Trawled off the internet page:
PHi announces results for Q2 ended 30 June 2012 | Helihub - the Helicopter Industry Data Source
In April 2012, our subsidiary PHI Air Medical, L.L.C. entered into a three-year contract with the Saudi Red Crescent Authority (“SRCA”) to provide helicopter emergency medical services in the Kingdom of Saudi Arabia. The contract calls for us to place eight medium aircraft in service during 2012, along with support staff, and to operate and maintain the aircraft for the contract term. In connection with the contract, we have entered into an aircraft purchase agreement, pursuant to which we would purchase and then sell seven new aircraft to the company that will lease them to the SRCA, after we complete and configure the aircraft for use in emergency medical services. Funds for the purchase of the aircraft have been deposited into an escrow account by the company that will lease the aircraft to SRCA. The SRCA project is expected to commence flight operations in September 2012, with two aircraft in service at that time. For additional information, please see our Form 10Q for the quarter ended June 30, 2012.