Bristow (VTOL) 10-Q 5 Nov 19 2019 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	ERA GROUP INC.
Entity Central Index Key	0001525221
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		21,288,619
Entity Shell Company	false
Entity Current Reporting Status	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents (including $1,843 and $1,745 from VIEs in 2019 and 2018, respectively)	[1]	$ 107,736	$ 50,753
Receivables:
Trade, operating, net of allowance for doubtful accounts of $176 and $261 in 2019 and 2018, respectively (including $6,177 and $5,565 from VIEs in 2019 and 2018, respectively)		31,312	33,306
Trade, dry-leasing		5,864	3,803
Tax receivables (including $2,705 and $3,187 from VIEs in 2019 and 2018, respectively)		2,705	3,187
Other (including $21 and $340 from VIEs in 2019 and 2018, respectively)		11,567	2,343
Inventories, net (including $42 and $40 from VIEs in 2019 and 2018, respectively)		20,826	20,673
Prepaid expenses (including $72 and $10 from VIEs in 2019 and 2018, respectively)		2,851	1,807
Total current assets		182,861	115,872
Property and equipment (including $1,468 and $1,375 from VIEs in 2019 and 2018, respectively)		901,580	917,161
Accumulated depreciation (including $584 and $485 from VIEs in 2019 and 2018, respectively)		(334,730)	(317,967)
Property and equipment, net		566,850	599,194
Operating lease right-of-use (including $1,812 from VIEs in 2019)		9,907
Equity investments and advances		0	27,112
Intangible assets		1,094	1,107
Other assets (including $403 and $96 from VIEs in 2019 and 2018, respectively)		6,363	21,578
Total assets		767,075	764,863
Current liabilities:
Accounts payable and accrued expenses (including $1,433 and $1,522 from VIEs in 2019 and 2018, respectively)		11,940	13,161
Accrued wages and benefits (including $1,654 and $1,429 from VIEs in 2019 and 2018, respectively)		8,960	9,267
Accrued interest		3,321	569
Accrued income taxes		2,945	973
Accrued other taxes (including $270 and $500 from VIEs in 2019 and 2018, respectively)		1,986	1,268
Accrued contingencies (including $548 and $630 from VIEs in 2019 and 2018, respectively)		548	630
Current portion of long-term debt (including $182 and $395 from VIEs in 2019 and 2018, respectively)		1,845	2,058
Other current liabilities (including $378 and $0 from VIEs in 2019 and 2018, respectively)		2,851	878
Total current liabilities		34,396	28,804
Long-term debt		158,731	160,217
Deferred income taxes		105,440	108,357
Operating lease liabilities (including $1,434 from VIEs in 2019)		8,166
Other liabilities		850	747
Total liabilities		307,583	298,125
Commitments and contingencies
Redeemable noncontrolling interest		2,945	3,302
Equity:
Common stock, $0.01 par value, 60,000,000 shares authorized; 21,288,619 and 21,765,404 outstanding in 2019 and 2018, respectively, exclusive of treasury shares		224	219
Additional paid-in capital		451,103	447,298
Retained earnings		15,372	18,285
Treasury shares, at cost; 1,149,820 and 156,737 shares in 2019 and 2018, respectively		(10,152)	(2,476)
Accumulated other comprehensive income, net of tax		0	110
Total equity		456,547	463,436
Total liabilities, redeemable noncontrolling interest and stockholders’ equity		$ 767,075	$ 764,863
[1]	Refer to footnote 5 for more detail on variable interest entities (“VIE”)

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands		Sep. 30, 2019	Dec. 31, 2018
Cash and cash equivalents	[1]	$ 107,736	$ 50,753
Allowance for doubtful accounts, trade receivables		176	261
Trade, operating, net of allowance for doubtful accounts		31,312	33,306
Tax receivables		2,705	3,187
Other		11,567	2,343
Inventories, net		20,826	20,673
Prepaid expenses		2,851	1,807
Property and equipment		901,580	917,161
Accumulated depreciation		334,730	317,967
Operating lease right-of-use		9,907
Other assets		6,363	21,578
Accounts payable and accrued expenses		11,940	13,161
Accrued wages and benefits		8,960	9,267
Accrued other taxes		1,986	1,268
Accrued contingencies		548	630
Current portion of long-term debt		1,845	2,058
Other current liabilities		2,851	$ 878
Operating lease liabilities		$ 8,166
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares authorized (in shares)		60,000,000	60,000,000
Common stock, shares outstanding (in shares)		21,288,619	21,765,404
Treasury shares (in shares)		1,149,820	156,737
Variable Interest Entity, Primary Beneficiary
Cash and cash equivalents		$ 1,843	$ 1,745
Trade, operating, net of allowance for doubtful accounts		6,177	5,565
Tax receivables		2,705	3,187
Other		21	340
Inventories, net		42	40
Prepaid expenses		72	10
Property and equipment		1,468	1,375
Accumulated depreciation		584	485
Operating lease right-of-use		1,812
Other assets		403	96
Accounts payable and accrued expenses		1,433	1,522
Accrued wages and benefits		1,654	1,429
Accrued other taxes		270	500
Accrued contingencies		548	630
Current portion of long-term debt		182	395
Other current liabilities		378	$ 0
Operating lease liabilities		$ 1,434
[1]	Refer to footnote 5 for more detail on variable interest entities (“VIE”)

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Total revenues	$ 58,909	$ 54,610	$ 165,682	$ 169,660
Costs and expenses:
Operating	39,522	36,513	115,038	114,505
Administrative and general	9,142	8,837	26,912	35,714
Depreciation and amortization	9,312	9,541	28,282	30,011
Total costs and expenses	57,976	54,891	170,232	180,230
Gains (losses) on asset dispositions, net	754	(148)	562	2,269
Litigation settlement proceeds	0	42,000	0	42,000
Operating income (loss)	1,687	41,571	(3,988)	33,699
Other income (expense):
Interest income	956	732	2,642	1,224
Interest expense	(3,464)	(3,549)	(10,357)	(11,646)
Loss on sale of investments	0	0	(569)	0
Foreign currency losses, net	(718)	(94)	(574)	(1,095)
Gains (losses) on debt extinguishment	0	0	(13)	175
Other, net	(5)	15	(25)	21
Total other income (expense)	(3,231)	(2,896)	(8,896)	(11,321)
Income (loss) before income taxes and equity earnings	(1,544)	38,675	(12,884)	22,378
Income tax expense	515	7,861	321	4,549
Income (loss) before equity earnings	(2,059)	30,814	(13,205)	17,829
Equity earnings, net of tax	0	465	9,935	1,577
Net income (loss)	(2,059)	31,279	(3,270)	19,406
Net loss attributable to noncontrolling interest in subsidiary	149	10	357	310
Net income (loss) attributable to Era Group Inc.	$ (1,910)	$ 31,289	$ (2,913)	$ 19,716
Income (loss) per common share, basic and diluted (in dollars per shares)	$ (0.09)	$ 1.44	$ (0.14)	$ 0.91
Weighted average common shares outstanding:
Basic (in shares)	20,625,408	21,215,576	21,129,722	21,139,212
Diluted (in shares)	20,629,328	21,239,189	21,131,029	21,156,466
Operating revenues
Revenues:
Total revenues	$ 54,659	$ 51,894	$ 153,569	$ 161,116
Dry-leasing revenues
Revenues:
Total revenues	$ 4,250	$ 2,716	$ 12,113	$ 8,544

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (2,059)	$ 31,279	$ (3,270)	$ 19,406
Other comprehensive loss:
Foreign currency translation adjustments, net	0	0	(110)	(5)
Total other comprehensive loss	0	0	(110)	(5)
Comprehensive income (loss)	(2,059)	31,279	(3,380)	19,401
Comprehensive loss attributable to noncontrolling interest in subsidiary	149	10	357	310
Comprehensive income (loss) attributable to Era Group Inc.	$ (1,910)	$ 31,289	$ (3,023)	$ 19,711

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Changes in Redeemable Noncontrolling Interest and Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Shares	Accumulated Other Comprehensive Income
Beginning Balance at Dec. 31, 2017	$ 3,766
Increase (Decrease) in Temporary Equity [Roll Forward]
Net loss attributable to redeemable noncontrolling interest	(310)
Ending Balance at Sep. 30, 2018	3,456
Beginning Balance at Dec. 31, 2017	445,681	$ 215	$ 443,944	$ 4,363	$ (2,951)	$ 110
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock grants		3	(3)
Employee Stock Purchase Plan	893	1	892
Share award amortization	2,180		2,180
Net income (loss)	19,406			19,406
Net loss attributable to redeemable noncontrolling interest	310			310
Ending Balance at Sep. 30, 2018	468,470	219	447,013	24,079	(2,951)	110
Beginning Balance at Jun. 30, 2018	3,466
Increase (Decrease) in Temporary Equity [Roll Forward]
Net loss attributable to redeemable noncontrolling interest	(10)
Ending Balance at Sep. 30, 2018	3,456
Beginning Balance at Jun. 30, 2018	436,048	219	445,885	(7,210)	(2,951)	105
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Employee Stock Purchase Plan	409		409
Share award amortization	719		719
Net income (loss)	31,279			31,279
Net loss attributable to redeemable noncontrolling interest	10			10
Currency translation adjustments, net of tax	5					5
Ending Balance at Sep. 30, 2018	468,470	219	447,013	24,079	(2,951)	110
Beginning Balance at Dec. 31, 2018	3,302
Increase (Decrease) in Temporary Equity [Roll Forward]
Net loss attributable to redeemable noncontrolling interest	(357)
Ending Balance at Sep. 30, 2019	2,945
Beginning Balance at Dec. 31, 2018	463,436	219	447,298	18,285	(2,476)	110
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock grants		4	(4)
Employee Stock Purchase Plan	1,077	1	1,076
Share award amortization	2,733		2,733
Purchase of treasury shares	(7,676)				(7,676)
Net income (loss)	(3,270)			(3,270)
Net loss attributable to redeemable noncontrolling interest	357			357
Currency translation adjustments, net of tax	(110)					(110)
Ending Balance at Sep. 30, 2019	456,547	224	451,103	15,372	(10,152)	0
Beginning Balance at Jun. 30, 2019	3,094
Increase (Decrease) in Temporary Equity [Roll Forward]
Net loss attributable to redeemable noncontrolling interest	(149)
Ending Balance at Sep. 30, 2019	2,945
Beginning Balance at Jun. 30, 2019	458,662	224	449,687	17,282	(8,531)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Employee Stock Purchase Plan	487	0	487
Share award amortization	929		929
Purchase of treasury shares	(1,621)				(1,621)
Net income (loss)	(2,059)			(2,059)
Net loss attributable to redeemable noncontrolling interest	149			149
Ending Balance at Sep. 30, 2019	$ 456,547	$ 224	$ 451,103	$ 15,372	$ (10,152)	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net loss	$ (3,270)	$ 19,406
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	28,282	30,011
Share-based compensation	2,733	2,180
Bad debt expense, net	41	0
Interest income	(227)	(614)
Non-cash penalty and interest expenses	0	607
Gains on asset dispositions, net	(562)	(2,269)
Debt discount amortization	203	188
Amortization of deferred financing costs	722	1,173
Loss on sale of investments	569	0
Foreign currency losses, net	592	1,097
Losses (gains) on debt extinguishment, net	13	(175)
Deferred income tax (benefit) expense	(2,887)	1,541
Equity earnings, net of tax	(9,935)	(1,577)
Changes in operating assets and liabilities:
Decrease (increase) in receivables	176	(2,390)
(Increase) decrease in prepaid expenses and other assets	(726)	393
Increase in accounts payable, accrued expenses and other liabilities	4,121	781
Net cash provided by operating activities	19,845	50,352
Cash flows from investing activities:
Purchases of property and equipment	(5,168)	(7,686)
Proceeds from disposition of property and equipment	9,252	29,520
Purchase of investments	(5,000)	0
Proceeds from sale of investments	4,430	0
Dividends received from equity investees	0	1,000
Proceeds from sale of equity investees, net	34,712	0
Principal payments on notes due from equity investees	2,334	401
Principal payments on third party notes receivable	5,340	620
Net cash provided by investing activities	45,900	23,855
Cash flows from financing activities:
Long-term debt issuance costs	0	(1,295)
Payments on long-term debt	(1,458)	(42,562)
Extinguishment of long-term debt	(740)	0
Proceeds from share award plans	1,077	893
Purchase of treasury shares	(7,676)	0
Net cash used in financing activities	(8,797)	(42,964)
Effects of exchange rate changes on cash and cash equivalents	35	(445)
Net increase in cash, cash equivalents and restricted cash	56,983	30,798
Cash, cash equivalents and restricted cash, beginning of period	50,753	16,833
Cash, cash equivalents and restricted cash, end of period	107,736	47,631
Supplemental cash flow information:
Cash paid for interest	6,690	7,867
Interest capitalized during the period	0	97
Interest, net of amounts capitalized	6,690	7,770
Cash paid for income taxes	$ 1,255	$ 63

