10-Jul-2018 Source: Era Group
The following statement, issued by Era Group to the US Securities & Exchange Commission (original here), states that Airbus has agreed a $42 Million payout to Era relating to the operators purchase of eleven H225s.
“On July 3, 2018, Era Group Inc. (the “Company”) and Era Helicopters, LLC (together with the Company “Era”), entered into a litigation settlement agreement (the “Settlement Agreement”) with Airbus Helicopters, Inc. and Airbus Helicopters, S.A.S. (together “Airbus”) in the matter of Era Group Inc., and Era Helicopter, LLC v. Airbus Helicopters, Inc., and Airbus Helicopters, S.A.S (the “Action”). The Settlement Agreement settles all claims made by Era against Airbus related to Airbus’ marketing and sale, and Era’s purchase, of eleven H225 model helicopters. Pursuant to the Settlement Agreement, Airbus has agreed to pay Era $42.0 million in cash and provide Era with certain trade account credits that may be used by Era for up to five years. Era has agreed to release Airbus from any and all liabilities, claims, counterclaims, demands, complaints, costs, losses and expenses relating to the Action and to dismiss the Action with prejudice without any party admitting fault.”