lessor, or
Similar
Party
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Description
of Investment
Including
Maturity Date, Rate
Of
Interest, Collateral, Par or
Maturity
Value
|
Cost
|
Current
Value
|
||||||
*
|
Vanguard
Fiduciary
Trust
Company
|
Vanguard
500 Index Fund
Investor
Shares
|
^
|
$
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26,329,933
|
||||
*
|
"
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Vanguard
Explorer Fund
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^
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1,969,555
|
|||||
*
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"
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Vanguard
Extended Market Index
Fund
Investor Shares
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^
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1,647,377
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|||||
*
|
"
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Vanguard
International Growth Fund
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^
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7,216,771
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|||||
*
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"
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Vanguard
International Value Fund
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^
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1,581,988
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|||||
*
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"
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Vanguard
Target Retirement
2005
Fund
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^
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104,547
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|||||
*
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"
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Vanguard
Target Retirement
2010
Fund
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^
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130,880
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|||||
*
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"
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Vanguard
Target Retirement
2015
Fund
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^
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3,725,934
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|||||
*
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"
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Vanguard
Target Retirement
2020
Fund
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^
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546,112
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|||||
*
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"
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Vanguard
Target Retirement
2025
Fund
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^
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1,050,016
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|||||
*
|
"
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Vanguard
Target Retirement
2030
Fund
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^
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187,796
|
|||||
*
|
"
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Vanguard
Target Retirement
2035
Fund
|
^
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1,183,398
|
|||||
*
|
"
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Vanguard
Target Retirement
2040
Fund
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^
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93,896
|
|||||
*
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"
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Vanguard
Target Retirement
2045
Fund
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^
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575,885
|
|||||
*
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"
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Vanguard
Target Retirement
2050
Fund
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^
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69,333
|
|||||
*
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"
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Vanguard
Target Retirement
Income
Fund
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^
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634,613
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|||||
*
|
"
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Vanguard
Total Bond Market
Index
Fund
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^
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2,993,925
|
|||||
*
|
"
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Vanguard
Morgan Growth Fund Investor
Shares
|
^
|
5,538,115
|
|||||
*
|
"
|
Vanguard
Wellington Fund
Investor
Shares
|
^
|
10,779,409
|
|||||
*
|
"
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Vanguard
Windsor II Fund
Investor
Shares
|
^
|
4,168,944
|
|||||
*
|
"
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Vanguard
Retirement Savings
Trust
|
^
|
23,595,003
|
|||||
*
|
Bristow
Group Inc.
|
Bristow
Group Inc. Stock
|
^
|
8,852,128
|
|||||
Participant
loans
|
5%
- 9.25%, maturing at various dates
|
—
|
3,158,282
|
||||||
TOTAL
INVESTMENTS
|
$
|
106,133,840
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BRISTOW
GROUP INC. EMPLOYEE SAVINGS AND RETIREMENT PLAN
|
Plan
EIN 37-1478877
|
SCHEDULE
H, LINE 4i – SCHEDULE OF
REPORTABLE TRANSACTIONS
|
Plan
Number 001
|
DECEMBER
31, 2007
|
(a)
Identity
of
Party Involved
|
(b)
Description
of Asset
|
(c)
Purchase
Price
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(d)
Selling
Price
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(f)
Expense
Incurred
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(g)
Cost
of Asset
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(h)
Current
Value of Asset
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(i)
Net
Gain (Loss)
|
||||||||||||
Vanguard
|
Vanguard
500 Index Fund Investors Shares
|
$
|
4,659,623
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
4,659,623
|
$
|
—
|
||||||
"
|
Vanguard
500 Index Fund Investors Shares
|
—
|
7,501,504
|
—
|
5,725,539
|
7,501,504
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1,775,965
|
||||||||||||
"
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Vanguard
International Growth Fund
|
3,012,360
|
—
|
—
|
—
|
3,012,360
|
—
|
||||||||||||
"
|
Vanguard
International Growth Fund
|
—
|
2,127,524
|
—
|
1,838,273
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2,127,524
|
289,251
|
||||||||||||
"
|
Vanguard
Morgan Growth Fund Investor Shares
|
6,589,023
|
—
|
—
|
—
|
6,589,023
|
—
|
||||||||||||
"
|
Vanguard
Morgan Growth Fund Investor Shares
|
—
|
1,102,907
|
—
|
1,057,706
|
1,102,907
|
45,201
|
||||||||||||
"
|
Vanguard
Wellington Fund Investor Shares
|
3,361,909
|
—
|
—
|
—
|
3,361,909
|
—
|
||||||||||||
"
|
Vanguard
Wellington Fund Investor Shares
|
—
|
2,480,980
|
—
|
2,227,044
|
2,480,980
|
253,936
|
||||||||||||
"
|
Vanguard
Windsor II Fund Investor Shares
|
2,800,780
|
—
|
—
|
—
|
2,800,780
|
—
|
||||||||||||
"
|
Vanguard
Windsor II Fund Investor Shares
|
—
|
2,280,798
|
—
|
2,149,956
|
2,280,798
|
130,842
|
||||||||||||
"
|
Vanguard
Retirement Savings Trust
|
13,236,626
|
—
|
—
|
—
|
13,236,626
|
—
|
||||||||||||
"
|
Vanguard
Retirement Savings Trust
|
—
|
13,046,923
|
—
|
13,046,923
|
13,046,923
|
—
|
||||||||||||
"
|
Bristow
Group Inc. Stock
|
3,522,405
|
—
|
—
|
—
|
3,522,405
|
—
|
||||||||||||
"
|
Bristow
Group Inc. Stock
|
—
|
4,466,853
|
—
|
3,088,369
|
4,466,853
|
1,378,484
|
SIGNATURE
|
BRISTOW
GROUP INC. EMPLOYEE SAVINGS AND RETIREMENT
PLAN
|
Date:
|
June
30, 2008
|
By:
Bristow Group Inc., as Trustee to the
Plan
|
By: /s/ Elizabeth D.
Brumley
|
Elizabeth
D. Brumley
Vice
President and Chief Accounting
Officer
|
Exhibit
Number
|
Description
|
23.1
|
Consent
of Independent Registered Public Accounting
Firm
|