BASIS OF PRESENTATION AND ACCOU

BASIS OF PRESENTATION AND ACCOUNTING POLICY	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND ACCOUNTING POLICY	BASIS OF PRESENTATION AND ACCOUNTING POLICY The condensed consolidated financial statements include the accounts of Era Group Inc. and its consolidated subsidiaries. Unless the context otherwise indicates, any reference in this Quarterly Report on Form 10-Q to the “Company” refers to Era Group Inc. and its consolidated subsidiaries, and any reference to “Era Group” refers to Era Group Inc. without its subsidiaries. The condensed consolidated financial information for the three and nine months ended September 30, 2019 and 2018 has been prepared by the Company and has not been audited by its independent registered public accounting firm. In the opinion of management, all adjustments (consisting of normal recurring adjustments) have been made to fairly present the Company’s financial position as of September 30, 2019 , its results of operations for the three and nine months ended September 30, 2019 and 2018 , its comprehensive income for the three and nine months ended September 30, 2019 and 2018 , its changes in equity for the three and nine months ended September 30, 2019 , and 2018 , and its cash flows for the nine months ended September 30, 2019 and 2018 . Results of operations for the interim periods presented are not necessarily indicative of operating results for the full year or any future periods. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States (“U.S.”) have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 . Certain of the Company’s operations are subject to seasonal factors. Operations in the U.S. Gulf of Mexico are often at their highest levels from April to September, as daylight hours increase, and are at their lowest levels from December through February, as daylight hours decrease. Basis of Consolidation. The consolidated financial statements include the accounts of Era Group Inc., its wholly and majority-owned subsidiaries and entities that meet the criteria of VIEs of which the Company is the primary beneficiary. Aeróleo Taxi Aereo S/A (“Aeróleo”) is a VIE of which the Company is the primary beneficiary. All significant inter-company accounts and transactions are eliminated in consolidation. Reclassification. Certain amounts reported for prior periods in the consolidated financial statements have been reclassified to conform with the current period’s presentation. Supplemental Cash Flow Information. The following table sets forth the Company’s reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Statement of Cash Flows (in thousands): September 30, 2019 December 31, 2018 September 30, 2018 December 31, 2017 Cash and cash equivalents $ 107,736 $ 50,753 $ 47,631 $ 13,583 Restricted cash (1) — — — 3,250 Total cash, cash equivalents and restricted cash shown in the Consolidated Statement of Cash Flows $ 107,736 $ 50,753 $ 47,631 $ 16,833 (1) Restricted cash represents amounts deposited in escrow accounts at the end of each period. Escrow deposits are shown as a separate line item in the consolidated balance sheet. Revenue Recognition. The Company recognizes revenues for flight services and emergency response services with the passing of each day as the Company has the right to consideration from its customers in an amount that corresponds directly with the value to the Company’s customer of the performance completed to date. Therefore, the Company has elected to exercise the right to invoice practical expedient in its adoption of ASC 606. The right to invoice represents a method for recognizing revenue over time using the output measure of “value to the customer” which is an objective measure of an entity’s performance in a contract. The Company typically invoices its customers on a monthly basis for revenues earned during the prior month with payment terms of 30 days. The Company’s customer arrangements do not contain any significant financing component for its customers. Trade Receivables. Customers are primarily international, independent and major integrated exploration, development and production companies, third party helicopter operators and the U.S. government. Customers are typically granted credit on a short-term basis, and related credit risks are considered minimal. The Company routinely reviews its trade receivables and makes provisions for probable doubtful accounts; however, those provisions are estimates. Actual results could differ from those estimates, and those differences may be material. Leases. The Company determines if an arrangement is a lease at inception or during modification or renewal of an existing lease. Operating leases are maintained for a number of fixed assets including land, hangars, buildings, fuel tanks and tower sites. The right-of-use assets associated with these leases are reflected under long-term assets; the current portion of the long-term payables are reflected under other current liabilities; and the payables on lease agreements past one year are recorded as long-term liabilities on the Company’s consolidated balance sheets. For those contracts with terms of twelve months or less, the lease expense is recognized on a straight-line basis over the lease term and recorded in operating expenses on the consolidated statement of operations. As most of the Company’s leases do not provide an implicit rate, the incremental borrowing rate based on the information available at commencement date is used to determine the present value of future payments. Most of the Company’s lease agreements allow the option of renewal or extension, which are considered a part of the lease term. When it is reasonably certain that a lease will be extended, this is incorporated into the calculations. New Accounting Standards - Adopted. In February 2016, the Financial Accounting Standards Board (“ FASB”) issued ASU No. 2016-02, “Leases” (ASU No. 2016-02), which establishes comprehensive accounting and financial reporting requirements for leasing arrangements. This ASU supersedes the existing requirements in FASB ASC Topic 840, “Leases,” and requires lessees to recognize substantially all lease assets and lease liabilities on the balance sheet. The provisions of ASU No. 2016-02 also modify the definition of a lease and outline requirements for recognition, measurement, presentation and disclosure of leasing arrangements by both lessees and lessors. This ASU is effective for interim and annual periods beginning after December 15, 2018, and early adoption of the standard is permitted. In July 2018, the ASU No. 2016-02 was further amended by the provisions of ASU No. 2018-11, “Targeted Improvements” to Topic 842 whereby the FASB decided to provide an alternate transition method by allowing entities to initially apply the new leases standard at the adoption date (such as January 1, 2019, for calendar year-end public business entities) and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption consistent with preparers’ requests. The Company adopted ASU No. 2016-02, as amended, effective January 1, 2019, using the current-period adjustment method and has recognized a cumulative-effect adjustment to the opening balance of retained earnings in that period. The Company has elected an optional practical expedient to retain its current classification of leases, and as a result, the initial impact of adopting this new standard has not been material to its consolidated financial statements. The cumulative effect of the adoption on retained earrings is less than $0.1 million . Additionally, the Company elected not to bifurcate and separately account for non lease components contained in a single contract. See note 4 - Leases for additional information related to the Company’s operating leases. In August 2018, the FASB issued ASU No. 2018-15, “Intangibles-Goodwill and Other-Internal-Use Software” (Subtopic 350-40), providing guidance addressing a customer's accounting for implementation costs incurred in a cloud computing arrangement (“CCA”) that is considered a service contract. Under the new guidance, implementation costs for a CCA are evaluated for capitalization using the same approach as implementation costs associated with internal-use software and should be expensed over the term of the hosting arrangement, which includes any reasonably certain renewal periods. The new guidance is effective for fiscal years beginning after December 15, 2019 for calendar year-end public business entities. Early adoption is permitted, including adoption in any interim period. The Company will not take possession of implemented software and will rely on vendors to host the software, thus determining the cloud computing arrangements are service contracts. The Company adopted ASU No. 2016-13, effective January 1, 2019, and has appropriately accounted for the implementation costs of the cloud computing arrangements entered into in the first half of 2019. The adoption of ASU-2018-15 did not have a material impact on the Company’s consolidated financial statements. New Accounting Standards - Not Yet Adopted. In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments” (ASU No. 2016-13), which sets forth the current expected credit loss model, a new forward-looking impairment model for certain financial instruments based on expected losses rather than incurred losses. The ASU is effective for interim and annual periods beginning after December 15, 2019, and early adoption of the standard is permitted. Entities are required to adopt ASU No. 2016-13 using a modified retrospective approach, subject to certain limited exceptions. The Company is currently evaluating the potential impact of the adoption of this ASU on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, “Fair Value Measurements” (ASU No. 2018-13, update to topic ASC-820), providing guidance for the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period, and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. For certain unobservable inputs, an entity may disclose other quantitative information (such as the median or arithmetic average) in lieu of the weighted average if the entity determines that other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 fair value measurements. ASU No. 2018-13 will be effective for interim and annual periods beginning after December 15, 2019. The Company has not adopted ASU No. 2018-13 and believes such adoption will not have a material impact on its consolidated financial statements.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The fair value of an asset or liability is the price that would be received to sell an asset or transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company utilizes a fair value hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value and defines three levels of inputs that may be used to measure fair value. Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, or inputs derived from observable market data. Level 3 inputs are unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. As of September 30, 2019 and December 31, 2018 , the Company did not have any assets or liabilities that are measured at fair value on a recurring basis. The estimated fair values of the Company’s other financial assets and liabilities as of September 30, 2019 and December 31, 2018 were as follows (in thousands): Carrying Amount Level 1 Level 2 Level 3 September 30, 2019 LIABILITIES Long-term debt, including current portion $ 160,576 $ — $ 168,920 $ — December 31, 2018 LIABILITIES Long-term debt, including current portion $ 162,275 $ — $ 159,367 $ — The carrying values of cash and cash equivalents, receivables and accounts payable approximate fair value. The fair value of the Company’s long-term debt was estimated using discounted cash flow analysis based on estimated current rates for similar types of arrangements. Considerable judgment was required in developing certain of the estimates of fair value, and, accordingly, the estimates presented herein are not necessarily indicative of the amounts that the Company could realize in a current market exchange. Investments. During the first quarter of 2019, the Company purchased $5.0 million of corporate securities. This investment was recorded on the balance sheet under other current assets as its stated maturity date was within a year. During the three months ended June 30, 2019, the Company sold these corporate securities for cash proceeds of $4.4 million resulting in a net loss of $0.6 million .

ACQUISITIONS AND DISPOSITIONS

ACQUISITIONS AND DISPOSITIONS	9 Months Ended
	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
ACQUISITIONS AND DISPOSITIONS	ACQUISITIONS AND DISPOSITIONS Capital Expenditures. During the nine months ended September 30, 2019 , capital expenditures were $5.2 million and consisted primarily of spare helicopter parts and leasehold improvements. During the nine months ended September 30, 2019 , the Company did not capitalize any interest. During the nine months ended September 30, 2018 , the Company capitalized interest of $0.1 million . As of September 30, 2019 and December 31, 2018 , construction in progress, which is a component of property and equipment, included capitalized interest of $0.7 million . A summary of changes to the Company’s operating helicopter fleet is as follows: Equipment Additions - During the nine months ended September 30, 2019 , the Company did not place any helicopters into service. During the nine months ended September 30, 2018 , the Company placed one S92 heavy helicopter into service. The Company places helicopters in service once completion work has been finalized and the helicopters are ready for use. Equipment Dispositions - During the nine months ended September 30, 2019 , the Company sold or otherwise disposed of three helicopters, two hangar facilities, and related property and equipment for cash proceeds of $9.3 million . During the nine months ended September 30, 2018 , the Company sold or otherwise disposed of twenty helicopters, two operating facilities, and related property and equipment for cash proceeds of $29.5 million and receivables of $14.3 million .

LEASES

LEASES	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	LEASES The Company leases land, hangars, buildings, fuel tanks and tower sites under operating lease agreements. The Company determines if an arrangement is a lease at inception, and many of these leases offer an option for renewal or extension. The adoption of ASC 842 allows the Company to retain its current classification of leases, and the optional practical expedience rule has allowed the use of the current-period adjustment method to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the current period rather than the restatement of prior year lease amounts. The majority of the bases from which the Company operates are leased, with current remaining terms between one and sixty years . The lease expense on those contracts with initial terms of twelve months or less are recognized on a straight-line basis over the lease term and are not recorded on the balance sheet. The Company does not currently maintain any finance leases and has only operating lease agreements. The Company’s maturity analysis of lease payments under operating leases that had a remaining term in excess of one year as of December 31, 2018 was as follows (in thousands): Minimum Payments 2019 $ 1,573 2020 1,530 2021 987 2022 562 2023 495 Years subsequent to 2023 7,952 Total future minimum lease payments $ 13,099 The Company’s maturity analysis of lease payments under operating leases that have a remaining term in excess of one year as of September 30, 2019 was as follows (in thousands): Minimum Payments 2019 $ 547 2020 2,369 2021 1,758 2022 1,334 2023 1,298 Years subsequent to 2023 9,358 Total future minimum lease payments 16,664 Less: imputed interest 6,676 Present value of lease liabilities $ 9,988 During the three and nine months ended September 30, 2019 , the Company recognized $1.3 million and $2.9 million of operating lease expense, respectively. Included in these amounts was $0.7 million and $1.2 million for contracts with remaining terms of less than one year for the three and nine months ended September 30, 2019 , respectively. Reported balances: Other current liabilities $ 1,822 Long-term lease liabilities 8,166 Total operating lease liabilities $ 9,988 As of September 30, 2019 , other information related to these leases was as follows: Weighted average remaining lease term 15 years Weighted average discount rate 6.09 % Cash paid for amounts included in the measurement of lease liabilities during the nine months ended September 30, 2019 (in thousands) $ 1,570 The Company generates revenues as a lessor from its dry-leasing line of service that require a fixed monthly fee for the customer’s right to use the helicopter and, where applicable, additional charges as compensation for any support the Company may provide to the customer. Revenues from dry-leasing contracts are shown on the face of the statement of operations. In 2018, the Company disposed of six H225 heavy helicopters through sales-type leases. During the three and nine months ended September 30, 2019 , the Company recognized interest income on these leases of $0.4 million and $1.4 million , respectively. During the three months ended September 30, 2019 , the Company completed the final sale of two of these helicopters and received cash proceeds of $5.0 million . As of September 30, 2019 , the Company had remaining receivables of $13.6 million , of which $9.8 million is due within a year and the remaining balance of $3.8 million is due within two years.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES Aeróleo. The Company acquired a 50% economic and 20% voting interest in Aeróleo in 2011. As a result of liquidity issues experienced by Aeróleo, it is unable to adequately finance its activities without additional financial support from the Company, making it a VIE. The Company has the ability to direct the activities that most significantly affect Aeróleo’s financial performance, making the Company the primary beneficiary. As a result, the Company consolidates Aeróleo’s financial results. The Company’s condensed consolidated balance sheets at September 30, 2019 and December 31, 2018 include assets of Aeróleo totaling $14.2 million and $11.9 million , respectively. The distribution of these assets to Era Group and its subsidiaries other than Aeróleo is subject to restrictions. The Company’s condensed consolidated balance sheets at September 30, 2019 and December 31, 2018 include liabilities of Aeróleo of $5.9 million and $4.5 million , respectively. The creditors for such liabilities do not have recourse to Era Group or its subsidiaries other than Aeróleo. In the fourth quarter of 2019, the Company exercised its contractual call option to purchase the remaining 50% economic interest and 20% voting interest from the Company’s partner in Aeróleo. The amount paid to effect this purchase was not material.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES During the three months ended September 30, 2019 and 2018, the Company recorded an income tax expense of $0.5 million and $7.9 million , respectively, resulting in an effective tax rate of (33.4)% and 20.3% , respectively. During the nine months ended September 30, 2019 and 2018, the Company recorded an income tax expense of $0.3 million and $4.5 million , respectively, resulting in an effective tax rate of (2.5)% and 20.3% , respectively. The effective tax rate for 2019 is impacted by the gain on the sale of the Company’s Dart Holding Company Ltd. (“Dart”) joint venture. The Company recorded pre-tax losses for the three months ended September 30, 2019 , but, due to the sale of Dart, the Company recorded an income tax expense for the period. During the nine months ended September 30, 2019 and 2018 , there were no new uncertain tax positions identified. The Company’s 2015 federal income tax return examination has concluded with no adjustments. Amounts accrued for interest and penalties associated with unrecognized income tax benefits are included in other expense on the condensed consolidated statements of operations. As of September 30, 2019 and December 31, 2018 , the gross amount of liability for accrued interest and penalties related to unrecognized tax benefits was $0.1 million .

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT The Company’s borrowings as of September 30, 2019 and December 31, 2018 were as follows (in thousands): September 30, 2019 December 31, 2018 7.750% Senior Notes (excluding unamortized discount) $ 144,088 $ 144,828 Senior secured revolving credit facility — — Promissory notes 18,732 19,980 Other 182 395 Total principal balance on borrowings 163,002 165,203 Portion due within one year (1,845 ) (2,058 ) Unamortized debt issuance costs (1,419 ) (1,712 ) Unamortized discount, net (1,007 ) (1,216 ) Long-term debt $ 158,731 $ 160,217 7.750% Senior Notes. On December 7, 2012, Era Group issued $200.0 million aggregate principal amount of its 7.750% senior unsecured notes due December 15, 2022 (the “ 7.750% Senior Notes”) and received net proceeds of $191.9 million . Interest on the 7.750% Senior Notes is payable semi-annually in arrears on June 15 th and December 15 th of each year. In June 2019, the Company repurchased $0.7 million of the 7.750% Senior Notes at par for total cash of $0.7 million , including accrued interest of less than $0.1 million , and recognized a loss on debt extinguishment of less than $0.1 million . Revolving Credit Facility. On March 31, 2014, Era Group entered into the amended and restated senior secured revolving credit facility (the “Amended and Restated Revolving Credit Facility”). On March 7, 2018, Era Group entered into a Consent and Amendment No. 4 to the Amended and Restated Senior Secured Revolving Credit Facility Agreement (the “Amendment No. 4” and the Amended and Restated Revolving Credit Facility, as amended by Amendment No. 4, is referred to herein as the “Revolving Credit Facility”) that, among other things, (a) reduced the aggregate principal amount of revolving loan commitments from $200.0 million to $125.0 million , (b) extended the agreement’s maturity until March 31, 2021, (c) revised the definition of EBITDA to permit an add-back for certain litigation expenses related to the H225 helicopters, and (d) adjusted the maintenance covenant requirements to maintain an interest coverage ratio of not less than 1.75 :1.00 and a senior secured leverage ratio of not more than 3.25 :1.00. The Revolving Credit Facility provides Era Group with the ability to borrow up to $125.0 million , with a sub-limit of up to $50.0 million for letters of credit, and matures in March 2021. Subject to the satisfaction of certain conditions precedent and the agreement by the lenders, the Revolving Credit Facility includes an “accordion” feature which, if exercised, will increase total commitments by up to $50.0 million . Borrowings under the Revolving Credit Facility bear interest at a rate per annum equal to, at Era Group’s election, either a base rate or LIBOR, each as defined in the Revolving Credit Facility, plus an applicable margin. The applicable margin is based on the Company’s ratio of funded debt to EBITDA, as defined in the Revolving Credit Facility, and ranges from 1.25% to 2.50% on the base rate margin and 2.25% to 3.50% on the LIBOR margin. The applicable margin as of September 30, 2019 was 2.25% on the base rate margin and 3.25% on the LIBOR margin. In addition, the Company is required to pay a quarterly commitment fee based on the unfunded portion of the committed amount at a rate based on the Company’s ratio of funded debt to EBITDA, as defined in the Revolving Credit Facility, that ranges from 0.375% to 0.500% . As of September 30, 2019 , the commitment fee was 0.500% . The obligations under the Revolving Credit Facility are secured by a portion of the Company’s helicopter fleet and the Company’s other tangible and intangible assets and are guaranteed by Era Group’s wholly owned U.S. subsidiaries. The Revolving Credit Facility contains various restrictive covenants including an interest coverage ratio, a senior secured leverage ratio and an asset coverage ratio, each as defined in the Revolving Credit Facility, as well as other customary covenants including certain restrictions on the Company’s ability to enter into certain transactions, including those that could result in the incurrence of additional indebtedness and liens, the making of loans, guarantees or investments, sales of assets, payments of dividends or repurchases of capital stock, and entering into transactions with affiliates. As of September 30, 2019 , Era Group had no outstanding borrowings under the Revolving Credit Facility and issued letters of credit of $0.7 million . In connection with Amendment No. 4 entered into in 2018, the Company wrote off previously incurred debt issuance costs of $0.4 million and incurred additional debt issuance costs of $1.3 million . Such costs are included in other assets on the condensed consolidated balance sheets and are amortized to interest expense in the condensed consolidated statements of operations over the life of the Revolving Credit Facility. Aeróleo Debt. During the nine months ended September 30, 2019 , the Company did not enter into any new debt arrangements in Brazil. During 2017, the Company settled certain tax disputes in Brazil under the Tax Regularization Settlement Special Program (known as Programa Especial de Regularização Tributária or “PERT”) and has agreed to make installment payments on the amounts due to the applicable taxing authorities. The installments are payable in Brazilian reals and bear interest at a rate equal to the overnight rate as published by the Central Bank of Brazil. Such amounts are included in other debt in the table above. During the nine months ended September 30, 2019 , the Company made scheduled payments of $0.2 million . Promissory Notes. During each of the nine months ended September 30, 2019 and 2018 , the Company made scheduled payments on other long-term debt of $1.2 million .

