Era profits on asset sales, as offshore ops merge

摘要

Merger fever is coming to the offshore helicopter oil patch, as companies appear to be looking toward consolidation as a survival strategy. Meanwhile, the financial red tide continues, with companies using asset disposal as the chief means to improve financial performance. Helicopter services company Era Group announced in late July that it posted $4.9 million in net income for the second quarter, but the positive results were assisted from a one-time $10.9 million gain from the disposal of its 50 percent share in helicopter aftermarket component manufacturer Dart.