Air Methods to Acquire Blue Hawaiian Helicopters
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Air Methods to Acquire Blue Hawaiian Helicopters
Air Methods to Acquire Blue Hawaiian Helicopters
Air Methods to Acquire Blue Hawaiian Helicopters - WSJ.com
DENVER, Nov. 18, 2013 (GLOBE NEWSWIRE) -- Air Methods Corporation (Nasdaq:AIRM), the global leader in air medical transportation, announced today that it has entered into a definitive agreement to acquire 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, "the acquisition of Blue Hawaiian, when combined with Sundance Helicopters, our aerial tour operator acquired in December 2012, will position Air Methods Tours as the leading aerial tour provider in two of the most coveted tourism venues in the United States: the Las Vegas/Grand Canyon region and Hawaii."
Air Methods believes the acquisition of Blue Hawaiian will be accretive to earnings per share at levels consistent with the acquisition of Sundance Helicopters. The transaction is expected to close in the fourth quarter of 2013, subject to receipt of required local regulatory approvals and the satisfaction of customary closing conditions.
Aaron Todd, Air Methods' Chief Executive Officer, stated, "the acquisition of Blue Hawaiian, when combined with Sundance Helicopters, our aerial tour operator acquired in December 2012, will position Air Methods Tours as the leading aerial tour provider in two of the most coveted tourism venues in the United States: the Las Vegas/Grand Canyon region and Hawaii."
Air Methods believes the acquisition of Blue Hawaiian will be accretive to earnings per share at levels consistent with the acquisition of Sundance Helicopters. The transaction is expected to close in the fourth quarter of 2013, subject to receipt of required local regulatory approvals and the satisfaction of customary closing conditions.