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Fleet. The Company’s unfunded capital commitments as of September 30, 2019 consisted primarily of agreements to purchase helicopters and totaled $78.2 million , which is payable beginning in 2020 through 2021 . The Company also had $1.3 million of deposits paid on options not yet exercised. All of the Company’s capital commitments (inclusive of deposits paid on options not yet exercised) may be terminated without further liability other than aggregate liquidated damages of $2.1 million . Included in these commitments are orders to purchase three AW189 heavy helicopters and five AW169 light twin helicopters. The AW189 helicopters are scheduled to be delivered in 2020 and 2021 . Delivery dates for the AW169 helicopters have yet to be determined. In addition, the Company had outstanding options to purchase up to ten additional AW189 helicopters. If these options are exercised, the helicopters would be scheduled for delivery in 2021 and 2022 . Brazilian Tax Disputes. In connection with its ownership of Aeróleo and its operations in Brazil, the Company has several ongoing legal disputes related to the local, municipal and federal taxation requirements in Brazil, including assessments associated with the import and re-export of its helicopters in Brazil. The legal disputes are related to: (i) municipal tax assessments arising under the authorities in Rio de Janeiro (for the period between 2000 and 2005) and Macaé (for the period between 2001 to 2006) (collectively, the “Municipal Tax Disputes”); (ii) social security contributions that one of its customers was required to remit from 1995 to 1998; (iii) penalties assessed due to its alleged failure to comply with certain deadlines related to the helicopters the Company imports and exports in and out of Brazil; and (iv) fines sought by taxing authorities in Brazil related to its use of certain tax credits used to offset certain social tax liabilities (collectively, the “Tax Disputes”). The aggregate amount at issue for the Tax Disputes is $13.3 million . The Municipal Tax Disputes are the largest contributor to the total amount being sought from Aeróleo, with approximately $9.9 million at issue. In addition to the foregoing Tax Disputes (and unrelated thereto), Aeróleo is engaged in two additional civil litigation matters relating to: (i) a dispute with its former tax consultant who has alleged that $0.5 million is due and payable as a contingency fee related to execution of certain tax strategies; and (ii) a fatal accident that occurred in 1983 that was previously settled with the plaintiffs’ in the U.S. (the “Civil Disputes”). With respect to the fatal accident, the plaintiffs are seeking to collect additional amounts in Brazil despite the previous settlement agreed upon by the parties in the U.S. The Company continues to evaluate and assess various legal strategies for each of the Tax Disputes and the Civil Disputes. As is customary for certain legal matters in Brazil, Aeróleo has already deposited amounts as security into an escrow account to pursue further legal appeals in several of the Tax Disputes and the Civil Disputes. As of September 30, 2019 , the Company has deposited $5.1 million into escrow accounts controlled by the court with respect to the Tax Disputes and the Civil Disputes, and the Company has fully reserved such amounts subject to final determination and the judicial release of such escrow deposits. These estimates are based on its assessment of the nature of these matters, their progress toward resolution, the advice of legal counsel and outside experts as well as management’s intentions and experience. Aeróleo plans to defend the cases vigorously. As of September 30, 2019 , it is not possible to determine the outcome of the Tax Disputes or the Civil Disputes, but the Company does not expect that an outcome would have a material adverse effect on its business, financial position or results of operations. General Litigation and Disputes In the normal course of business, the Company is involved in various litigation matters including, among other things, claims by third parties for alleged property damages and personal injuries. In addition, from time to time, the Company is involved in tax and other disputes with various government agencies. Management has used estimates in determining the Company’s potential exposure to these matters and has recorded reserves in its financial statements related thereto as appropriate. It is possible that a change in its estimates related to these exposures could occur, but the Company does not expect such changes in estimated costs would have a material effect on its business, consolidated financial position or results of operations.

EARNINGS (LOSS) PER COMMON SHAR

EARNINGS (LOSS) PER COMMON SHARE	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER COMMON SHARE	EARNINGS (LOSS) PER COMMON SHARE Basic earnings per common share of the Company are computed based on the weighted average number of common shares issued and outstanding during the relevant periods. Diluted earnings per common share of the Company are computed based on the weighted average number of common shares issued and outstanding plus the effect of potentially dilutive securities through the application of the if-converted method and/or treasury method. Dilutive securities for this purpose assume all common shares have been issued and outstanding during the relevant periods pursuant to the exercise of outstanding stock options. Computations of basic and diluted earnings per common share of the Company for the three and nine months ended September 30, 2019 and 2018 were as follows (in thousands, except share and per share data): Three Months Ended Nine Months Ended 2019 2018 2019 2018 Net income (loss) attributable to Era Group Inc. $ (1,910 ) $ 31,289 $ (2,913 ) $ 19,716 Less: Net income attributable to participating securities — 714 — 425 Net income (loss) attributable to fully vested common stock $ (1,910 ) $ 30,575 $ (2,913 ) $ 19,291 Weighted average common shares outstanding: Basic 20,625,408 21,215,576 21,129,722 21,139,212 Diluted (1) 20,629,328 21,239,189 21,131,029 21,156,466 Income (loss) per common share, basic and diluted $ (0.09 ) $ 1.44 $ (0.14 ) $ 0.91 ____________________ (1) Excludes weighted average common shares of 207,532 and 224,769 for the three months ended September 30, 2019 and 2018 , respectively, and 204,919 and 223,921 for the nine months ended September 30, 2019 and 2018 , respectively, for certain share awards as the effect of their inclusion would have been antidilutive. Share Repurchases. On August 14, 2014, the Company’s Board of Directors approved a share repurchase program authorizing up to $25.0 million of share repurchases. The share repurchase program has no expiration date and may be suspended or discontinued at any time without notice. During the three months ended September 30, 2019 , Era Group repurchased 188,553 shares of common stock in open market transactions for gross consideration of $1.6 million , which is an average cost per share of $8.45 . During the nine months ended September 30, 2019 , Era Group repurchased 988,721 shares of common stock in open market transactions for gross consideration of $7.6 million , which is an average cost per share of $7.72 . As of September 30, 2019 , $15.3 million remained of the $25.0 million share repurchase program.

REVENUES

REVENUES	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUE S The Company derives its revenues primarily from oil and gas flight services, emergency response services and leasing activities. Dry-leasing revenues are recognized in accordance with ASC 842. Revenue is recognized when control of the promised goods or services is transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The following table presents the Company’s operating revenues disaggregated by geographical region in which services are provided: Three Months Ended Nine Months Ended 2019 2018 2019 2018 Operating revenues: U.S. $ 38,027 $ 38,229 $ 107,016 $ 117,673 International 16,632 13,665 46,553 43,443 Total operating revenues $ 54,659 $ 51,894 $ 153,569 $ 161,116 The following table presents the Company’s total revenues earned by service line: Three Months Ended Nine Months Ended 2019 2018 2019 2018 Revenues: Oil and gas flight services: U.S. $ 36,226 $ 35,473 $ 101,850 $ 109,778 International 14,740 13,665 42,855 43,443 Total oil and gas 50,966 49,138 144,705 153,221 Emergency response services 3,693 2,756 8,864 7,895 Total operating revenues $ 54,659 $ 51,894 $ 153,569 $ 161,116 Dry-leasing revenues: U.S. 610 1,142 2,055 2,984 International 3,640 1,574 10,058 5,560 Total revenues $ 58,909 $ 54,610 $ 165,682 $ 169,660 The Company determines revenue recognition by applying the following steps: 1. Identify the contract with a customer; 2. Identify the performance obligations in the contract; 3. Determine the transaction price; 4. Allocate the transaction price to the performance obligations; and 5. Recognize revenue as the performance obligations are satisfied. The Company earns the majority of its revenue through master service agreements or subscription agreements, which typically include a fixed monthly or daily fee, incremental fees based on hours flown and fees for ancillary items such as fuel, security, charter services, etc. The Company’s arrangements to serve its customers represent a promise to stand ready to provide services at the customer’s discretion. The Company recognizes revenue for flight services and emergency response services with the passing of each day as the Company has the right to consideration from its customers in an amount that corresponds directly with the value to the customer of performance completed to date. The Company typically invoices customers on a monthly basis for revenues earned during the prior month, with payment terms of 30 days. The Company’s customer arrangements do not contain any significant financing component for customers. Amounts for taxes collected from customers and remitted to governmental authorities are reported on a net basis.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company purchased products and services from its Dart joint venture totaling $0.6 million during the three months ended March 31, 2019. The Company purchased products and services from Dart totaling $0.4 million and $1.7 million during the three and nine months ended September 30, 2018 , respectively. The Company also had a note receivable from Dart, which had a balance of $2.3 million as of December 31, 2018 . The note was paid in full during the first quarter of 2019. Purchases from Dart are included in operating expenses on the consolidated statements of income, and the note receivable was included in equity investments and advances on the consolidated balance sheets. During the nine months ended September 30, 2019 , the Company in conjunction with its 50% joint venture partner entered into an agreement to sell Dart. The transaction closed on April 1, 2019, for gross proceeds of $38.0 million , including payment of the note receivable in March 2019, and net gains of $10.9 million . During each of the three and nine months ended September 30, 2018 , the Company incurred fees of less than $0.1 million and $0.2 million , respectively, for simulator services from its Era Training Center, LLC (“ETC”) joint venture, and during each of the three and nine months ended September 30, 2018 , the Company provided helicopter, management and other services to ETC of approximately $0.1 million . Revenues from ETC were recorded in operating revenues, and expenses incurred were recorded in operating expenses on the consolidated statements of operations. ETC was dissolved in the third quarter of 2018.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION Restricted Stock Awards. The number of shares and weighted average grant price of restricted stock awards during the nine months ended September 30, 2019 were as follows: Number of Shares Weighted Average Grant Price Non-vested as of December 31, 2018 513,766 $ 10.28 Restricted stock awards granted: Non-employee directors 34,488 $ 10.35 Employees 361,056 $ 10.35 Vested (270,997 ) $ 10.36 Forfeited — $ — Non-vested as of September 30, 2019 638,313 $ 10.29 The total fair value of shares vested during each of the nine months ended September 30, 2019 and 2018 , determined using the closing price on the grant date, was $2.8 million . Stock Options. The Company did not grant any stock options during the nine months ended September 30, 2019 . Employee Stock Purchase Plan (“ESPP”). During the nine months ended September 30, 2019 , the Company issued 120,754 shares under the ESPP. As of September 30, 2019 , 101,624 shares remain available for issuance under the ESPP. Total share-based compensation expense, which includes stock options, restricted stock and the ESPP, was $2.7 million and $2.2 million for the nine months ended September 30, 2019 and 2018 , respectively.

