The Louisiana-based helicopter operator PHI Group filed an amended S-1 prospectus with the U.S. Securities and Exchange Commission (SEC) on Dec. 18 for an initial public offering (IPO) on the New York Stock Exchange.
Its first IPO filing was Oct. 4. When the stock begins trading, it will be under the ticker symbol ROTR with 24,267,599 shares outstanding.
PHI Group, with HQ in Lafayette, La., qualifies as an “emerging growth company” due to recent annual revenues being less than $1.235B.
PHI is taking advantage of some JOBS Act exemptions from reporting requirements that normally apply to companies going public.
PHI operates helicopters that serve global oil and gas exploration and air-medical transportation, and also provides MRO services at its Lafayette HQ.
Its fleet includes 213 aircraft, 189 of which it owns, [20 leases and four PHI manages on behalf of air-medical services' owners].
Five of the PHI-owned aircraft are fixed-wing (four Bombardier Learjet 31As and one Beechcraft King Air), and the remainder are light, medium, and heavy helicopters.
Although there is strong demand for heavy helicopters by O&G, PHI plans to replace “a significant part” of its Sikorsky S-92 fleet due to supply chain challenges with delayed parts and repairs.
PHI plans to add more super-medium Airbus H175s and has options for an additional 18, on top of the 20 that it ordered in September, as well as eight medium H160s. AHI builds those helicopters at its Columbus, Miss., facility.
Airbus and Shell have selected PHI to help launch the route-proving program for the H160.
Discussions are underway with Leonardo on a possible order for the super-medium AW189, which would join PHI’s fleet of 17 AW139s and three AW109s.
PHI’s revenue breakdown during 2022 was 40.2% PHI Americas, 19.9% PHI International and 39.9% PHI Health.
For the first nine months of 2023, revenues reached $659,612,000, up from $558,028,000 during the same period of 2022. (AINOnline 01/08/24) Helicopter Operator PHI Group Files Public Stock Offering | Aviation International News (ainonline.com)
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