Erickson battles Fires in Chile

PORTLAND, Ore., March 07, 2017 -- Erickson Incorporated, a leading global provider of aviation services, has recently been contracted by the National Forest Corporation or CONAF (Corporación Nacional Forestal) to help battle one of the worst wildfire seasons in the history of Chile. 

High temperatures, strong winds and drought have contributed to a series of fires since November, and a massive wildfire worsened when it converged with the town of Santa Olga, where several people perished and more than 1,000 buildings burned. The Chilean President Michelle Bachelet calls the fires, “the greatest forest disaster in the country’s history” and officials estimate that more than 700,000 acres have burned.  The fires are yet another challenge for a country riddled with recent floods and earthquakes.

Andrew Mills, vice president of Business Development has been in Chile and observes, “The people of Chile really need our help with fires that are far beyond the normal scope of the fire season, and they have been very pleased to see the immediate effectiveness of the Aircrane.”

Erickson has signed a 90 day contract for the Aircrane, the pilots and crew. Each of Erickson’s Aircranes have a nickname, and the assigned aircraft is named, “Elvis” which is the best known of Erickson’s aircraft due to heroic firefighting feats performed by its crew in Australia six years ago, saving many lives and homes during large bushfires.

The Erickson S-64 Aircrane, equipped with a heli-tanker, is well known for its firefighting capability. The tank on the Aircrane can hold and drop 2,650 gallons (7,500 liters) of water or fire retardant on fires in a single pass. With specialized snorkels, the Aircrane can also refill the tank in nearby bodies of water in less than 30 seconds. Water also can be trucked in and held in large pumpkin-shaped tanks to be snorkeled out by our expert pilots. This is an advantage over fixed-wing aircraft that must return to an airport to reload. The Aircrane can also drop water with pinpoint accuracy and help save homes and businesses in the Wildland Urban Interface (WUI). This technique is also valuable for support to the firefighters on the ground to help keep them safe from life-threatening situations.

About Erickson

Erickson is a leading global provider of aviation services and operates, maintains and manufactures utility aircraft to safely transport and place people and cargo around the world.  The Company is self-reliant, multifaceted and operates in remote locations under challenging conditions specializing in Global Defense and Security, Manufacturing and MRO, and Civil Aviation Services (comprised of firefighting, HVAC, transmission line, construction, timber harvesting, oil and gas and specialty lift). With roots dating back to 1960, Erickson operates a fleet of approximately 69 aircraft, is headquartered in Portland, Oregon, USA, and operates in North America, South America, Europe, the Middle East, Africa, Asia Pacific, and Australia. For more information, please visit our website at www.ericksoninc.com.

This press release certain statements relating to future results (including, without limitation, “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “plan,” “expect,” “predict”), which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements, including those relating to the intent, beliefs, plans or expectations of the Company are based upon current expectations and are subject to a number of risks, uncertainties and assumptions. It is not possible to predict or identify all such factors and the following list should not be considered a complete statement of all potential risks and uncertainties relating to the Company, which include, but are not limited to: (i) the Company’s ability to obtain the Bankruptcy Court’s approval with respect to motions or other requests made to the Bankruptcy Court in the Chapter 11 Cases, including maintaining strategic control as debtor-in-possession, (ii) the ability of the Company and its subsidiaries to negotiate, develop, confirm and consummate a plan of reorganization, (iii) the effects of the filing of the bankruptcy petitions on the Company’s business and the interests of various constituents, (iv) the Bankruptcy Court rulings in the Chapter 11 Cases, as well the outcome of all other pending litigation and the outcome of the Chapter 11 Cases in general, (v) the length of time that the Company will operate under Chapter 11 protection and the continued availability of operating capital during the pendency of the Chapter 11 proceedings, (vi) risks associated with third party motions in the Chapter 11 Cases, which may interfere with the Company’s ability to confirm and consummate a plan of reorganization, (vii) the potential adverse effects of the Chapter 11 proceedings on the Company’s liquidity or results of operations, (viii) increased advisory costs to execute the Company’s reorganization, (ix) the impact of the NASDAQ delisting on the Company’s ability to access the public capital markets, (x) the uncertainty that any trading market for the Company’s common stock will exist or develop in the over-the-counter markets, (xi) the findings of the audit committee with respect to errors in the Company’s previously issued financial statement, that the Company may be unable to timely prepare and file financial information correcting the errors and the uncertainty as to whether any additional accounting errors or other issues are identified, (xii) the Company’s ability to continue as a going concern; and other risks disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 and quarterly report on Form 10-Q for the quarter ending June 30, 2016 filed with the U.S. Securities and Exchange Commission These risks and uncertainties could cause actual results to differ materially from those described in the forward-looking statements. You should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact
Susan Bladholm - Media requests
(503) 319.2164, [email protected]

Zachary Cotner - Investor Relations
(503) 505.5804, [email protected]