GUARANTORS OF SECURITIES

GUARANTORS OF SECURITIES	9 Months Ended
	Sep. 30, 2019
Guarantees [Abstract]
GUARANTORS OF SECURITIES	GUARANTORS OF SECURITIES Era Group’s payment obligations under the 7.750% Senior Notes are jointly and severally guaranteed by all of its existing 100% owned U.S. subsidiaries that guarantee the Revolving Credit Facility and any future U.S. subsidiaries that guarantee the Revolving Credit Facility or other material indebtedness Era Group may incur in the future (the “Guarantors”). All the Guarantors currently guarantee the Revolving Credit Facility, and the guarantees of the Guarantors are full and unconditional and joint and several. As a result of the agreement by the Guarantors to guarantee the 7.750% Senior Notes, the Company presents the following condensed consolidating balance sheets and statements of operations, comprehensive income and cash flows for Era Group (“Parent”), the Guarantors and the Company’s other subsidiaries (“Non-guarantors”). These statements should be read in conjunction with the accompanying consolidated financial statements and notes of the Company. Supplemental Condensed Consolidating Balance Sheet as of September 30, 2019 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands, except share data) ASSETS Current assets: Cash and cash equivalents $ 105,639 $ — $ 2,097 $ — $ 107,736 Receivables: Trade, operating, net of allowance for doubtful accounts of $176 — 24,779 6,533 — 31,312 Trade, dry-leasing — 5,864 — — 5,864 Tax receivable — 10 2,695 — 2,705 Other — 11,305 262 — 11,567 Inventories, net — 20,784 42 — 20,826 Prepaid expenses 565 2,046 240 — 2,851 Total current assets 106,204 64,788 11,869 — 182,861 Property and equipment — 884,816 16,764 — 901,580 Accumulated depreciation — (330,543 ) (4,187 ) — (334,730 ) Property and equipment, net — 554,273 12,577 — 566,850 Operating lease right-of-use — 8,095 1,812 — 9,907 Investments in consolidated subsidiaries 183,226 — — (183,226 ) — Intangible assets — — 1,094 — 1,094 Deferred income taxes 12,774 — — (12,774 ) — Intercompany receivables 294,405 — 47 (294,452 ) — Other assets 815 5,145 403 — 6,363 Total assets $ 597,424 $ 632,301 $ 27,802 $ (490,452 ) $ 767,075 LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued expenses $ 134 $ 10,247 $ 1,559 $ — $ 11,940 Accrued wages and benefits 32 7,216 1,712 — 8,960 Accrued interest 3,261 60 — — 3,321 Accrued income taxes 2,922 10 13 — 2,945 Accrued other taxes — 1,693 293 — 1,986 Accrued contingencies — — 548 — 548 Current portion of long-term debt — 1,663 182 — 1,845 Other current liabilities 885 1,585 381 — 2,851 Total current liabilities 7,234 22,474 4,688 — 34,396 Long-term debt 133,662 25,069 — — 158,731 Deferred income taxes — 116,968 1,246 (12,774 ) 105,440 Intercompany payables — 231,203 63,271 (294,474 ) — Operating lease liabilities — 6,731 1,435 — 8,166 Other liabilities — 850 — — 850 Total liabilities 140,896 403,295 70,640 (307,248 ) 307,583 Redeemable noncontrolling interest — 3 2,942 — 2,945 Equity: Common stock, $0.01 par value, 60,000,000 shares authorized; 21,288,619 outstanding, exclusive of treasury shares 224 — — — 224 Additional paid-in capital 451,104 100,307 4,561 (104,869 ) 451,103 Retained earnings 15,352 128,696 (50,341 ) (78,335 ) 15,372 Treasury shares, at cost, 1,149,820 shares (10,152 ) — — — (10,152 ) Total equity 456,528 229,003 (45,780 ) (183,204 ) 456,547 Total liabilities, redeemable noncontrolling interest and stockholders’ equity $ 597,424 $ 632,301 $ 27,802 $ (490,452 ) $ 767,075 Supplemental Condensed Consolidating Balance Sheet as of December 31, 2018 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands, except share data) ASSETS Current assets: Cash and cash equivalents $ 48,396 $ — $ 2,357 $ — $ 50,753 Receivables: Trade, operating, net of allowance for doubtful accounts of $261 — 27,509 5,797 — 33,306 Trade, dry-leasing — 3,803 — — 3,803 Tax receivables — 6 3,181 — 3,187 Other — 1,949 394 — 2,343 Inventories, net — 20,633 40 — 20,673 Prepaid expenses 398 1,219 190 — 1,807 Total current assets 48,794 55,119 11,959 — 115,872 Property and equipment — 900,611 16,550 — 917,161 Accumulated depreciation — (314,567 ) (3,400 ) — (317,967 ) Net property and equipment — 586,044 13,150 — 599,194 Equity investments and advances — 27,112 — — 27,112 Investments in consolidated subsidiaries 172,950 — — (172,950 ) — Intangible assets — — 1,107 — 1,107 Deferred income taxes 9,904 — — (9,904 ) — Intercompany receivables 366,541 — — (366,541 ) — Other assets 1,251 20,231 96 — 21,578 Total assets $ 599,440 $ 688,506 $ 26,312 $ (549,395 ) $ 764,863 LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued expenses $ 136 $ 11,357 $ 1,668 $ — $ 13,161 Accrued wages and benefits 43 7,743 1,481 — 9,267 Accrued interest 500 69 — — 569 Accrued income taxes 918 6 49 — 973 Accrued other taxes — 768 500 — 1,268 Accrued contingencies — — 630 — 630 Current portion of long-term debt — 1,663 395 — 2,058 Other current liabilities 647 220 11 — 878 Total current liabilities 2,244 21,826 4,734 — 28,804 Long-term debt 133,900 26,317 — — 160,217 Deferred income taxes — 117,015 1,245 (9,903 ) 108,357 Intercompany payables — 310,727 55,847 (366,574 ) — Other liabilities — 720 27 — 747 Total liabilities 136,144 476,605 61,853 (376,477 ) 298,125 Redeemable noncontrolling interest — 3 3,299 — 3,302 Equity: Common stock, $0.01 par value, 60,000,000 shares authorized; 21,765,404 shares outstanding, exclusive of treasury shares 219 — — — 219 Additional paid-in capital 447,299 100,306 4,562 (104,869 ) 447,298 Retained earnings 18,254 111,482 (43,402 ) (68,049 ) 18,285 Treasury shares, at cost, 156,737 shares (2,476 ) — — — (2,476 ) Accumulated other comprehensive income, net of tax — 110 — — 110 Total equity 463,296 211,898 (38,840 ) (172,918 ) 463,436 Total liabilities, redeemable noncontrolling interest and stockholders’ equity $ 599,440 $ 688,506 $ 26,312 $ (549,395 ) $ 764,863 Supplemental Condensed Consolidating Statements of Operations for the Three Months Ended September 30, 2019 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Revenues $ — $ 53,633 $ 14,681 $ (9,405 ) $ 58,909 Costs and expenses: Operating — 32,926 16,001 (9,405 ) 39,522 Administrative and general 1,025 7,177 940 — 9,142 Depreciation — 9,100 212 — 9,312 Total costs and expenses 1,025 49,203 17,153 (9,405 ) 57,976 Gains on asset dispositions, net — 754 — — 754 Operating income (loss) (1,025 ) 5,184 (2,472 ) — 1,687 Other income (expense): Interest income 492 444 20 — 956 Interest expense (3,263 ) (193 ) (8 ) — (3,464 ) Foreign currency gains, net (81 ) (104 ) (533 ) — (718 ) Other, net (4 ) 5 (6 ) — (5 ) Total other income (expense) (2,856 ) 152 (527 ) — (3,231 ) Income (loss) before income taxes and equity earnings (3,881 ) 5,336 (2,999 ) — (1,544 ) Income tax (benefit) expense (432 ) 947 — — 515 Income (loss) before equity earnings (3,449 ) 4,389 (2,999 ) — (2,059 ) Equity in earnings (losses) of subsidiaries 1,541 — — (1,541 ) — Net income (loss) (1,908 ) 4,389 (2,999 ) (1,541 ) (2,059 ) Net loss attributable to noncontrolling interest in subsidiary — — 149 — 149 Net income (loss) attributable to Era Group Inc. $ (1,908 ) $ 4,389 $ (2,850 ) $ (1,541 ) $ (1,910 ) Supplemental Condensed Consolidating Statements of Operations for the Three Months Ended September 30, 2018 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Revenues $ — $ 48,631 $ 13,623 $ (7,644 ) $ 54,610 Costs and expenses: Operating — 29,888 14,302 (7,677 ) 36,513 Administrative and general 901 6,957 979 — 8,837 Depreciation — 9,316 225 — 9,541 Total costs and expenses 901 46,161 15,506 (7,677 ) 54,891 Losses on asset dispositions, net — (148 ) — — (148 ) Litigation settlement proceeds 42,000 — — — 42,000 Operating income (loss) loss 41,099 2,322 (1,883 ) 33 41,571 Other income (expense): Interest income 171 448 113 — 732 Interest expense (3,330 ) (204 ) (15 ) — (3,549 ) Foreign currency losses, net (10 ) (16 ) (68 ) — (94 ) Other, net — 21 (6 ) — 15 Total other income (expense) (3,169 ) 249 24 — (2,896 ) Income (loss) before income taxes and equity earnings 37,930 2,571 (1,859 ) 33 38,675 Income tax expense 3,928 3,933 — — 7,861 Income (loss) before equity earnings 34,002 (1,362 ) (1,859 ) 33 30,814 Equity in earnings (losses) of subsidiaries (2,747 ) 465 — 2,747 465 Net income (loss) 31,255 (897 ) (1,859 ) 2,780 31,279 Net loss attributable to noncontrolling interest in subsidiary — — 10 — 10 Net income (loss) attributable to Era Group Inc. $ 31,255 $ (897 ) $ (1,849 ) $ 2,780 $ 31,289 Supplemental Condensed Consolidating Statements of Operations for the Nine Months Ended September 30, 2019 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Revenues $ — $ 148,992 $ 42,835 $ (26,145 ) $ 165,682 Costs and expenses: Operating — 94,977 46,195 (26,134 ) 115,038 Administrative and general 4,009 20,135 2,768 — 26,912 Depreciation — 27,572 710 — 28,282 Total costs and expenses 4,009 142,684 49,673 (26,134 ) 170,232 Gains on asset dispositions, net — 562 — — 562 Operating income (loss) (4,009 ) 6,870 (6,838 ) (11 ) (3,988 ) Other income (expense): Interest income 1,135 1,423 84 — 2,642 Interest expense (9,721 ) (614 ) (22 ) — (10,357 ) Loss on sale of investments (569 ) — — — (569 ) Foreign currency gains, net (93 ) 15 (496 ) — (574 ) Loss on debt extinguishment (13 ) — — — (13 ) Other, net (20 ) 16 (21 ) — (25 ) Total other income (expense) (9,281 ) 840 (455 ) — (8,896 ) Income (loss) before income taxes and equity earnings (13,290 ) 7,710 (7,293 ) (11 ) (12,884 ) Income tax expense (benefit) (114 ) 435 — — 321 Income (loss) before equity earnings (13,176 ) 7,275 (7,293 ) (11 ) (13,205 ) Equity in earnings (losses) of subsidiaries 10,275 9,935 — (10,275 ) 9,935 Net income (loss) (2,901 ) 17,210 (7,293 ) (10,286 ) (3,270 ) Net loss attributable to noncontrolling interest in subsidiary — — 357 — 357 Net income (loss) attributable to Era Group Inc. $ (2,901 ) $ 17,210 $ (6,936 ) $ (10,286 ) $ (2,913 ) Supplemental Condensed Consolidating Statements of Operations for the Nine Months Ended September 30, 2018 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Revenues $ — $ 148,512 $ 42,252 $ (21,104 ) $ 169,660 Costs and expenses: Operating — 92,317 43,325 (21,137 ) 114,505 Administrative and general 14,087 18,182 3,445 — 35,714 Depreciation — 29,283 728 — 30,011 Total costs and expenses 14,087 139,782 47,498 (21,137 ) 180,230 Gains on asset dispositions, net — 2,269 — — 2,269 Litigation settlement proceeds 42,000 — — — 42,000 Operating income (loss) 27,913 10,999 (5,246 ) 33 33,699 Other income (expense): Interest income 180 878 166 — 1,224 Interest expense (10,925 ) (595 ) (126 ) — (11,646 ) Foreign currency losses, net (66 ) (141 ) (888 ) — (1,095 ) Gain on debt extinguishment — — 175 — 175 Other, net — 31 (10 ) — 21 Total other income (expense) (10,811 ) 173 (683 ) — (11,321 ) Income (loss) before income taxes and equity earnings 17,102 11,172 (5,929 ) 33 22,378 Income tax benefit 1,075 3,474 — — 4,549 Income (loss) before equity earnings 16,027 7,698 (5,929 ) 33 17,829 Equity in earnings (losses) of subsidiaries 3,655 1,577 — (3,655 ) 1,577 Net income (loss) 19,682 9,275 (5,929 ) (3,622 ) 19,406 Net loss attributable to noncontrolling interest in subsidiary — — 310 — 310 Net income (loss) attributable to Era Group Inc. $ 19,682 $ 9,275 $ (5,619 ) $ (3,622 ) $ 19,716 Supplemental Condensed Consolidating Statements of Comprehensive Income for the Three Months Ended September 30, 2019 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Net income (loss) $ (1,908 ) $ 4,389 $ (2,999 ) $ (1,541 ) $ (2,059 ) Comprehensive income (loss) (1,908 ) 4,389 (2,999 ) (1,541 ) (2,059 ) Comprehensive loss attributable to noncontrolling interest in subsidiary — — 149 — 149 Comprehensive income (loss) attributable to Era Group Inc. $ (1,908 ) $ 4,389 $ (2,850 ) $ (1,541 ) $ (1,910 ) Supplemental Condensed Consolidating Statements of Comprehensive Income for the Three Months Ended September 30, 2018 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Net income (loss) $ 31,255 $ (897 ) $ (1,859 ) $ 2,780 $ 31,279 Comprehensive income (loss) 31,255 (897 ) (1,859 ) 2,780 31,279 Comprehensive loss attributable to noncontrolling interest in subsidiary — — 10 — 10 Comprehensive income (loss) attributable to Era Group Inc. $ 31,255 $ (897 ) $ (1,849 ) $ 2,780 $ 31,289 Supplemental Condensed Consolidating Statements of Comprehensive Income for the Nine Months Ended September 30, 2019 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Net income (loss) $ (2,901 ) $ 17,210 $ (7,293 ) $ (10,286 ) $ (3,270 ) Other comprehensive loss: Foreign currency translation adjustments — (110 ) — — (110 ) Total other comprehensive loss — (110 ) — — (110 ) Comprehensive income (loss) (2,901 ) 17,100 (7,293 ) (10,286 ) (3,380 ) Comprehensive loss attributable to noncontrolling interest in subsidiary — — 357 — 357 Comprehensive income (loss) attributable to Era Group Inc. $ (2,901 ) $ 17,100 $ (6,936 ) $ (10,286 ) $ (3,023 ) Supplemental Condensed Consolidating Statements of Comprehensive Income for the Nine Months Ended September 30, 2018 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Net income (loss) $ 19,682 $ 9,275 $ (5,929 ) $ (3,622 ) $ 19,406 Other comprehensive loss: Foreign currency translation adjustments — (5 ) — — (5 ) Total other comprehensive loss — (5 ) — — (5 ) Comprehensive income (loss) 19,682 9,270 (5,929 ) (3,622 ) 19,401 Comprehensive loss attributable to noncontrolling interest in subsidiary — — 310 — 310 Comprehensive income (loss) attributable to Era Group Inc. $ 19,682 $ 9,270 $ (5,619 ) $ (3,622 ) $ 19,711 Supplemental Condensed Consolidating Statements of Cash Flows for the Nine Months Ended September 30, 2019 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Net cash provided by (used in) operating activities $ 66,231 $ (46,413 ) $ 27 $ — $ 19,845 Cash flows from investing activities: Purchases of property and equipment — (5,056 ) (112 ) — (5,168 ) Proceeds from disposition of property and equipment — 9,252 — — 9,252 Purchase of investments (5,000 ) — — — (5,000 ) Proceeds from sale of investments 4,430 — — — 4,430 Proceeds from sale of equity investees — 34,712 — — 34,712 Principal payments on notes due from equity investees — 2,334 — — 2,334 Principal payments on third party notes receivable — 5,340 — — 5,340 Net cash provided by (used in) investing activities (570 ) 46,582 (112 ) — 45,900 Cash flows from financing activities: Payments on long-term debt — (1,246 ) (212 ) — (1,458 ) Extinguishment of long-term debt (740 ) — — — (740 ) Proceeds from share award plans — — — 1,077 1,077 Purchase of treasury shares (7,676 ) — — — (7,676 ) Borrowings and repayments of intercompany debt — 1,077 — (1,077 ) — Net cash used in financing activities (8,416 ) (169 ) (212 ) — (8,797 ) Effects of exchange rate changes on cash and cash equivalents — — 35 — 35 Net increase (decrease) in cash and cash equivalents 57,245 — (262 ) — 56,983 Cash, cash equivalents and restricted cash, beginning of period 48,396 — 2,357 — 50,753 Cash, cash equivalents and restricted cash, end of period $ 105,641 $ — $ 2,095 $ — $ 107,736 Supplemental Condensed Consolidating Statements of Cash Flows for the Nine Months Ended September 30, 2018 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Net cash provided by operating activities $ 35,550 $ 13,319 $ 1,483 $ — $ 50,352 Cash flows from investing activities: Purchases of property and equipment — (7,461 ) (225 ) — (7,686 ) Proceeds from disposition of property and equipment — 29,520 — — 29,520 Dividends received from equity investees — 1,000 — — 1,000 Principal payments on notes due from equity investees — 401 — — 401 Principal payments on third party notes receivable — 620 — — 620 Net cash provided by (used in) investing activities — 24,080 (225 ) — 23,855 Cash flows from financing activities: Long-term debt issuance costs — — — (1,295 ) (1,295 ) Payments on long-term debt — (1,247 ) (2,315 ) (39,000 ) (42,562 ) Proceeds from share award plans — — — 893 893 Borrowings and repayments of intercompany debt — (39,402 ) — 39,402 — Net cash used in financing activities — (40,649 ) (2,315 ) — (42,964 ) Effects of exchange rate changes on cash and cash equivalents — — (445 ) — (445 ) Net increase (decrease) in cash and cash equivalents 35,550 (3,250 ) (1,502 ) — 30,798 Cash, cash equivalents and restricted cash, beginning of period 10,800 3,250 2,783 — 16,833 Cash, cash equivalents and restricted cash, end of period $ 46,350 $ — $ 1,281 $ — $ 47,631

BASIS OF PRESENTATION AND ACC_2

BASIS OF PRESENTATION AND ACCOUNTING POLICY (Policy)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Consolidation	Basis of Consolidation. The consolidated financial statements include the accounts of Era Group Inc., its wholly and majority-owned subsidiaries and entities that meet the criteria of VIEs of which the Company is the primary beneficiary. Aeróleo Taxi Aereo S/A (“Aeróleo”) is a VIE of which the Company is the primary beneficiary. All significant inter-company accounts and transactions are eliminated in consolidation.
Reclassification	Reclassification. Certain amounts reported for prior periods in the consolidated financial statements have been reclassified to conform with the current period’s presentation.
Revenue Recognition	Revenue Recognition. The Company recognizes revenues for flight services and emergency response services with the passing of each day as the Company has the right to consideration from its customers in an amount that corresponds directly with the value to the Company’s customer of the performance completed to date. Therefore, the Company has elected to exercise the right to invoice practical expedient in its adoption of ASC 606. The right to invoice represents a method for recognizing revenue over time using the output measure of “value to the customer” which is an objective measure of an entity’s performance in a contract. The Company typically invoices its customers on a monthly basis for revenues earned during the prior month with payment terms of 30 days. The Company’s customer arrangements do not contain any significant financing component for its customers.
Trade Receivables	Trade Receivables. Customers are primarily international, independent and major integrated exploration, development and production companies, third party helicopter operators and the U.S. government. Customers are typically granted credit on a short-term basis, and related credit risks are considered minimal. The Company routinely reviews its trade receivables and makes provisions for probable doubtful accounts; however, those provisions are estimates. Actual results could differ from those estimates, and those differences may be material.
Leases	Leases. The Company determines if an arrangement is a lease at inception or during modification or renewal of an existing lease. Operating leases are maintained for a number of fixed assets including land, hangars, buildings, fuel tanks and tower sites. The right-of-use assets associated with these leases are reflected under long-term assets; the current portion of the long-term payables are reflected under other current liabilities; and the payables on lease agreements past one year are recorded as long-term liabilities on the Company’s consolidated balance sheets. For those contracts with terms of twelve months or less, the lease expense is recognized on a straight-line basis over the lease term and recorded in operating expenses on the consolidated statement of operations. As most of the Company’s leases do not provide an implicit rate, the incremental borrowing rate based on the information available at commencement date is used to determine the present value of future payments. Most of the Company’s lease agreements allow the option of renewal or extension, which are considered a part of the lease term. When it is reasonably certain that a lease will be extended, this is incorporated into the calculations.
New Accounting Standards	New Accounting Standards - Adopted. In February 2016, the Financial Accounting Standards Board (“ FASB”) issued ASU No. 2016-02, “Leases” (ASU No. 2016-02), which establishes comprehensive accounting and financial reporting requirements for leasing arrangements. This ASU supersedes the existing requirements in FASB ASC Topic 840, “Leases,” and requires lessees to recognize substantially all lease assets and lease liabilities on the balance sheet. The provisions of ASU No. 2016-02 also modify the definition of a lease and outline requirements for recognition, measurement, presentation and disclosure of leasing arrangements by both lessees and lessors. This ASU is effective for interim and annual periods beginning after December 15, 2018, and early adoption of the standard is permitted. In July 2018, the ASU No. 2016-02 was further amended by the provisions of ASU No. 2018-11, “Targeted Improvements” to Topic 842 whereby the FASB decided to provide an alternate transition method by allowing entities to initially apply the new leases standard at the adoption date (such as January 1, 2019, for calendar year-end public business entities) and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption consistent with preparers’ requests. The Company adopted ASU No. 2016-02, as amended, effective January 1, 2019, using the current-period adjustment method and has recognized a cumulative-effect adjustment to the opening balance of retained earnings in that period. The Company has elected an optional practical expedient to retain its current classification of leases, and as a result, the initial impact of adopting this new standard has not been material to its consolidated financial statements. The cumulative effect of the adoption on retained earrings is less than $0.1 million . Additionally, the Company elected not to bifurcate and separately account for non lease components contained in a single contract. See note 4 - Leases for additional information related to the Company’s operating leases. In August 2018, the FASB issued ASU No. 2018-15, “Intangibles-Goodwill and Other-Internal-Use Software” (Subtopic 350-40), providing guidance addressing a customer's accounting for implementation costs incurred in a cloud computing arrangement (“CCA”) that is considered a service contract. Under the new guidance, implementation costs for a CCA are evaluated for capitalization using the same approach as implementation costs associated with internal-use software and should be expensed over the term of the hosting arrangement, which includes any reasonably certain renewal periods. The new guidance is effective for fiscal years beginning after December 15, 2019 for calendar year-end public business entities. Early adoption is permitted, including adoption in any interim period. The Company will not take possession of implemented software and will rely on vendors to host the software, thus determining the cloud computing arrangements are service contracts. The Company adopted ASU No. 2016-13, effective January 1, 2019, and has appropriately accounted for the implementation costs of the cloud computing arrangements entered into in the first half of 2019. The adoption of ASU-2018-15 did not have a material impact on the Company’s consolidated financial statements. New Accounting Standards - Not Yet Adopted. In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments” (ASU No. 2016-13), which sets forth the current expected credit loss model, a new forward-looking impairment model for certain financial instruments based on expected losses rather than incurred losses. The ASU is effective for interim and annual periods beginning after December 15, 2019, and early adoption of the standard is permitted. Entities are required to adopt ASU No. 2016-13 using a modified retrospective approach, subject to certain limited exceptions. The Company is currently evaluating the potential impact of the adoption of this ASU on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, “Fair Value Measurements” (ASU No. 2018-13, update to topic ASC-820), providing guidance for the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period, and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. For certain unobservable inputs, an entity may disclose other quantitative information (such as the median or arithmetic average) in lieu of the weighted average if the entity determines that other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 fair value measurements. ASU No. 2018-13 will be effective for interim and annual periods beginning after December 15, 2019. The Company has not adopted ASU No. 2018-13 and believes such adoption will not have a material impact on its consolidated financial statements.

