Erickson expands as profits rise

USA-based heavy lift helicopter operator and manufacturer Erickson Air-Crane reported a 53% increase in third quarter earnings to achieve US$ 17.6 million.

Erickson, which manufactures, maintains and makes spare parts for its fleet of Sikorsky-64 helicopters, reported a 29% revenue gain over the third quarter of 2011 to $76.3 million.

Aerial service revenue rose 31% to $69.6 million while revenue flight hours increased by 41% to 5,843 hours.

The company has also announced expansion plans for South America, as it plans to acquire the air logistics unit of HRT Participaes em Petroleo, one of the largest independent oil and natural gas explorers and producers in Brazil.

The buyout will include 14 medium and light helicopters, which will significantly increase Erickson's capability in South America. HRT also owns seven smaller Sikorsky-61 aircraft.

Erickson’s acquisition of HRT is expected to complete in mid 2013. Financial details were undisclosed.