Wed, Nov. 9, 3:22 PM
- Helicopter operator Erickson (EAC -57%) today filed for relief under Chapter 11 bankruptcy, and will seek approval of $180M in debtor-in-possession financing.
- EAC reached its decision after oil and gas companies cut back on drilling operations during the slump in energy prices.
- EAC says profitability had declined since 2013 and that it could not overcome "sustained economic distress" in the oil and gas industry, adding that it plans to negotiate with lenders behind some of its ~$561M in debt.
Mon, Aug. 15, 4:03 PM
Sun, Aug. 14, 5:35 PM
Mon, Jul. 18, 1:46 PM
- Erickson Incorporated (NASDAQ:EAC) +4.75% announced a six-month extension of its current four-year contract for government sustainment. The contract extension is valued for ~$29M and funds operations for the remainder of 2016.
- Under the contract extension, Erickson will continue to provide airlift services for passengers and cargo.
- "This contract further enhances our reputation as a trusted provider of aerial services in support of U.S. Government operations and initiatives," said Brian Pierson, Vice President of Global Defense and Security at Erickson.
Thu, Jun. 9, 12:44 PM
Thu, Jun. 9, 11:52 AM
- Erickson (EAC -18.1%) has hired investment bank Imperial Capital, LLC, to explore strategic alternatives for the Company.
- Imparial Capital specializes in Aerospace, Defense and Government Services, and Airline and Transportation industries among others.
- “We are delighted to partner with a firm as reputable and experienced as Imperial Capital as we broaden Erickson’s financial capability,” said President and CEO Jeff Roberts.
- Previously: Erickson appoints new chief financial officer (Jun. 08 2016)
Wed, Jun. 8, 12:46 PM
Wed, Jun. 8, 12:15 PM
- Erickson (EAC -12.3%) has appointed airline finance veteran David W. Lancelot, as Chief Financial Officer effective Monday, June 13, 2016.
- “I am confident that having someone with David’s extensive expertise steeped in the aviation industry will help transform our business,” said Jeff Roberts, President and CEO of Erickson.
- Lancelot recently served as CEO of Outdoor Reservation Management Group, and SVP and CFO for Spirit Airlines (NASDAQ:SAVE).
- Mr. Struik will remain VP and CFO through June 10, 2016 and will continue to work with Mr. Lancelot to ensure a seamless transition.
Thu, May 5, 7:07 AM
- Erickson Air-Crane (NASDAQ:EAC): Q1 EPS of -$1.87 may not be comparable to consensus of -$0.51.
- Revenue of $46.8M (-29.3% Y/Y) misses by $15.2M.
Wed, May 4, 5:30 PM
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Thu, Mar. 3, 9:16 AM
- Erickson Air-Crane (NASDAQ:EAC): Q4 EPS of -$1.21
- Revenue of $60.91M (-16.8% Y/Y) misses by $2.07M.
Wed, Mar. 2, 5:30 PM
Dec. 31, 2015, 12:40 PM
Nov. 10, 2015, 12:48 PM
Nov. 5, 2015, 5:53 PM
- Erickson Air-Crane (NASDAQ:EAC): Q3 EPS of $0.70 misses by $0.45.
- Revenue of $101.13M (-14.5% Y/Y) misses by $20.47M.
- Shares -0.61% AH.
Nov. 4, 2015, 5:35 PM
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