Bristow currently operates a number of coastguard helicopters
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An Aberdeen-based firm hopes to secure the contact to provide search and rescue helicopter cover across the UK.
Bristow helicopters has joined a consortium with major helicopter providers, FB Heliservices and Serco.
The UK government announced it intended to privatise the services in May to deliver better value for the taxpayer.
Helicopter cover, which is currently provided by the RAF, the Navy and the coastguard, will be handed over to a single civilian operator in 2012.
The contract is expected to run for 20 to 30 years and will be worth several billion pounds.
Bristow currently operate the four coastguard helicopters at Sumburgh, Stornoway, Lee on the Solent, and Portland.
However, it lost that contract when it was re-tendered last year.
It will be operated CHC helicopters from next summer until the launch of the new privatised search and rescue service in 2012.