BASIS OF PRESENTATION AND ACC_3

BASIS OF PRESENTATION AND ACCOUNTING POLICY (Tables)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	The following table sets forth the Company’s reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Statement of Cash Flows (in thousands): September 30, 2019 December 31, 2018 September 30, 2018 December 31, 2017 Cash and cash equivalents $ 107,736 $ 50,753 $ 47,631 $ 13,583 Restricted cash (1) — — — 3,250 Total cash, cash equivalents and restricted cash shown in the Consolidated Statement of Cash Flows $ 107,736 $ 50,753 $ 47,631 $ 16,833 (1) Restricted cash represents amounts deposited in escrow accounts at the end of each period. Escrow deposits are shown as a separate line item in the consolidated balance sheet.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Estimated Fair Value Of Other Financial Assets And Liabilities	The estimated fair values of the Company’s other financial assets and liabilities as of September 30, 2019 and December 31, 2018 were as follows (in thousands): Carrying Amount Level 1 Level 2 Level 3 September 30, 2019 LIABILITIES Long-term debt, including current portion $ 160,576 $ — $ 168,920 $ — December 31, 2018 LIABILITIES Long-term debt, including current portion $ 162,275 $ — $ 159,367 $ —

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Lease Maturity Analysis - ASC 840	The Company’s maturity analysis of lease payments under operating leases that had a remaining term in excess of one year as of December 31, 2018 was as follows (in thousands): Minimum Payments 2019 $ 1,573 2020 1,530 2021 987 2022 562 2023 495 Years subsequent to 2023 7,952 Total future minimum lease payments $ 13,099
Lease Maturity Analysis - ASC 842	The Company’s maturity analysis of lease payments under operating leases that have a remaining term in excess of one year as of September 30, 2019 was as follows (in thousands): Minimum Payments 2019 $ 547 2020 2,369 2021 1,758 2022 1,334 2023 1,298 Years subsequent to 2023 9,358 Total future minimum lease payments 16,664 Less: imputed interest 6,676 Present value of lease liabilities $ 9,988
Assets and Liabilities, Lessee	Reported balances: Other current liabilities $ 1,822 Long-term lease liabilities 8,166 Total operating lease liabilities $ 9,988
Lease, Cost	As of September 30, 2019 , other information related to these leases was as follows: Weighted average remaining lease term 15 years Weighted average discount rate 6.09 % Cash paid for amounts included in the measurement of lease liabilities during the nine months ended September 30, 2019 (in thousands) $ 1,570

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Debt	The Company’s borrowings as of September 30, 2019 and December 31, 2018 were as follows (in thousands): September 30, 2019 December 31, 2018 7.750% Senior Notes (excluding unamortized discount) $ 144,088 $ 144,828 Senior secured revolving credit facility — — Promissory notes 18,732 19,980 Other 182 395 Total principal balance on borrowings 163,002 165,203 Portion due within one year (1,845 ) (2,058 ) Unamortized debt issuance costs (1,419 ) (1,712 ) Unamortized discount, net (1,007 ) (1,216 ) Long-term debt $ 158,731 $ 160,217

EARNINGS (LOSS) PER COMMON SH_2

EARNINGS (LOSS) PER COMMON SHARE (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Computation of basic and diluted earnings per common share	Computations of basic and diluted earnings per common share of the Company for the three and nine months ended September 30, 2019 and 2018 were as follows (in thousands, except share and per share data): Three Months Ended Nine Months Ended 2019 2018 2019 2018 Net income (loss) attributable to Era Group Inc. $ (1,910 ) $ 31,289 $ (2,913 ) $ 19,716 Less: Net income attributable to participating securities — 714 — 425 Net income (loss) attributable to fully vested common stock $ (1,910 ) $ 30,575 $ (2,913 ) $ 19,291 Weighted average common shares outstanding: Basic 20,625,408 21,215,576 21,129,722 21,139,212 Diluted (1) 20,629,328 21,239,189 21,131,029 21,156,466 Income (loss) per common share, basic and diluted $ (0.09 ) $ 1.44 $ (0.14 ) $ 0.91 ____________________ (1) Excludes weighted average common shares of 207,532 and 224,769 for the three months ended September 30, 2019 and 2018 , respectively, and 204,919 and 223,921 for the nine months ended September 30, 2019 and 2018 , respectively, for certain share awards as the effect of their inclusion would have been antidilutive.

REVENUES (Tables)

REVENUES (Tables)	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents the Company’s operating revenues disaggregated by geographical region in which services are provided: Three Months Ended Nine Months Ended 2019 2018 2019 2018 Operating revenues: U.S. $ 38,027 $ 38,229 $ 107,016 $ 117,673 International 16,632 13,665 46,553 43,443 Total operating revenues $ 54,659 $ 51,894 $ 153,569 $ 161,116 The following table presents the Company’s total revenues earned by service line: Three Months Ended Nine Months Ended 2019 2018 2019 2018 Revenues: Oil and gas flight services: U.S. $ 36,226 $ 35,473 $ 101,850 $ 109,778 International 14,740 13,665 42,855 43,443 Total oil and gas 50,966 49,138 144,705 153,221 Emergency response services 3,693 2,756 8,864 7,895 Total operating revenues $ 54,659 $ 51,894 $ 153,569 $ 161,116 Dry-leasing revenues: U.S. 610 1,142 2,055 2,984 International 3,640 1,574 10,058 5,560 Total revenues $ 58,909 $ 54,610 $ 165,682 $ 169,660

SHARE BASED COMPENSATION (Table

SHARE BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Share Based Compensation Plans	The number of shares and weighted average grant price of restricted stock awards during the nine months ended September 30, 2019 were as follows: Number of Shares Weighted Average Grant Price Non-vested as of December 31, 2018 513,766 $ 10.28 Restricted stock awards granted: Non-employee directors 34,488 $ 10.35 Employees 361,056 $ 10.35 Vested (270,997 ) $ 10.36 Forfeited — $ — Non-vested as of September 30, 2019 638,313 $ 10.29

