Wednesday, November 25, 2015
Era Gets Lifeline for Brazilian Contract
Era Group now has 40 days left to revive a soon-to-expire offshore transport contract with Petrobras. The struggling Brazilian oil giant contract with Era for offshore support with three Airbus Helicopters H225s was set to expire this month, Era said, but Petrobras extended it to early January. In the meantime, Era said, its Brazilian joint venture, Aeróleo Táxi Aéreo S/A, will work "to secure a long-term extension" of that contract. Era's work with Petrobras came into question after the oil company dropped Era’s tender for a new 10-helicopter contract, citing financial hardships.