Offshore Logistics, Inc. Announces Award of Contract
LAFAYETTE, La.--(BUSINESS WIRE)--June 22, 2001--Offshore Logistics, Inc., (NASDAQ: OLOG) announced today that its wholly owned subsidiary, Air Logistics, L.L.C., was awarded a five-year renewal of its contract with the Office of Aircraft Services to provide all of the helicopter flight support for the Minerals Management Service and U.S. Coast Guard in the Gulf of Mexico. The contract renews on October 1, 2001, requiring seventeen (17) helicopters at seven bases and will generate revenues in excess of $70 million over its term.
George Small, President of OLOG stated, "We are obviously very pleased with their decision to stay with Air Logistics and view this as a testament to the hard work and effort expended by Air Logistics personnel in servicing the MMS's and Coast Guard's needs since the original contract began in February 1996. They can expect no less from us during the renewal term." |
