Mark Huber is an aviation industry veteran who has worked in the flight training, aircraft sales, aircraft component, and airport development businesses. He has flight time in more than 50 different and diverse aircraft, including helicopters, aerobatic aircraft, vintage warbirds, jet fighters, business jets and turboprops, and transport-category aircraft. He has jumped out of several of these—on purpose—with a parachute. His defense and aviation journalism has been published in a variety of national and international periodicals.

Contributor

Mark Huber

Helicopter services company Erickson posted a net loss of $75 million for the first quarter of the year. The company attributed the unusually hefty loss in large part to a one-time impairment-of-goodwill charge of $49.8 million and an additional $7.1 million charge on fleet aircraft available for sale. In the same period a year ago the company posted a loss of $7.6 million. While the first-quarter results exceeded company guidance, new president Jeff Roberts said Erickson “cannot be satisfied” with it.
“We continue to focus on the need to increase our revenue, improve our cost structure and drive significant, sustainable free cash flow. We are taking strategic actions and making investments in our business to improve results,” Roberts said.
Quarterly revenue was $66.2 million, a decline of $8 million, or 10.8 percent, from the prior year. While the company’s manufacturing and MRO businesses continued to grow, with revenue climbing to $7 million from $2.7 million during the prior-year period, revenue from government and commercial helicopter contracts continued to fall, to $62.8 million from $67.8 million a year ago. Erickson ascribed the reduction in government revenue in large part to a scaleback in the company’s operations in Afghanistan.
Erickson reduced capital spending to $5.7 million compared with $17.5 million in the prior-year period. As of March 31 this year, it had $103.9 million drawn on its revolving credit facility (excluding the letters of credit) and $2.9 million in cash on its balance sheet.

News and issues regarding all manner of civil and military rotorcraft and their powerplants, including helicopters, tilt rotors and unmanned air vehicles.

Erickson Posts Huge Loss

The company attributed the $75 million loss to a one-time impairment-of-goodwill charge of $49.8 million.

2024 Corporate Aviation Leadership Summit

Matt Thurber

New developments and products in avionics, specifically about aircraft electronics in the cockpit.

News and issues relating to business, corporate and private aviation, primarily regarding turbine-engine-powered airplanes and helicopters. Subjects include aircraft, engines, maintenance, operations, personnel, acquisitions, accidents, safety, security, and training.

The upgrade makes the helicopter much simpler to fly

ACE Aero Modding Black Hawks with Skyryse Controls

News and issues about aviation maintenance, repair and overhaul (MRO), covering all segments of the aviation industry; and modifications for aircraft and engines. Subjects include product support of aircraft, engines and avionics, MRO company mergers, acquisitions, announcements and personnel, Airworthiness Directives, Supplemental Type Certificate approvals and other topics.

Move will help increase availability and lower direct operating costs

Sikorsky Lengthens S-92 Inspection Intervals

Shipment to New Zealand will take place next year after paint and upgrades

Northern Rescue Growing Fleet to Five AW169 Helicopters

Plans call for growing the department's public safety presence

Fort Worth Police Buy Second Bell 505

AmyWilder

News about bills, laws, regulations and other governmental decisions affecting aviation and aerospace. Topics include FAA re-authorizations, taxes on fuel and aviation activities, environmental legislation, ICAO decisions, governmental mediation of labor conflicts and World Trade Organization disputes and decisions.

News about simulators and training procedures, as well as workforce.

Key innovations and safety updates event highlights

European Rotors 2024 Focuses on Vertical Flight Future

News and developments about aircraft engines, including turbofan, turboprop, turboshaft and piston.

More In Rotorcraft

ACE Aero Modding Black Hawks with Skyryse Controls

The upgrade makes the helicopter much simpler to fly

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Move will help increase availability and lower direct operating costs

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Shipment to New Zealand will take place next year after paint and upgrades

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Plans call for growing the department's public safety presence

European Rotors 2024 Focuses on Vertical Flight Future

Key innovations and safety updates event highlights

Rotortrade Partners with Safran, Joins Mentor Program

Preowned helicopter specialist is expanding its capabilities

Bell Logs Sales for 505 and 407GXi Helicopters

Includes the sale of the 100th Bell 505 in Europe

FAA Releases 2023 Helo Air Ambulance Ops Data Summary

Six accidents, two with fatalities, took place during calendar year 2023

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