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Rotorcraft
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ERICKSON AIR-CRANE ANNOUNCES PURCHASE OF FIVE AIRCRAFT
Friday, May 17, 2013
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Source: Erickson Air-Crane
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PORTLAND, Ore. - Erickson Air-Crane's Evergreen Helicopters subsidiary has acquired five aircraft for $10.1 million that it has historically leased from a third party. The acquired aircraft include two Bell 214STs, two Beechcraft 1900Ds, and one CASA 212-CC. The company's total fleet size remains unchanged at 85 aircraft, now comprising 35 leased and 50 owned aircraft.
Udo Rieder, the CEO of Erickson, said, "Given our strong financial position and flexibility, we decided to opportunistically purchase some aircraft which we consider key to our product offering, while at the same time eliminating annual and future lease obligations." The acquisition of the aircraft will eliminate $3.0 million of annual lease expense and $12.2 million of total future lease obligations, and increases the company's asset collateral base.
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Source:
Erickson Air-Crane
Associated URL:
ericksonaircrane.com
Source Date: May 17, 2013
Posted: 05/21/2013
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