June 02, 2005
Thursday

Anchorage, Alaska - Era Aviation Investment Group LLC (EAIG) announced Wednesday that it has entered into an agreement with SEACOR Holdings Inc. to acquire Alaska-based regional airline, Era Aviation, Inc. For the first time since 1991, all of the airline's officers and management positions will be filled by long-time Alaskans, living in Alaska with extensive experience at Era. Paul Landis will serve as president and CEO. Marcia Davis will serve as executive vice president and general counsel. EAIG is made up of a private group of investors primarily based on the U.S. West Coast.

Executives from both organizations expect to be able to close the transaction within the next 45 to 60 days. Under the agreement, EAIG will acquire all airline operations and will operate under the name Era Aviation, Inc. SEACOR will retain ownership of the Era Aviation Center which provides fixed based services to corporate aircraft and will continue to provide services under contract to the airline.

"We were excited about the opportunity to acquire an airline with such a great management team and employees. They have been very supportive throughout the sale process," said Willie Charles Gault, one of the managers of EAIG. "One of the key factors in our decision to acquire the airline was the great reputation that Era Aviation has in the state of Alaska."

"We are very excited about the transaction," said Paul Landis. "EAIG shares our vision of what Era is and can be in the future, and we look forward to bringing Era into a new phase of growth and success."

The acquisition will not affect current flights and customers can expect the same superior service during the transition.

"We look forward to working with SEACOR to make this transition as smooth as possible," Landis said. "As always, safety, customer service, and employee satisfaction will remain our top priorities during and after the acquisition."

In addition to passenger service, Era provides an important air cargo link throughout the state. Era airline flights serve Southcentral and Western Alaska, using a combination of deHavilland Dash-8 and Twin Otter aircraft.

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