INVESTMENT IN VARIABLE INTEREST ENTITY	9 Months Ended
Sep. 30, 2013
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INVESTMENT IN VARIABLE INTEREST ENTITY	11. INVESTMENT IN VARIABLE INTEREST ENTITY A variable interest entity is an entity that either (a) has insufficient equity to permit the entity to finance its operations without additional subordinated financial support or (b) has equity investors who lack the characteristics of a controlling financial interest. As of September 30, 2013, we had a 49% investment in the common stock of PHI Century Limited (“PHIC”), a Ghanaian entity. We acquired our 49% interest on May 26, 2011, PHIC’s date of incorporation. The purpose of PHIC is to provide oil and gas flight services in Ghana and the West African region. For the nine months ended September 30, 2013, we recorded a loss in equity of unconsolidated affiliate of $0.9 million relative to our 49% equity ownership. In addition, we had $5.6 million of Trade receivables and a $1.0 million note receivable outstanding as of September 30, 2013 from PHIC. The note receivable is included in Other assets on our Condensed Consolidated Balance Sheet. Our investment in the common stock of PHIC is included in Other assets on our Condensed Consolidated Balance Sheet and was $(1.7) million at September 30, 2013. Included in Operating revenues for nine months ended September 30, 2013 is $2.0 million of revenues from services provided to PHIC.

11. INVESTMENT IN VARIABLE INTEREST ENTITY

A variable interest entity is an entity that either (a) has insufficient equity to permit the entity to finance its operations without additional subordinated financial support or (b) has equity investors who lack the characteristics of a controlling financial interest. As of September 30, 2013, we had a 49% investment in the common stock of PHI Century Limited (“PHIC”), a Ghanaian entity. We acquired our 49% interest on May 26, 2011, PHIC’s date of incorporation. The purpose of PHIC is to provide oil and gas flight services in Ghana and the West African region. For the nine months ended September 30, 2013, we recorded a loss in equity of unconsolidated affiliate of $0.9 million relative to our 49% equity ownership. In addition, we had $5.6 million of Trade receivables and a $1.0 million note receivable outstanding as of September 30, 2013 from PHIC. The note receivable is included in Other assets on our Condensed Consolidated Balance Sheet. Our investment in the common stock of PHIC is included in Other assets on our Condensed Consolidated Balance Sheet and was $(1.7) million at September 30, 2013. Included in Operating revenues for nine months ended September 30, 2013 is $2.0 million of revenues from services provided to PHIC.