Era Group Repurchases Under the Previously Announced Special Stock Repurchase Program

HOUSTON, April 24, 2020 (GLOBE NEWSWIRE) -- Era Group Inc. (NYSE:ERA) (“Era”) announced today that on April 21, 2020 it repurchased an aggregate of 54,099 shares of its common stock at an average price of $3.64 per share, on April 22, 2020 it repurchased an aggregate of 46,027 shares of its common stock at an average price of $3.81 per share and on April 23, 2020 it repurchased an aggregate of 24,036 shares of its common stock at an average price of $4.23 per share under its previously announced special stock repurchase program, which allows for the purchase of up to $10 million of its common stock (the “Program”). All shares of common stock repurchased under the Program will be held as treasury shares. Following the repurchase of shares under the Program to date, Era will have 21,632,110 shares of common stock outstanding.

The total number of shares repurchased under this program to date is 124,162 shares of common stock for a total consideration of $0.5 million leaving $9.5 million available under the Program.

ABOUT ERA GROUP

Era is one of the largest helicopter operators in the world and the longest serving helicopter transport operator in the U.S. In addition to servicing its U.S. customers, Era provides helicopters and related services to customers and third-party helicopter operators in other countries, including Brazil, Chile, Colombia, India, Mexico, Spain, and Suriname. Era’s helicopters are primarily used to transport personnel to, from and between offshore oil and gas production platforms, drilling rigs and other installations. In addition, Era’s helicopters are used to perform emergency response services, firefighting, utility, VIP transport and other services. Era also provides a variety of operating lease solutions and technical fleet support to third party operators. To learn more, visit our website at www.erahelicopters.com. 

ABOUT BRISTOW GROUP

Bristow Group Inc. is the world’s leading provider of offshore oil and gas transportation, search and rescue (“SAR”) and aircraft support services to government and civil organizations worldwide. Bristow’s strategically located global fleet supports operations in the North Sea, Nigeria and the U.S. Gulf of Mexico; as well as in most of the other major offshore oil and gas producing regions of the world, including Australia, Brazil, Canada, Guyana and Trinidad. Bristow provides SAR services to the private sector worldwide and to the public sector for all of the United Kingdom on behalf of the Maritime and Coastguard Agency. To learn more, visit the Bristow website at www.bristowgroup.com.