GUARANTORS OF SECURITIES (Table

GUARANTORS OF SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2019
Guarantees [Abstract]
Condensed Consolidating Balance Sheet	Supplemental Condensed Consolidating Balance Sheet as of September 30, 2019 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands, except share data) ASSETS Current assets: Cash and cash equivalents $ 105,639 $ — $ 2,097 $ — $ 107,736 Receivables: Trade, operating, net of allowance for doubtful accounts of $176 — 24,779 6,533 — 31,312 Trade, dry-leasing — 5,864 — — 5,864 Tax receivable — 10 2,695 — 2,705 Other — 11,305 262 — 11,567 Inventories, net — 20,784 42 — 20,826 Prepaid expenses 565 2,046 240 — 2,851 Total current assets 106,204 64,788 11,869 — 182,861 Property and equipment — 884,816 16,764 — 901,580 Accumulated depreciation — (330,543 ) (4,187 ) — (334,730 ) Property and equipment, net — 554,273 12,577 — 566,850 Operating lease right-of-use — 8,095 1,812 — 9,907 Investments in consolidated subsidiaries 183,226 — — (183,226 ) — Intangible assets — — 1,094 — 1,094 Deferred income taxes 12,774 — — (12,774 ) — Intercompany receivables 294,405 — 47 (294,452 ) — Other assets 815 5,145 403 — 6,363 Total assets $ 597,424 $ 632,301 $ 27,802 $ (490,452 ) $ 767,075 LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued expenses $ 134 $ 10,247 $ 1,559 $ — $ 11,940 Accrued wages and benefits 32 7,216 1,712 — 8,960 Accrued interest 3,261 60 — — 3,321 Accrued income taxes 2,922 10 13 — 2,945 Accrued other taxes — 1,693 293 — 1,986 Accrued contingencies — — 548 — 548 Current portion of long-term debt — 1,663 182 — 1,845 Other current liabilities 885 1,585 381 — 2,851 Total current liabilities 7,234 22,474 4,688 — 34,396 Long-term debt 133,662 25,069 — — 158,731 Deferred income taxes — 116,968 1,246 (12,774 ) 105,440 Intercompany payables — 231,203 63,271 (294,474 ) — Operating lease liabilities — 6,731 1,435 — 8,166 Other liabilities — 850 — — 850 Total liabilities 140,896 403,295 70,640 (307,248 ) 307,583 Redeemable noncontrolling interest — 3 2,942 — 2,945 Equity: Common stock, $0.01 par value, 60,000,000 shares authorized; 21,288,619 outstanding, exclusive of treasury shares 224 — — — 224 Additional paid-in capital 451,104 100,307 4,561 (104,869 ) 451,103 Retained earnings 15,352 128,696 (50,341 ) (78,335 ) 15,372 Treasury shares, at cost, 1,149,820 shares (10,152 ) — — — (10,152 ) Total equity 456,528 229,003 (45,780 ) (183,204 ) 456,547 Total liabilities, redeemable noncontrolling interest and stockholders’ equity $ 597,424 $ 632,301 $ 27,802 $ (490,452 ) $ 767,075 Supplemental Condensed Consolidating Balance Sheet as of December 31, 2018 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands, except share data) ASSETS Current assets: Cash and cash equivalents $ 48,396 $ — $ 2,357 $ — $ 50,753 Receivables: Trade, operating, net of allowance for doubtful accounts of $261 — 27,509 5,797 — 33,306 Trade, dry-leasing — 3,803 — — 3,803 Tax receivables — 6 3,181 — 3,187 Other — 1,949 394 — 2,343 Inventories, net — 20,633 40 — 20,673 Prepaid expenses 398 1,219 190 — 1,807 Total current assets 48,794 55,119 11,959 — 115,872 Property and equipment — 900,611 16,550 — 917,161 Accumulated depreciation — (314,567 ) (3,400 ) — (317,967 ) Net property and equipment — 586,044 13,150 — 599,194 Equity investments and advances — 27,112 — — 27,112 Investments in consolidated subsidiaries 172,950 — — (172,950 ) — Intangible assets — — 1,107 — 1,107 Deferred income taxes 9,904 — — (9,904 ) — Intercompany receivables 366,541 — — (366,541 ) — Other assets 1,251 20,231 96 — 21,578 Total assets $ 599,440 $ 688,506 $ 26,312 $ (549,395 ) $ 764,863 LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued expenses $ 136 $ 11,357 $ 1,668 $ — $ 13,161 Accrued wages and benefits 43 7,743 1,481 — 9,267 Accrued interest 500 69 — — 569 Accrued income taxes 918 6 49 — 973 Accrued other taxes — 768 500 — 1,268 Accrued contingencies — — 630 — 630 Current portion of long-term debt — 1,663 395 — 2,058 Other current liabilities 647 220 11 — 878 Total current liabilities 2,244 21,826 4,734 — 28,804 Long-term debt 133,900 26,317 — — 160,217 Deferred income taxes — 117,015 1,245 (9,903 ) 108,357 Intercompany payables — 310,727 55,847 (366,574 ) — Other liabilities — 720 27 — 747 Total liabilities 136,144 476,605 61,853 (376,477 ) 298,125 Redeemable noncontrolling interest — 3 3,299 — 3,302 Equity: Common stock, $0.01 par value, 60,000,000 shares authorized; 21,765,404 shares outstanding, exclusive of treasury shares 219 — — — 219 Additional paid-in capital 447,299 100,306 4,562 (104,869 ) 447,298 Retained earnings 18,254 111,482 (43,402 ) (68,049 ) 18,285 Treasury shares, at cost, 156,737 shares (2,476 ) — — — (2,476 ) Accumulated other comprehensive income, net of tax — 110 — — 110 Total equity 463,296 211,898 (38,840 ) (172,918 ) 463,436 Total liabilities, redeemable noncontrolling interest and stockholders’ equity $ 599,440 $ 688,506 $ 26,312 $ (549,395 ) $ 764,863
Condensed Consolidating Statements of Operations	Supplemental Condensed Consolidating Statements of Operations for the Three Months Ended September 30, 2019 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Revenues $ — $ 53,633 $ 14,681 $ (9,405 ) $ 58,909 Costs and expenses: Operating — 32,926 16,001 (9,405 ) 39,522 Administrative and general 1,025 7,177 940 — 9,142 Depreciation — 9,100 212 — 9,312 Total costs and expenses 1,025 49,203 17,153 (9,405 ) 57,976 Gains on asset dispositions, net — 754 — — 754 Operating income (loss) (1,025 ) 5,184 (2,472 ) — 1,687 Other income (expense): Interest income 492 444 20 — 956 Interest expense (3,263 ) (193 ) (8 ) — (3,464 ) Foreign currency gains, net (81 ) (104 ) (533 ) — (718 ) Other, net (4 ) 5 (6 ) — (5 ) Total other income (expense) (2,856 ) 152 (527 ) — (3,231 ) Income (loss) before income taxes and equity earnings (3,881 ) 5,336 (2,999 ) — (1,544 ) Income tax (benefit) expense (432 ) 947 — — 515 Income (loss) before equity earnings (3,449 ) 4,389 (2,999 ) — (2,059 ) Equity in earnings (losses) of subsidiaries 1,541 — — (1,541 ) — Net income (loss) (1,908 ) 4,389 (2,999 ) (1,541 ) (2,059 ) Net loss attributable to noncontrolling interest in subsidiary — — 149 — 149 Net income (loss) attributable to Era Group Inc. $ (1,908 ) $ 4,389 $ (2,850 ) $ (1,541 ) $ (1,910 ) Supplemental Condensed Consolidating Statements of Operations for the Three Months Ended September 30, 2018 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Revenues $ — $ 48,631 $ 13,623 $ (7,644 ) $ 54,610 Costs and expenses: Operating — 29,888 14,302 (7,677 ) 36,513 Administrative and general 901 6,957 979 — 8,837 Depreciation — 9,316 225 — 9,541 Total costs and expenses 901 46,161 15,506 (7,677 ) 54,891 Losses on asset dispositions, net — (148 ) — — (148 ) Litigation settlement proceeds 42,000 — — — 42,000 Operating income (loss) loss 41,099 2,322 (1,883 ) 33 41,571 Other income (expense): Interest income 171 448 113 — 732 Interest expense (3,330 ) (204 ) (15 ) — (3,549 ) Foreign currency losses, net (10 ) (16 ) (68 ) — (94 ) Other, net — 21 (6 ) — 15 Total other income (expense) (3,169 ) 249 24 — (2,896 ) Income (loss) before income taxes and equity earnings 37,930 2,571 (1,859 ) 33 38,675 Income tax expense 3,928 3,933 — — 7,861 Income (loss) before equity earnings 34,002 (1,362 ) (1,859 ) 33 30,814 Equity in earnings (losses) of subsidiaries (2,747 ) 465 — 2,747 465 Net income (loss) 31,255 (897 ) (1,859 ) 2,780 31,279 Net loss attributable to noncontrolling interest in subsidiary — — 10 — 10 Net income (loss) attributable to Era Group Inc. $ 31,255 $ (897 ) $ (1,849 ) $ 2,780 $ 31,289 Supplemental Condensed Consolidating Statements of Operations for the Nine Months Ended September 30, 2019 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Revenues $ — $ 148,992 $ 42,835 $ (26,145 ) $ 165,682 Costs and expenses: Operating — 94,977 46,195 (26,134 ) 115,038 Administrative and general 4,009 20,135 2,768 — 26,912 Depreciation — 27,572 710 — 28,282 Total costs and expenses 4,009 142,684 49,673 (26,134 ) 170,232 Gains on asset dispositions, net — 562 — — 562 Operating income (loss) (4,009 ) 6,870 (6,838 ) (11 ) (3,988 ) Other income (expense): Interest income 1,135 1,423 84 — 2,642 Interest expense (9,721 ) (614 ) (22 ) — (10,357 ) Loss on sale of investments (569 ) — — — (569 ) Foreign currency gains, net (93 ) 15 (496 ) — (574 ) Loss on debt extinguishment (13 ) — — — (13 ) Other, net (20 ) 16 (21 ) — (25 ) Total other income (expense) (9,281 ) 840 (455 ) — (8,896 ) Income (loss) before income taxes and equity earnings (13,290 ) 7,710 (7,293 ) (11 ) (12,884 ) Income tax expense (benefit) (114 ) 435 — — 321 Income (loss) before equity earnings (13,176 ) 7,275 (7,293 ) (11 ) (13,205 ) Equity in earnings (losses) of subsidiaries 10,275 9,935 — (10,275 ) 9,935 Net income (loss) (2,901 ) 17,210 (7,293 ) (10,286 ) (3,270 ) Net loss attributable to noncontrolling interest in subsidiary — — 357 — 357 Net income (loss) attributable to Era Group Inc. $ (2,901 ) $ 17,210 $ (6,936 ) $ (10,286 ) $ (2,913 ) Supplemental Condensed Consolidating Statements of Operations for the Nine Months Ended September 30, 2018 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Revenues $ — $ 148,512 $ 42,252 $ (21,104 ) $ 169,660 Costs and expenses: Operating — 92,317 43,325 (21,137 ) 114,505 Administrative and general 14,087 18,182 3,445 — 35,714 Depreciation — 29,283 728 — 30,011 Total costs and expenses 14,087 139,782 47,498 (21,137 ) 180,230 Gains on asset dispositions, net — 2,269 — — 2,269 Litigation settlement proceeds 42,000 — — — 42,000 Operating income (loss) 27,913 10,999 (5,246 ) 33 33,699 Other income (expense): Interest income 180 878 166 — 1,224 Interest expense (10,925 ) (595 ) (126 ) — (11,646 ) Foreign currency losses, net (66 ) (141 ) (888 ) — (1,095 ) Gain on debt extinguishment — — 175 — 175 Other, net — 31 (10 ) — 21 Total other income (expense) (10,811 ) 173 (683 ) — (11,321 ) Income (loss) before income taxes and equity earnings 17,102 11,172 (5,929 ) 33 22,378 Income tax benefit 1,075 3,474 — — 4,549 Income (loss) before equity earnings 16,027 7,698 (5,929 ) 33 17,829 Equity in earnings (losses) of subsidiaries 3,655 1,577 — (3,655 ) 1,577 Net income (loss) 19,682 9,275 (5,929 ) (3,622 ) 19,406 Net loss attributable to noncontrolling interest in subsidiary — — 310 — 310 Net income (loss) attributable to Era Group Inc. $ 19,682 $ 9,275 $ (5,619 ) $ (3,622 ) $ 19,716
Condensed Consolidating Statements of Comprehensive Income	Supplemental Condensed Consolidating Statements of Comprehensive Income for the Three Months Ended September 30, 2019 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Net income (loss) $ (1,908 ) $ 4,389 $ (2,999 ) $ (1,541 ) $ (2,059 ) Comprehensive income (loss) (1,908 ) 4,389 (2,999 ) (1,541 ) (2,059 ) Comprehensive loss attributable to noncontrolling interest in subsidiary — — 149 — 149 Comprehensive income (loss) attributable to Era Group Inc. $ (1,908 ) $ 4,389 $ (2,850 ) $ (1,541 ) $ (1,910 ) Supplemental Condensed Consolidating Statements of Comprehensive Income for the Three Months Ended September 30, 2018 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Net income (loss) $ 31,255 $ (897 ) $ (1,859 ) $ 2,780 $ 31,279 Comprehensive income (loss) 31,255 (897 ) (1,859 ) 2,780 31,279 Comprehensive loss attributable to noncontrolling interest in subsidiary — — 10 — 10 Comprehensive income (loss) attributable to Era Group Inc. $ 31,255 $ (897 ) $ (1,849 ) $ 2,780 $ 31,289 Supplemental Condensed Consolidating Statements of Comprehensive Income for the Nine Months Ended September 30, 2019 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Net income (loss) $ (2,901 ) $ 17,210 $ (7,293 ) $ (10,286 ) $ (3,270 ) Other comprehensive loss: Foreign currency translation adjustments — (110 ) — — (110 ) Total other comprehensive loss — (110 ) — — (110 ) Comprehensive income (loss) (2,901 ) 17,100 (7,293 ) (10,286 ) (3,380 ) Comprehensive loss attributable to noncontrolling interest in subsidiary — — 357 — 357 Comprehensive income (loss) attributable to Era Group Inc. $ (2,901 ) $ 17,100 $ (6,936 ) $ (10,286 ) $ (3,023 ) Supplemental Condensed Consolidating Statements of Comprehensive Income for the Nine Months Ended September 30, 2018 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Net income (loss) $ 19,682 $ 9,275 $ (5,929 ) $ (3,622 ) $ 19,406 Other comprehensive loss: Foreign currency translation adjustments — (5 ) — — (5 ) Total other comprehensive loss — (5 ) — — (5 ) Comprehensive income (loss) 19,682 9,270 (5,929 ) (3,622 ) 19,401 Comprehensive loss attributable to noncontrolling interest in subsidiary — — 310 — 310 Comprehensive income (loss) attributable to Era Group Inc. $ 19,682 $ 9,270 $ (5,619 ) $ (3,622 ) $ 19,711
Condensed Consolidating Statements of Cash Flows	Supplemental Condensed Consolidating Statements of Cash Flows for the Nine Months Ended September 30, 2019 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Net cash provided by (used in) operating activities $ 66,231 $ (46,413 ) $ 27 $ — $ 19,845 Cash flows from investing activities: Purchases of property and equipment — (5,056 ) (112 ) — (5,168 ) Proceeds from disposition of property and equipment — 9,252 — — 9,252 Purchase of investments (5,000 ) — — — (5,000 ) Proceeds from sale of investments 4,430 — — — 4,430 Proceeds from sale of equity investees — 34,712 — — 34,712 Principal payments on notes due from equity investees — 2,334 — — 2,334 Principal payments on third party notes receivable — 5,340 — — 5,340 Net cash provided by (used in) investing activities (570 ) 46,582 (112 ) — 45,900 Cash flows from financing activities: Payments on long-term debt — (1,246 ) (212 ) — (1,458 ) Extinguishment of long-term debt (740 ) — — — (740 ) Proceeds from share award plans — — — 1,077 1,077 Purchase of treasury shares (7,676 ) — — — (7,676 ) Borrowings and repayments of intercompany debt — 1,077 — (1,077 ) — Net cash used in financing activities (8,416 ) (169 ) (212 ) — (8,797 ) Effects of exchange rate changes on cash and cash equivalents — — 35 — 35 Net increase (decrease) in cash and cash equivalents 57,245 — (262 ) — 56,983 Cash, cash equivalents and restricted cash, beginning of period 48,396 — 2,357 — 50,753 Cash, cash equivalents and restricted cash, end of period $ 105,641 $ — $ 2,095 $ — $ 107,736 Supplemental Condensed Consolidating Statements of Cash Flows for the Nine Months Ended September 30, 2018 Parent Guarantors Non-guarantors Eliminations Consolidated (in thousands) Net cash provided by operating activities $ 35,550 $ 13,319 $ 1,483 $ — $ 50,352 Cash flows from investing activities: Purchases of property and equipment — (7,461 ) (225 ) — (7,686 ) Proceeds from disposition of property and equipment — 29,520 — — 29,520 Dividends received from equity investees — 1,000 — — 1,000 Principal payments on notes due from equity investees — 401 — — 401 Principal payments on third party notes receivable — 620 — — 620 Net cash provided by (used in) investing activities — 24,080 (225 ) — 23,855 Cash flows from financing activities: Long-term debt issuance costs — — — (1,295 ) (1,295 ) Payments on long-term debt — (1,247 ) (2,315 ) (39,000 ) (42,562 ) Proceeds from share award plans — — — 893 893 Borrowings and repayments of intercompany debt — (39,402 ) — 39,402 — Net cash used in financing activities — (40,649 ) (2,315 ) — (42,964 ) Effects of exchange rate changes on cash and cash equivalents — — (445 ) — (445 ) Net increase (decrease) in cash and cash equivalents 35,550 (3,250 ) (1,502 ) — 30,798 Cash, cash equivalents and restricted cash, beginning of period 10,800 3,250 2,783 — 16,833 Cash, cash equivalents and restricted cash, end of period $ 46,350 $ — $ 1,281 $ — $ 47,631

BASIS OF PRESENTATION AND ACC_4

BASIS OF PRESENTATION AND ACCOUNTING POLICY Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	Sep. 30, 2019		Dec. 31, 2018		Sep. 30, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 107,736	[1]	$ 50,753	[1]	$ 47,631	$ 13,583
Restricted cash	0		0		0	3,250
Total cash, cash equivalents and restricted cash shown in the Consolidated Statement of Cash Flows	$ 107,736		$ 50,753		$ 47,631	$ 16,833
[1]	Refer to footnote 5 for more detail on variable interest entities (“VIE”)

BASIS OF PRESENTATION AND ACC_5

BASIS OF PRESENTATION AND ACCOUNTING POLICY Narrative (Details) $ in Millions	Jan. 01, 2019USD ($)
Retained Earnings | Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of adoption, less than	$ 0.1

FAIR VALUE MEASUREMENTS - Estim

FAIR VALUE MEASUREMENTS - Estimated Fair Value Of Other Financial Assets And Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, including current portion			$ 160,576		$ 162,275
Purchase of investments		$ 5,000	5,000	$ 0
Cash proceeds from sale of investment	$ 4,400		4,430	$ 0
Net loss on sale of investments	$ 600
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, including current portion			0		0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, including current portion			168,920		159,367
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, including current portion			$ 0		$ 0

ACQUISITIONS AND DISPOSITIONS (

ACQUISITIONS AND DISPOSITIONS (Details)	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)helicopter	Sep. 30, 2019USD ($)helicopteroperating_facility	Sep. 30, 2018USD ($)helicopteroperating_facility	Dec. 31, 2018USD ($)helicopter
Property, Plant and Equipment [Line Items]
Purchases of property and equipment		$ 5,168,000	$ 7,686,000
Interest capitalized during the period		$ 0	100,000
Number of helicopter acquisitions | helicopter		0
Proceeds from disposition of property and equipment		$ 9,252,000	$ 29,520,000
Number of helicopter dispositions | helicopter	2	3	20	6
Number of operating facilities dispositions | operating_facility		2	2
Accounts receivable acquired			$ 14,300,000
Construction in Progress
Property, Plant and Equipment [Line Items]
Interest capitalized in property and equipment	$ 700,000	$ 700,000		$ 700,000
S92 Heavy Helicopters
Property, Plant and Equipment [Line Items]
Number of helicopter acquisitions | helicopter			1

LEASES - Future Minimum Payment

LEASES - Future Minimum Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Lease Maturity Analysis - ASC 840
2019		$ 1,573
2020		1,530
2021		987
2022		562
2023		495
Years subsequent to 2023		7,952
Total future minimum lease payments		$ 13,099
Lease Maturity Analysis - ASC 842
2019	$ 547
2020	2,369
2021	1,758
2022	1,334
2023	1,298
Years subsequent to 2023	9,358
Total future minimum lease payments	16,664
Less: imputed interest	6,676
Present value of lease liabilities	$ 9,988

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in Thousands	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)helicopter	Sep. 30, 2019USD ($)helicopter	Sep. 30, 2018USD ($)helicopter	Dec. 31, 2018helicopter
Property, Plant and Equipment [Line Items]
Rental expense	$ 1,300	$ 2,900
Short-term lease expense	$ 700	$ 1,200
Number of helicopter dispositions | helicopter	2	3	20	6
Sales-type lease, interest income	$ 400	$ 1,400
Proceeds from disposition of property and equipment		9,252	$ 29,520
Sales-type lease receivables	13,600	13,600
Sales-type lease receivables, current	9,800	9,800
Sales-type lease receivables, non-current	3,800	$ 3,800
H225 Helicopters
Property, Plant and Equipment [Line Items]
Proceeds from disposition of property and equipment	$ 5,000
Minimum
Property, Plant and Equipment [Line Items]
Remaining lease term		1 year
Maximum
Property, Plant and Equipment [Line Items]
Remaining lease term		60 years

LEASES - Reported Balances (Det

LEASES - Reported Balances (Details) $ in Thousands	Sep. 30, 2019USD ($)
Leases [Abstract]
Other current liabilities	$ 1,822
Long-term lease liabilities	8,166
Total operating lease liabilities	$ 9,988

LEASES - Other Information (Det

LEASES - Other Information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Leases [Abstract]
Weighted average remaining lease term	15 years
Weighted average discount rate	6.09%
Cash paid for amounts included in the measurement of lease liabilities during the nine months ended September 30, 2019 (in thousands)	$ 1,570

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details) - Aeroleo - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018	Dec. 31, 2011
Variable Interest Entity [Line Items]
Economic interest percent	50.00%		50.00%
Voting interest percent	20.00%		20.00%
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	$ 14.2	$ 11.9
Liabilities	$ 5.9	$ 4.5

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax expense	$ 515	$ 7,861	$ 321	$ 4,549
Effective tax rate	(33.40%)	20.30%	(2.50%)	20.30%
Unrecognized tax benefits	$ 100		$ 100		$ 100

LONG-TERM DEBT - Schedule of Lo

LONG-TERM DEBT - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total principal balance on borrowings	$ 163,002	$ 165,203
Portion due within one year	(1,845)	(2,058)
Unamortized debt issuance costs	(1,419)	(1,712)
Unamortized discount, net	(1,007)	(1,216)
Long-term debt	158,731	160,217
7.750% Senior Notes
Debt Instrument [Line Items]
Total principal balance on borrowings	144,088	144,828
Senior secured revolving credit facility
Debt Instrument [Line Items]
Total principal balance on borrowings	0	0
Promissory notes
Debt Instrument [Line Items]
Total principal balance on borrowings	18,732	19,980
Other
Debt Instrument [Line Items]
Total principal balance on borrowings	$ 182	$ 395

