SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of
1934
Date of Report (Date of earliest event reported) July 28, 1995
______________
PETROLEUM HELICOPTERS, INC.
(Exact name of registrant as specified in its charter)
Louisiana 0-9827 72-0395707
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
5728 Jefferson Highway, P.O. Box 23502, New Orleans, Louisiana 70123
___________________________________________________________________________
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (504) 733-6790
_______________
<PAGE>
Item 5. Other Events.
On July 28, 1995, Petroleum Helicopters, Inc. issued the
following press release:
NEWS -- For Immediate Release FROM:Petroleum Helicopters, Inc.
5728 Jefferson Highway
P.O. Box 23502
New Orleans, LA 70183
Phone: 318/272-4427
NEW ORLEANS, LA, July 28, 1995 --- Petroleum Helicopters, Inc.
(PHI) of Lafayette, Louisiana, in conjunction with Bristow
Helicopters Limited (Bristow) of Redhill, England, have completed
the acquisition of Irish Helicopters Limited (Irish Helicopters)
of Dublin, Ireland, from the Aer Lingus Group. The transaction
for all the outstanding stock of Irish Helicopters is valued at
4.9 million Irish Punts (approximately 8 million US Dollars).
Following completion, Bristow will own 51% of the shares and PHI
will own 49%.
Irish Helicopters provides search and rescue, offshore oil
support, and other services to public and private sector
organizations within Ireland.
PHI and Bristow are pre-eminent operators in the world helicopter
market. Both provide a variety of aviation services. PHI,
founded in 1949 in Louisiana, operates a fleet of 260 aircraft
serving the U.S. oil and gas industry, the aeromedical industry,
the global oil and gas industry and government agencies. Bristow
commenced operations in 1953 and operates a fleet of over 200
helicopters worldwide. Its clients also include the major oil
and gas companies, public and private sector organizations and
government agencies.
Carroll W. Suggs, Chairman and CEO of PHI, and Bryan Collins,
Managing Director and Chief Executive of the Bristow Helicopter
Group, stated "Bristow and PHI regard their acquisition as
important in that it will provide exciting opportunities for
Irish Helicopters to expand its operations and will additionally
create a new level of cooperation between the new owners."
Mr. Ray Kenny, Chief Executive of Irish Helicopters, stated "The
company stands to benefit greatly from the resources, expertise,
and strategic direction of the new owners. Being part of a
larger group will strengthen the standing of the company both
domestically and internationally."
Bristow Helicopters Limited and Irish Helicopters Limited are
private companies. PHI is a public company traded on NASDAQ
under the symbols PHEL and PHELK.
For additional information, please contact John H. Untereker,
Vice President and Chief Financial Officer of Petroleum
Helicopters, Inc. at (318) 272-4427.
__________________________
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
PETROLEUM HELICOPTERS, INC.
Date: July 31, 1995 By: /s/ John H. Untereker
_________________________
John H. Untereker
Vice President and
Chief Financial Officer
