EX-99.3

Exhibit 99.3

PHI, Inc. Announces Confirmation of Plan to Address Outstanding Debt,

Strengthen Its Balance Sheet, and Position the Company for Long-Term Success

PHI and Principal U.S. Entities Expect to Complete Voluntary Chapter 11 Debt Restructuring

by the end of August

LAFAYETTE, LOUISIANA, July 31, 2019 – PHI, Inc. (OTC: PHIIQ (voting) PHIKQ (non-voting)) (“PHI” or the “Company”) today announced that the United States Bankruptcy Court for the Northern District of Texas has confirmed the amended Plan of Reorganization of PHI and its principal U.S. entities (the “Debtors”) and indicated that it will issue a written order to this effect, representing the last major milestone in the Company’s restructuring process. PHI expects to consummate the Plan and successfully emerge from Chapter 11 by the end of August with a sustainable debt structure that positions the Company for long-term success.

“The Court has now confirmed our Plan, clearing a path for us to emerge with balance sheet strength that matches our industry leading positions,” PHI Chief Operating Officer and President Lance Bospflug said. “Our management team has always been confident that PHI would complete this process as a stronger company, employer and business partner, and we have achieved each of these goals with our confirmed Plan. We have a strong, committed culture and now the positive momentum we need for this talented team to even better serve our customers and other stakeholders, when we emerge from this process.”

Upon emergence, PHI’s unsecured creditors will own 100% of the Company’s equity, subject to the issuance of warrants to current equity holders and future dilution. PHI also expects to gain access to $225 million of new five-year term loan financing aligned with its current business plan and to receive an infusion of new equity financing from certain of its current unsecured creditors. Upon the effective date, Al Gonsoulin will retire as the Chief Executive Officer and Chairman of the Board of PHI. Upon the effective date, Lance Bospflug will become PHI’s Chief Executive Officer and will be named to the Company’s new Board of Directors.

The consummation of the Plan will be subject to the satisfaction or waiver of several conditions, including completion of the above-described debt and equity financings, the payment in full of all debt owed to Thirty-Two, LLC and Blue Torch Capital, and the finalization of various documents.

Additional information on the Debtors’ Plan and their anticipated emergence from the Chapter 11 process can be found at the Company’s dedicated microsite at https://restructuring.phihelico.com. Bankruptcy Court filings are available at https://cases.primeclerk.com/PHI.

ABOUT PHI, INC.

PHI, Inc. is one of the world’s leading helicopter services companies, operating over 240 aircraft in over 70 locations around the world. Known industry wide for the relentless pursuit of safe, reliable helicopter transportation, PHI offers services to the offshore Oil and Gas, Air Medical applications, and Technical Services applications around the world. The highly trained pilots, maintenance technicians, clinicians and diverse professional talent across the organization gives the company a great depth in all areas of operation and is composed of highly skilled, dedicated, and loyal employees. In addition to operations in the United States, the company has operated in 43 foreign countries and continues to operate for customers across the globe. PHI’s Headquarters are in Lafayette, Louisiana USA and PHI employs approximately 2,200 personnel globally.

Forward-Looking Statements

This release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release are “forward-looking” statements, as defined by (and subject to the “safe harbor” protections under) the federal securities laws. When used herein, the words “anticipates,” “expects,” “believes,” “seeks,”