Original Message

Margins depend on which segment of the industry you operate in.  In those operations where there is price competition, margins are signficantly lower than in air ambulance operations.  According to Air Methods' 2016 corporate presentation, EBITDA margin for the previous year air ambulance segment was 32.6%.  Tourism EBITDA margin was 18.1%.  This is the latest publicly available information, since the company is now owned by PE.