HRT Sells Air Logistics Business

Brazil’s HRT Participacoes em Petroleo has agreed to sell its air logistics business, Air Amazonia, to US aircraft manufacturer and operator Erickson Air-Crane, for an expected $65m-$75m, it says. The value depends on the final details of a service contract. The oil and gas explorer will sell its 14-helicopter rotary-wing fleet to Erickson, which will for three years service HRT’s Solimoes Basin operations. HRT says selling the business will increase efficiency by letting it focus on exploration, among other benefits.