Charter & Fractional
Helo Operator Era Group Posts Another Loss
Revenue fall blamed on "lower utilization in U.S. oil and gas operations, fewer search and rescue subscribers and the end of some dry-leasing contracts."

Helicopter services company Era Group this week reported a wider first-quarter loss on lower revenues. The downturn is attributable mainly to the continuing softness in the offshore energy market. Its quarterly loss grew to $5.6 million on operating revenues of $54.5 million, versus a $3.8 million loss and revenues of $62.6 million in the same period last year. Earnings before interest, taxes, depreciation and amortization were also down $7 million in the current quarter, from $12.2 million a year ago.

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