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 Eras 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 liab ilities, claims, counterclaims, demands, complaints, costs, losses and expenses relating to the Action and to dismiss the Action with prejudice without any party admitting fault.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Era Group Inc.
Date: July 5, 2018
/s/ Jennifer D. Whalen
Jennifer D. Whalen
Senior Vice President and Chief Financial Officer
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