PHI reports $719,989 of operating income for June; net revenue climbs

By Caroline Salls

Pittsburgh, July 24 – PHI, Inc. reported $719,989 of operating income for June on $25.83 million in net revenue, according to its monthly operating report filed Wednesday with the Securities and Exchange Commission.

In comparison, PHI posted a $20.19 million operating loss for May on $24.64 million in net revenue.

The company had $8.45 million in cash as of June 30, up from $2.72 million at the end of May.

PHI is a Lafayette, La.-based helicopter services company. The company filed bankruptcy on March 14 in the U.S. Bankruptcy Court for the Northern District of Texas under Chapter 11 case number 19-30923.

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