LONG-TERM DEBT - Narrative (Det

LONG-TERM DEBT - Narrative (Details) - USD ($)	Dec. 07, 2012	Jun. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Mar. 07, 2018	Mar. 06, 2018
Debt Instrument [Line Items]
Loss on repurchased debt			$ 0	$ 0	$ 13,000	$ (175,000)
Payments of debt issuance costs					0	1,295,000
7.750% Senior Notes | Senior Unsecured Notes Due December 15, 2022
Debt Instrument [Line Items]
Aggregate principal amount	$ 200,000,000
Stated interest rate	7.75%
Proceeds from issuance of long-term debt	$ 191,900,000
Debt repurchased		$ 700,000
Payments on long-term debt		700,000
Debt repurchased, accrued interest		100,000
Loss on repurchased debt		$ 100,000
Promissory notes
Debt Instrument [Line Items]
Payments on long-term debt					1,200,000	$ 1,200,000
Senior secured revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing amount			125,000,000		125,000,000		$ 125,000,000	$ 200,000,000
Interest coverage ratio							175.00%
Senior secured leverage ratio							325.00%
Increase in commitments due to accordion feature			50,000,000		$ 50,000,000
Commitment fee basis point					0.50%
Letters of credit outstanding			700,000		$ 700,000
Write off of deferred debt issuance cost					400,000
Payments of debt issuance costs					$ 1,300,000
Senior secured revolving credit facility | Minimum
Debt Instrument [Line Items]
Commitment fee basis point					0.375%
Senior secured revolving credit facility | Maximum
Debt Instrument [Line Items]
Commitment fee basis point					0.50%
Senior secured revolving credit facility | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate					2.25%
Senior secured revolving credit facility | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate					1.25%
Senior secured revolving credit facility | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate					2.50%
Senior secured revolving credit facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate					3.25%
Senior secured revolving credit facility | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate					2.25%
Senior secured revolving credit facility | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate					3.50%
Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing amount			$ 50,000,000		$ 50,000,000
Tax Disputes | Brazil | Maximum
Debt Instrument [Line Items]
Payments on long-term debt					$ 200,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)helicopter
Loss Contingencies [Line Items]
Unfunded capital commitments	$ 78.2
Deposits paid	1.3
Liquidated damages	2.1
Contingent Fees Sought by Former Tax Consultant | Pending Litigation
Loss Contingencies [Line Items]
Taxes, penalties and interest	0.5
Foreign Tax Authority | Aeroleo | Other Litigation Matters
Loss Contingencies [Line Items]
Other current assets	5.1
Foreign Tax Authority | State of Rio de Janeiro
Loss Contingencies [Line Items]
Taxes, penalties and interest	13.3
Foreign Tax Authority | State of Rio de Janeiro | Aeroleo
Loss Contingencies [Line Items]
Taxes, penalties and interest	$ 9.9
AW189 Heavy Helicopters
Loss Contingencies [Line Items]
Number of helicopters | helicopter	3
Number of additional helicopters | helicopter	10
AW169 Light Twin Helicopters
Loss Contingencies [Line Items]
Number of helicopters | helicopter	5

EARNINGS (LOSS) PER COMMON SH_3

EARNINGS (LOSS) PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income (loss) attributable to Era Group Inc.	$ (1,910)	$ 31,289	$ (2,913)	$ 19,716
Less: Net income attributable to participating securities	0	714	0	425
Net income (loss) attributable to fully vested common stock	$ (1,910)	$ 30,575	$ (2,913)	$ 19,291
Weighted average common shares outstanding:
Basic (in shares)	20,625,408	21,215,576	21,129,722	21,139,212
Diluted (in shares)	20,629,328	21,239,189	21,131,029	21,156,466
Income (loss) per common share:
Income (loss) per common share, basic and diluted (in dollars per shares)	$ (0.09)	$ 1.44	$ (0.14)	$ 0.91
Stock Options and Restricted Stock
Weighted average common shares outstanding:
Diluted (in shares)	20,629,328	21,239,189	21,131,029	21,156,466
Income (loss) per common share:
Weighted average antidilutive shares (in shares)	207,532	224,769	204,919	223,921

EARNINGS (LOSS) PER COMMON SH_4

EARNINGS (LOSS) PER COMMON SHARE - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Aug. 14, 2014
Equity, Class of Treasury Stock [Line Items]
Treasury shares authorized to repurchase			$ 25,000
Treasury shares (in shares)	188,553
Purchase of treasury shares	$ 1,621	$ 7,676
Treasury stock acquired (in dollars per share)	$ 8.45
Remaining treasury shares authorized	$ 15,300	$ 15,300
Board Approved Plan
Equity, Class of Treasury Stock [Line Items]
Treasury shares (in shares)		988,721
Purchase of treasury shares		$ 7,600
Treasury stock acquired (in dollars per share)		$ 7.72

REVENUES - Operating Revenue (D

REVENUES - Operating Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Total revenues	$ 58,909	$ 54,610	$ 165,682	$ 169,660
Dry-leasing | U.S.
Disaggregation of Revenue [Line Items]
Total revenues	610	1,142	2,055	2,984
Dry-leasing | International
Disaggregation of Revenue [Line Items]
Total revenues	3,640	1,574	10,058	5,560
Operating Income
Disaggregation of Revenue [Line Items]
Total revenues	54,659	51,894	153,569	161,116
Operating Income | U.S.
Disaggregation of Revenue [Line Items]
Total revenues	38,027	38,229	107,016	117,673
Operating Income | International
Disaggregation of Revenue [Line Items]
Total revenues	16,632	13,665	46,553	43,443
Operating Income | Oil and Gas
Disaggregation of Revenue [Line Items]
Total revenues	50,966	49,138	144,705	153,221
Operating Income | Oil and Gas | U.S.
Disaggregation of Revenue [Line Items]
Total revenues	36,226	35,473	101,850	109,778
Operating Income | Oil and Gas | International
Disaggregation of Revenue [Line Items]
Total revenues	14,740	13,665	42,855	43,443
Operating Income | Emergency response services
Disaggregation of Revenue [Line Items]
Total revenues	$ 3,693	$ 2,756	$ 8,864	$ 7,895

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	Apr. 01, 2019	Mar. 31, 2019	Sep. 30, 2018	Sep. 30, 2018	Dec. 31, 2018
Related Party Transaction [Line Items]
Proceeds from divestiture of businesses	$ 38
Gain on disposition of business	$ 10.9
Dart
Related Party Transaction [Line Items]
Amount of purchased products		$ 0.6	$ 0.4	$ 1.7
Note receivable					$ 2.3
Training Services | Era Training Center, LLC
Related Party Transaction [Line Items]
Payments for services, less than			0.1	0.2
Era Training Center | Helicopter, Management and Other Services | Era Training Center, LLC
Related Party Transaction [Line Items]
Expenses from transactions with related party			$ 0.1	$ 0.1

SHARE BASED COMPENSATION (Detai

SHARE BASED COMPENSATION (Details) - Restricted Stock	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Number of Shares
Non-vested, beginning balance (in shares) | shares	513,766
Vested (in shares) | shares	(270,997)
Forfeited (in shares) | shares	0
Non-vested, ending balance (in shares) | shares	638,313
Weighted Average Grant Price
Non-vested, beginning balance (USD per share) | $ / shares	$ 10.28
Vested (USD per share) | $ / shares	10.36
Forfeited (USD per share) | $ / shares	0
Non-vested, ending balance (USD per share) | $ / shares	$ 10.29
Non-employee directors
Number of Shares
Restricted stock awards granted (in shares) | shares	34,488
Weighted Average Grant Price
Restricted stock awards granted (USD per share) | $ / shares	$ 10.35
Employees
Number of Shares
Restricted stock awards granted (in shares) | shares	361,056
Weighted Average Grant Price
Restricted stock awards granted (USD per share) | $ / shares	$ 10.35

SHARE BASED COMPENSATION - Narr

SHARE BASED COMPENSATION - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	0
Share-based compensation	$ 2,733	$ 2,180
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of shares vested	$ 2,800	2,800
2013 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued under ESPP (in shares)	120,754
Number of shares available for grant (in shares)	101,624
Share-based compensation	$ 2,700	$ 2,200

GUARANTORS OF SECURITIES (Narra

GUARANTORS OF SECURITIES (Narrative) (Details)	Dec. 07, 2012
Senior Unsecured Notes Due December 15, 2022 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	7.75%

GUARANTORS OF SECURITIES (Conde

GUARANTORS OF SECURITIES (Condensed Balance Sheet) (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 30, 2019		Jun. 30, 2019	Dec. 31, 2018		Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 107,736	[1]		$ 50,753	[1]	$ 47,631		$ 13,583
Receivables:
Trade, operating, net of allowance for doubtful accounts	31,312			33,306
Trade, dry-leasing	5,864			3,803
Tax receivables	2,705			3,187
Other	11,567			2,343
Inventories, net	20,826			20,673
Prepaid expenses	2,851			1,807
Total current assets	182,861			115,872
Property and equipment	901,580			917,161
Accumulated depreciation	(334,730)			(317,967)
Property and equipment, net	566,850			599,194
Operating lease right-of-use	9,907
Equity investments and advances	0			27,112
Investments in consolidated subsidiaries	0			0
Intangible assets	1,094			1,107
Deferred income taxes	0			0
Intercompany receivables	0			0
Other assets	6,363			21,578
Total assets	767,075			764,863
Current liabilities:
Accounts payable and accrued expenses	11,940			13,161
Accrued wages and benefits	8,960			9,267
Accrued interest	3,321			569
Accrued income taxes	2,945			973
Accrued other taxes	1,986			1,268
Accrued contingencies	548			630
Current portion of long-term debt	1,845			2,058
Other current liabilities	2,851			878
Total current liabilities	34,396			28,804
Long-term debt	158,731			160,217
Deferred income taxes	105,440			108,357
Intercompany payables	0			0
Operating lease liabilities	8,166
Other liabilities	850			747
Total liabilities	307,583			298,125
Redeemable noncontrolling interest	2,945		$ 3,094	3,302		3,456	$ 3,466	3,766
Equity:
Common stock, $0.01 par value, 60,000,000 shares authorized; 21,288,619 and 21,765,404 outstanding in 2019 and 2018, respectively, exclusive of treasury shares	224			219
Additional paid-in capital	451,103			447,298
Retained earnings	15,372			18,285
Treasury shares, at cost; 1,149,820 and 156,737 shares in 2019 and 2018, respectively	(10,152)			(2,476)
Accumulated other comprehensive income, net of tax	0			110
Total equity	456,547		$ 458,662	463,436		$ 468,470	$ 436,048	$ 445,681
Total liabilities, redeemable noncontrolling interest and stockholders’ equity	767,075			764,863
Allowance for doubtful accounts, trade receivables	$ 176			$ 261
Common stock, par value (in dollars per share)	$ 0.01			$ 0.01
Common stock, shares authorized (in shares)	60,000,000			60,000,000
Common stock, shares outstanding (in shares)	21,288,619			21,765,404
Treasury shares (in shares)	1,149,820			156,737
Reportable Legal Entities | Parent
Current assets:
Cash and cash equivalents	$ 105,639			$ 48,396
Receivables:
Trade, operating, net of allowance for doubtful accounts	0			0
Trade, dry-leasing	0			0
Tax receivables	0			0
Other	0			0
Inventories, net	0			0
Prepaid expenses	565			398
Total current assets	106,204			48,794
Property and equipment	0			0
Accumulated depreciation	0			0
Property and equipment, net	0			0
Operating lease right-of-use	0
Equity investments and advances				0
Investments in consolidated subsidiaries	183,226			172,950
Intangible assets	0			0
Deferred income taxes	12,774			9,904
Intercompany receivables	294,405			366,541
Other assets	815			1,251
Total assets	597,424			599,440
Current liabilities:
Accounts payable and accrued expenses	134			136
Accrued wages and benefits	32			43
Accrued interest	3,261			500
Accrued income taxes	2,922			918
Accrued other taxes	0			0
Accrued contingencies	0			0
Current portion of long-term debt	0			0
Other current liabilities	885			647
Total current liabilities	7,234			2,244
Long-term debt	133,662			133,900
Deferred income taxes	0			0
Intercompany payables	0			0
Operating lease liabilities	0
Other liabilities	0			0
Total liabilities	140,896			136,144
Redeemable noncontrolling interest	0			0
Equity:
Common stock, $0.01 par value, 60,000,000 shares authorized; 21,288,619 and 21,765,404 outstanding in 2019 and 2018, respectively, exclusive of treasury shares	224			219
Additional paid-in capital	451,104			447,299
Retained earnings	15,352			18,254
Treasury shares, at cost; 1,149,820 and 156,737 shares in 2019 and 2018, respectively	(10,152)			(2,476)
Accumulated other comprehensive income, net of tax				0
Total equity	456,528			463,296
Total liabilities, redeemable noncontrolling interest and stockholders’ equity	597,424			599,440
Reportable Legal Entities | Guarantors
Current assets:
Cash and cash equivalents	0			0
Receivables:
Trade, operating, net of allowance for doubtful accounts	24,779			27,509
Trade, dry-leasing	5,864			3,803
Tax receivables	10			6
Other	11,305			1,949
Inventories, net	20,784			20,633
Prepaid expenses	2,046			1,219
Total current assets	64,788			55,119
Property and equipment	884,816			900,611
Accumulated depreciation	(330,543)			(314,567)
Property and equipment, net	554,273			586,044
Operating lease right-of-use	8,095
Equity investments and advances				27,112
Investments in consolidated subsidiaries	0			0
Intangible assets	0			0
Deferred income taxes	0			0
Intercompany receivables	0			0
Other assets	5,145			20,231
Total assets	632,301			688,506
Current liabilities:
Accounts payable and accrued expenses	10,247			11,357
Accrued wages and benefits	7,216			7,743
Accrued interest	60			69
Accrued income taxes	10			6
Accrued other taxes	1,693			768
Accrued contingencies	0			0
Current portion of long-term debt	1,663			1,663
Other current liabilities	1,585			220
Total current liabilities	22,474			21,826
Long-term debt	25,069			26,317
Deferred income taxes	116,968			117,015
Intercompany payables	231,203			310,727
Operating lease liabilities	6,731
Other liabilities	850			720
Total liabilities	403,295			476,605
Redeemable noncontrolling interest	3			3
Equity:
Common stock, $0.01 par value, 60,000,000 shares authorized; 21,288,619 and 21,765,404 outstanding in 2019 and 2018, respectively, exclusive of treasury shares	0			0
Additional paid-in capital	100,307			100,306
Retained earnings	128,696			111,482
Treasury shares, at cost; 1,149,820 and 156,737 shares in 2019 and 2018, respectively	0			0
Accumulated other comprehensive income, net of tax				110
Total equity	229,003			211,898
Total liabilities, redeemable noncontrolling interest and stockholders’ equity	632,301			688,506
Reportable Legal Entities | Non-guarantors
Current assets:
Cash and cash equivalents	2,097			2,357
Receivables:
Trade, operating, net of allowance for doubtful accounts	6,533			5,797
Trade, dry-leasing	0			0
Tax receivables	2,695			3,181
Other	262			394
Inventories, net	42			40
Prepaid expenses	240			190
Total current assets	11,869			11,959
Property and equipment	16,764			16,550
Accumulated depreciation	(4,187)			(3,400)
Property and equipment, net	12,577			13,150
Operating lease right-of-use	1,812
Equity investments and advances				0
Investments in consolidated subsidiaries	0			0
Intangible assets	1,094			1,107
Deferred income taxes	0			0
Intercompany receivables	47			0
Other assets	403			96
Total assets	27,802			26,312
Current liabilities:
Accounts payable and accrued expenses	1,559			1,668
Accrued wages and benefits	1,712			1,481
Accrued interest	0			0
Accrued income taxes	13			49
Accrued other taxes	293			500
Accrued contingencies	548			630
Current portion of long-term debt	182			395
Other current liabilities	381			11
Total current liabilities	4,688			4,734
Long-term debt	0			0
Deferred income taxes	1,246			1,245
Intercompany payables	63,271			55,847
Operating lease liabilities	1,435
Other liabilities	0			27
Total liabilities	70,640			61,853
Redeemable noncontrolling interest	2,942			3,299
Equity:
Common stock, $0.01 par value, 60,000,000 shares authorized; 21,288,619 and 21,765,404 outstanding in 2019 and 2018, respectively, exclusive of treasury shares	0			0
Additional paid-in capital	4,561			4,562
Retained earnings	(50,341)			(43,402)
Treasury shares, at cost; 1,149,820 and 156,737 shares in 2019 and 2018, respectively	0			0
Accumulated other comprehensive income, net of tax				0
Total equity	(45,780)			(38,840)
Total liabilities, redeemable noncontrolling interest and stockholders’ equity	27,802			26,312
Eliminations
Current assets:
Cash and cash equivalents	0			0
Receivables:
Trade, operating, net of allowance for doubtful accounts	0			0
Trade, dry-leasing	0			0
Tax receivables	0			0
Other	0			0
Inventories, net	0			0
Prepaid expenses	0			0
Total current assets	0			0
Property and equipment	0			0
Accumulated depreciation	0			0
Property and equipment, net	0			0
Operating lease right-of-use	0
Equity investments and advances				0
Investments in consolidated subsidiaries	(183,226)			(172,950)
Intangible assets	0			0
Deferred income taxes	(12,774)			(9,904)
Intercompany receivables	(294,452)			(366,541)
Other assets	0			0
Total assets	(490,452)			(549,395)
Current liabilities:
Accounts payable and accrued expenses	0			0
Accrued wages and benefits	0			0
Accrued interest	0			0
Accrued income taxes	0			0
Accrued other taxes	0			0
Accrued contingencies	0			0
Current portion of long-term debt	0			0
Other current liabilities	0			0
Total current liabilities	0			0
Long-term debt	0			0
Deferred income taxes	(12,774)			(9,903)
Intercompany payables	(294,474)			(366,574)
Operating lease liabilities	0
Other liabilities	0			0
Total liabilities	(307,248)			(376,477)
Redeemable noncontrolling interest	0			0
Equity:
Common stock, $0.01 par value, 60,000,000 shares authorized; 21,288,619 and 21,765,404 outstanding in 2019 and 2018, respectively, exclusive of treasury shares	0			0
Additional paid-in capital	(104,869)			(104,869)
Retained earnings	(78,335)			(68,049)
Treasury shares, at cost; 1,149,820 and 156,737 shares in 2019 and 2018, respectively	0			0
Accumulated other comprehensive income, net of tax				0
Total equity	(183,204)			(172,918)
Total liabilities, redeemable noncontrolling interest and stockholders’ equity	$ (490,452)			$ (549,395)
[1]	Refer to footnote 5 for more detail on variable interest entities (“VIE”)

