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The Real PHI Info


The Real PHI Info  

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Author: PHI Guy   Date: 11/15/2020 2:07:44 PM  +8/-1  

Here's a quick breakdown of what's happening with each section of PHI. There will be a webcast on the 19th that may or may not confirm this. None of this is secret information. I made a lot of connections in my 30+ years at PHI that share information and I listen to what is said in group meetings.

Domestic oil and gas (PHI Americas) is actually doing relatively good. Cost cutting actions that have been taken are showing results. Oil and gas is a shadow of what it once was, but those days are gone. If PHI has to be a 45 helicopter operator to be profitable, then that's what PHI will be. 

AMG (PHI Health) took little or no action to cut costs and that lack of action is starting to be noticed by the money people. AMG management has long claimed to be making money, but the very weak internal accounting practices by the former owners is getting sorted out and the house of mirrors AMG business practices are being shattered. AMG leadership has claimed that they don't need any support from the Lafayette facility and were supposed to sever ties in October. AMG stopped paying for a number of services, but did not stop using them. The money people called AMG management out and told to get their house in order and do it NOW! Sounds like AMG management is in full panic mode and making knee jerk decisions that are going to end up costing them in the long run. I would be surprised if AMG is not sold off in the next few months. 

PHI International is pretty much not spoken about at many of the group meetings, other than to say they are making money. 

The PHI Lafayette Hangar and shops is a dying money pit that should have been dealt with years ago. The part 145  may very well lose Part 145 certification if drastic action is not taken soon. The fellow that was protecting the repair station from the money people is gone and things will have to change.   

 
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The Real PHI Info +8/-1 PHI Guy 11/15/2020 2:07:44 PM