Air Methods Closes Acquisition of Blue Hawaiian Helicopters
DENVER, Dec. 16, 2013 (GLOBE NEWSWIRE) -- Air Methods Corporation
(Nasdaq:AIRM), the global leader in air medical transportation, announced
today that it has successfully completed its acquisition of Blue Hawaiian
Helicopters and its affiliates ("Blue Hawaiian"), a helicopter tour operator
based in Hawaii. Founded in 1985, Blue Hawaiian is one of the world's largest
aerial tour operators and is the premier helicopter tour company in the State
of Hawaii, offering a diverse portfolio of twelve scheduled tours on five of
Hawaii's six tourist islands. Blue Hawaiian operates a fleet of 24 helicopters
consisting of Eurocopter AS350s and EC130s. Blue Hawaiian generated
consolidated revenue of approximately $47 million for the fiscal year ended
December 31, 2012.
Aaron Todd, Air Methods' Chief Executive Officer, stated, "Air Methods is very
pleased to have completed the acquisition of Blue Hawaiian, a 'blue chip' tour
company with best-in-class air fleet, pilots, management and tours. The
addition of Blue Hawaiian significantly strengthens Air Methods' Tourism
Division and continues our focus on vertical integration and the search for
key aviation adjacencies to our core business. We look forward to Blue
Hawaiian joining the Air Methods family."
"Blue Hawaiian is the dominant force in the strong Hawaiian air tour market.
The efficiency and synergies between Air Methods and its existing tour
operator, Sundance Helicopters, will benefit the core strength of Blue
Hawaiian and the entire group," said David Chevalier, Blue Hawaiian's Chief
Air Methods Corporation (www.airmethods.com) is the global leader in air
medical transportation. The Air Medical Services Division is the largest
provider of air medical transport services in the United States. The United
Rotorcraft Division specializes in the design and manufacture of aeromedical
and aerospace technology. The Tourism Division is comprised of Sundance
Helicopters, Inc. and Blue Hawaiian Helicopters, which provides helicopter
tours and charter flights in the Las Vegas/Grand Canyon region and Hawaii,
respectively. Air Methods' fleet of owned, leased or maintained aircraft
features over 400 helicopters and fixed wing aircraft.
Forward Looking Statements: Forward-looking statements in this news release
are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Statements in this press release that are
"forward-looking statements", including statements regarding Blue Hawaiian
Helicopters' anticipated impact to Air Methods' Tourism Division and expected
synergies between Air Methods' Tourism Division and Blue Hawaiian Helicopters,
are based on current expectations and assumptions that are subject to risks
and uncertainties. Actual results could differ materially from those currently
anticipated due to a number of factors, including but not limited to, the
Company's ability to realize key aviation adjacencies associated with the
acquisition; expansion of the Company's tourism division, changes to general,
domestic and foreign economic conditions; extreme weather conditions across
the U.S.; development and changes in laws and regulations; increased
regulation of the aviation industry through legislative action and revised
rules and standards; and other matters set forth in the Company's filings with
the SEC. The Company is under no obligation (and expressly disclaims any
obligation) to update or alter its forward-looking statements, whether as a
result of new information, future events or otherwise.
Please contact Christine Clarke at (303) 792-7579 to be included on the
Company's fax and/or mailing list.
CONTACT: Trent J. Carman, Chief Financial Officer, (303) 792-7591.
Air Methods Corporation
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