RELATED PARTY TRANSACTIONS |
12 Months Ended |
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Dec. 31, 2018 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS |
RELATED PARTY TRANSACTIONS
Mr. Fabrikant, Chairman of the Board and Director of the Company, is also the Executive Chairman and Chief Executive Officer of SEACOR Holdings Inc. (“SEACOR”). The Company leases office space from SEACOR. For each of the years ended December 31, 2018, 2017 and 2016, the Company paid $0.4 million to SEACOR for rent and utilities, which are included in administrative and general expenses on the consolidated statements of operations.
During the years ended December 31, 2018, 2017 and 2016, the Company purchased products and services from Dart totaling $2.0 million, $2.0 million and $1.9 million, respectively, and had a note receivable from Dart with a balance of $2.3 million and $2.8 million at December 31, 2018 and 2017, respectively. Purchases from Dart are included in operating expenses on the consolidated statements of income, and the note receivable is included in equity investments and advances on the consolidated balance sheets.
During the years ended December 31, 2018, 2017 and 2016, the Company provided helicopter, management and other services to Era Training Center totaling $0.1 million, $0.2 million and $0.2 million, respectively, and incurred $0.2 million, $0.5 million and $0.6 million, respectively, for flight training device fees. Revenues from Era Training Center were recorded in operating revenues, and expenses incurred are recorded in operating expenses on the consolidated statements of operations. At December 31, 2017, the Company had a note receivable from Era Training Center with a balance of $3.7 million, which was recorded in equity investments and advances on the consolidated balance sheets. During the year ended December 31, 2018, the Company entered into an agreement to dissolve Era Training Center. See further discussion in Note 5.
In June 2016, the Company and its partner in Aeróleo each contributed notes payable to them by Aeróleo as a contribution of additional capital into Aeróleo. See further discussion in Note 7.
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