GUARANTORS OF SECURITIES (Con_2

GUARANTORS OF SECURITIES (Condensed Income Statement) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Condensed Income Statements, Captions [Line Items]
Revenues	$ 58,909	$ 54,610	$ 165,682	$ 169,660
Costs and expenses:
Operating	39,522	36,513	115,038	114,505
Administrative and general	9,142	8,837	26,912	35,714
Depreciation	9,312	9,541	28,282	30,011
Total costs and expenses	57,976	54,891	170,232	180,230
Gains (losses) on asset dispositions, net	754	(148)	562	2,269
Litigation settlement proceeds	0	42,000	0	42,000
Operating income (loss)	1,687	41,571	(3,988)	33,699
Other income (expense):
Interest income	956	732	2,642	1,224
Interest expense	(3,464)	(3,549)	(10,357)	(11,646)
Loss on sale of investments	0	0	(569)	0
Foreign currency losses, net	(718)	(94)	(574)	(1,095)
Gains (losses) on debt extinguishment	0	0	(13)	175
Other, net	(5)	15	(25)	21
Total other income (expense)	(3,231)	(2,896)	(8,896)	(11,321)
Income (loss) before income taxes and equity earnings	(1,544)	38,675	(12,884)	22,378
Income tax (benefit) expense	515	7,861	321	4,549
Income (loss) before equity earnings	(2,059)	30,814	(13,205)	17,829
Equity in earnings (losses) of subsidiaries	0	465	9,935	1,577
Net income (loss)	(2,059)	31,279	(3,270)	19,406
Net loss attributable to noncontrolling interest in subsidiary	149	10	357	310
Net income (loss) attributable to Era Group Inc.	(1,910)	31,289	(2,913)	19,716
Reportable Legal Entities | Parent
Condensed Income Statements, Captions [Line Items]
Revenues	0	0	0	0
Costs and expenses:
Operating	0	0	0	0
Administrative and general	1,025	901	4,009	14,087
Depreciation	0	0	0	0
Total costs and expenses	1,025	901	4,009	14,087
Gains (losses) on asset dispositions, net	0	0	0	0
Litigation settlement proceeds		42,000		42,000
Operating income (loss)	(1,025)	41,099	(4,009)	27,913
Other income (expense):
Interest income	492	171	1,135	180
Interest expense	(3,263)	(3,330)	(9,721)	(10,925)
Loss on sale of investments			(569)
Foreign currency losses, net	(81)	(10)	(93)	(66)
Gains (losses) on debt extinguishment			(13)	0
Other, net	(4)	0	(20)	0
Total other income (expense)	(2,856)	(3,169)	(9,281)	(10,811)
Income (loss) before income taxes and equity earnings	(3,881)	37,930	(13,290)	17,102
Income tax (benefit) expense	(432)	3,928	(114)	1,075
Income (loss) before equity earnings	(3,449)	34,002	(13,176)	16,027
Equity in earnings (losses) of subsidiaries	1,541	(2,747)	10,275	3,655
Net income (loss)	(1,908)	31,255	(2,901)	19,682
Net loss attributable to noncontrolling interest in subsidiary	0	0	0	0
Net income (loss) attributable to Era Group Inc.	(1,908)	31,255	(2,901)	19,682
Reportable Legal Entities | Guarantors
Condensed Income Statements, Captions [Line Items]
Revenues	53,633	48,631	148,992	148,512
Costs and expenses:
Operating	32,926	29,888	94,977	92,317
Administrative and general	7,177	6,957	20,135	18,182
Depreciation	9,100	9,316	27,572	29,283
Total costs and expenses	49,203	46,161	142,684	139,782
Gains (losses) on asset dispositions, net	754	(148)	562	2,269
Litigation settlement proceeds		0		0
Operating income (loss)	5,184	2,322	6,870	10,999
Other income (expense):
Interest income	444	448	1,423	878
Interest expense	(193)	(204)	(614)	(595)
Loss on sale of investments			0
Foreign currency losses, net	(104)	(16)	15	(141)
Gains (losses) on debt extinguishment			0	0
Other, net	5	21	16	31
Total other income (expense)	152	249	840	173
Income (loss) before income taxes and equity earnings	5,336	2,571	7,710	11,172
Income tax (benefit) expense	947	3,933	435	3,474
Income (loss) before equity earnings	4,389	(1,362)	7,275	7,698
Equity in earnings (losses) of subsidiaries	0	465	9,935	1,577
Net income (loss)	4,389	(897)	17,210	9,275
Net loss attributable to noncontrolling interest in subsidiary	0	0	0	0
Net income (loss) attributable to Era Group Inc.	4,389	(897)	17,210	9,275
Reportable Legal Entities | Non-guarantors
Condensed Income Statements, Captions [Line Items]
Revenues	14,681	13,623	42,835	42,252
Costs and expenses:
Operating	16,001	14,302	46,195	43,325
Administrative and general	940	979	2,768	3,445
Depreciation	212	225	710	728
Total costs and expenses	17,153	15,506	49,673	47,498
Gains (losses) on asset dispositions, net	0	0	0	0
Litigation settlement proceeds		0		0
Operating income (loss)	(2,472)	(1,883)	(6,838)	(5,246)
Other income (expense):
Interest income	20	113	84	166
Interest expense	(8)	(15)	(22)	(126)
Loss on sale of investments			0
Foreign currency losses, net	(533)	(68)	(496)	(888)
Gains (losses) on debt extinguishment			0	175
Other, net	(6)	(6)	(21)	(10)
Total other income (expense)	(527)	24	(455)	(683)
Income (loss) before income taxes and equity earnings	(2,999)	(1,859)	(7,293)	(5,929)
Income tax (benefit) expense	0	0	0	0
Income (loss) before equity earnings	(2,999)	(1,859)	(7,293)	(5,929)
Equity in earnings (losses) of subsidiaries	0	0	0	0
Net income (loss)	(2,999)	(1,859)	(7,293)	(5,929)
Net loss attributable to noncontrolling interest in subsidiary	149	10	357	310
Net income (loss) attributable to Era Group Inc.	(2,850)	(1,849)	(6,936)	(5,619)
Eliminations
Condensed Income Statements, Captions [Line Items]
Revenues	(9,405)	(7,644)	(26,145)	(21,104)
Costs and expenses:
Operating	(9,405)	(7,677)	(26,134)	(21,137)
Administrative and general	0	0	0	0
Depreciation	0	0	0	0
Total costs and expenses	(9,405)	(7,677)	(26,134)	(21,137)
Gains (losses) on asset dispositions, net	0	0	0	0
Litigation settlement proceeds		0		0
Operating income (loss)	0	33	(11)	33
Other income (expense):
Interest income	0	0	0	0
Interest expense	0	0	0	0
Loss on sale of investments			0
Foreign currency losses, net	0	0	0	0
Gains (losses) on debt extinguishment			0	0
Other, net	0	0	0	0
Total other income (expense)	0	0	0	0
Income (loss) before income taxes and equity earnings	0	33	(11)	33
Income tax (benefit) expense	0	0	0	0
Income (loss) before equity earnings	0	33	(11)	33
Equity in earnings (losses) of subsidiaries	(1,541)	2,747	(10,275)	(3,655)
Net income (loss)	(1,541)	2,780	(10,286)	(3,622)
Net loss attributable to noncontrolling interest in subsidiary	0	0	0	0
Net income (loss) attributable to Era Group Inc.	$ (1,541)	$ 2,780	$ (10,286)	$ (3,622)

GUARANTORS OF SECURITIES (Con_3

GUARANTORS OF SECURITIES (Condensed Statement of Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Condensed Statement of Income Captions [Line Items]
Net income (loss)	$ (2,059)	$ 31,279	$ (3,270)	$ 19,406
Other comprehensive loss:
Foreign currency translation adjustments, net	0	0	(110)	(5)
Total other comprehensive loss	0	0	(110)	(5)
Comprehensive income (loss)	(2,059)	31,279	(3,380)	19,401
Comprehensive income (loss) attributable to non-controlling interest in subsidiary	149	10	357	310
Comprehensive income (loss) attributable to Era Group Inc.	(1,910)	31,289	(3,023)	19,711
Reportable Legal Entities | Parent
Condensed Statement of Income Captions [Line Items]
Net income (loss)	(1,908)	31,255	(2,901)	19,682
Other comprehensive loss:
Foreign currency translation adjustments, net			0	0
Total other comprehensive loss			0	0
Comprehensive income (loss)	(1,908)	31,255	(2,901)	19,682
Comprehensive income (loss) attributable to non-controlling interest in subsidiary	0	0	0	0
Comprehensive income (loss) attributable to Era Group Inc.	(1,908)	31,255	(2,901)	19,682
Reportable Legal Entities | Guarantors
Condensed Statement of Income Captions [Line Items]
Net income (loss)	4,389	(897)	17,210	9,275
Other comprehensive loss:
Foreign currency translation adjustments, net				(5)
Total other comprehensive loss			(110)	(5)
Comprehensive income (loss)	4,389	(897)	17,100	9,270
Comprehensive income (loss) attributable to non-controlling interest in subsidiary	0	0	0	0
Comprehensive income (loss) attributable to Era Group Inc.	4,389	(897)	17,100	9,270
Reportable Legal Entities | Non-guarantors
Condensed Statement of Income Captions [Line Items]
Net income (loss)	(2,999)	(1,859)	(7,293)	(5,929)
Other comprehensive loss:
Foreign currency translation adjustments, net			0	0
Total other comprehensive loss			0	0
Comprehensive income (loss)	(2,999)	(1,859)	(7,293)	(5,929)
Comprehensive income (loss) attributable to non-controlling interest in subsidiary	149	10	357	310
Comprehensive income (loss) attributable to Era Group Inc.	(2,850)	(1,849)	(6,936)	(5,619)
Eliminations
Condensed Statement of Income Captions [Line Items]
Net income (loss)	(1,541)	2,780	(10,286)	(3,622)
Other comprehensive loss:
Foreign currency translation adjustments, net			0	0
Total other comprehensive loss			0	0
Comprehensive income (loss)	(1,541)	2,780	(10,286)	(3,622)
Comprehensive income (loss) attributable to non-controlling interest in subsidiary	0	0	0	0
Comprehensive income (loss) attributable to Era Group Inc.	$ (1,541)	$ 2,780	$ (10,286)	$ (3,622)

GUARANTORS OF SECURITIES (Con_4

GUARANTORS OF SECURITIES (Condensed Cash Flow Statement) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2019	Sep. 30, 2018
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities			$ 19,845	$ 50,352
Cash flows from investing activities:
Purchases of property and equipment			(5,168)	(7,686)
Proceeds from disposition of property and equipment			9,252	29,520
Dividends received from equity investees			0	1,000
Purchase of investments		$ (5,000)	(5,000)	0
Proceeds from sale of investments	$ 4,400		4,430	0
Proceeds from sale of equity investees, net			34,712	0
Principal payments on notes due from equity investees			2,334	401
Principal payments on third party notes receivable			5,340	620
Net cash provided by investing activities			45,900	23,855
Cash flows from financing activities:
Long-term debt issuance costs			0	(1,295)
Payments on long-term debt			(1,458)	(42,562)
Extinguishment of long-term debt			(740)	0
Proceeds from share award plans			1,077	893
Purchase of treasury shares			(7,676)	0
Borrowings and repayments of intercompany debt			0	0
Net cash used in financing activities			(8,797)	(42,964)
Effects of exchange rate changes on cash and cash equivalents			35	(445)
Net increase in cash, cash equivalents and restricted cash			56,983	30,798
Cash, cash equivalents and restricted cash, beginning of period		50,753	50,753	16,833
Cash, cash equivalents and restricted cash, end of period			107,736	47,631
Reportable Legal Entities | Parent
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities			66,231	35,550
Cash flows from investing activities:
Purchases of property and equipment			0	0
Proceeds from disposition of property and equipment			0	0
Dividends received from equity investees				0
Purchase of investments			(5,000)
Proceeds from sale of investments			4,430
Proceeds from sale of equity investees, net			0
Principal payments on notes due from equity investees			0	0
Principal payments on third party notes receivable			0	0
Net cash provided by investing activities			(570)	0
Cash flows from financing activities:
Long-term debt issuance costs				0
Payments on long-term debt			0	0
Extinguishment of long-term debt			(740)
Proceeds from share award plans			0	0
Purchase of treasury shares			(7,676)
Borrowings and repayments of intercompany debt			0	0
Net cash used in financing activities			(8,416)	0
Effects of exchange rate changes on cash and cash equivalents			0	0
Net increase in cash, cash equivalents and restricted cash			57,245	35,550
Cash, cash equivalents and restricted cash, beginning of period		48,396	48,396	10,800
Cash, cash equivalents and restricted cash, end of period			105,641	46,350
Reportable Legal Entities | Guarantors
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities			(46,413)	13,319
Cash flows from investing activities:
Purchases of property and equipment			(5,056)	(7,461)
Proceeds from disposition of property and equipment			9,252	29,520
Dividends received from equity investees				1,000
Purchase of investments			0
Proceeds from sale of investments			0
Proceeds from sale of equity investees, net			34,712
Principal payments on notes due from equity investees			2,334	401
Principal payments on third party notes receivable			5,340	620
Net cash provided by investing activities			46,582	24,080
Cash flows from financing activities:
Long-term debt issuance costs				0
Payments on long-term debt			(1,246)	(1,247)
Extinguishment of long-term debt			0
Proceeds from share award plans			0	0
Purchase of treasury shares			0
Borrowings and repayments of intercompany debt			1,077	(39,402)
Net cash used in financing activities			(169)	(40,649)
Effects of exchange rate changes on cash and cash equivalents			0	0
Net increase in cash, cash equivalents and restricted cash			0	(3,250)
Cash, cash equivalents and restricted cash, beginning of period		0	0	3,250
Cash, cash equivalents and restricted cash, end of period			0	0
Reportable Legal Entities | Non-guarantors
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities			27	1,483
Cash flows from investing activities:
Purchases of property and equipment			(112)	(225)
Proceeds from disposition of property and equipment			0	0
Dividends received from equity investees				0
Purchase of investments			0
Proceeds from sale of investments			0
Proceeds from sale of equity investees, net			0
Principal payments on notes due from equity investees			0	0
Principal payments on third party notes receivable			0	0
Net cash provided by investing activities			(112)	(225)
Cash flows from financing activities:
Long-term debt issuance costs				0
Payments on long-term debt			(212)	(2,315)
Extinguishment of long-term debt			0
Proceeds from share award plans			0	0
Purchase of treasury shares			0
Borrowings and repayments of intercompany debt			0	0
Net cash used in financing activities			(212)	(2,315)
Effects of exchange rate changes on cash and cash equivalents			35	(445)
Net increase in cash, cash equivalents and restricted cash			(262)	(1,502)
Cash, cash equivalents and restricted cash, beginning of period		2,357	2,357	2,783
Cash, cash equivalents and restricted cash, end of period			2,095	1,281
Eliminations
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities			0	0
Cash flows from investing activities:
Purchases of property and equipment			0	0
Proceeds from disposition of property and equipment			0	0
Dividends received from equity investees				0
Purchase of investments			0
Proceeds from sale of investments			0
Proceeds from sale of equity investees, net			0
Principal payments on notes due from equity investees			0	0
Principal payments on third party notes receivable			0	0
Net cash provided by investing activities			0	0
Cash flows from financing activities:
Long-term debt issuance costs				(1,295)
Payments on long-term debt			0	(39,000)
Extinguishment of long-term debt			0
Proceeds from share award plans			1,077	893
Purchase of treasury shares			0
Borrowings and repayments of intercompany debt			(1,077)	39,402
Net cash used in financing activities			0	0
Effects of exchange rate changes on cash and cash equivalents			0	0
Net increase in cash, cash equivalents and restricted cash			0	0
Cash, cash equivalents and restricted cash, beginning of period		$ 0	0	0
Cash, cash equivalents and restricted cash, end of period			$ 0	$ 0