Milestone Aviation Group Surpasses US$ 2.2 Bn in Helicopters
Milestone Aviation Group, the global leader in helicopter leasing, today provided an operating update to the market in advance of Helicopter Association International’s Heli-Expo which includes information as of December 31, 2013.
Milestone’s fleet, which ranges from light-single to heavy-twin helicopters, now includes 143 aircraft valued at more than US$ 2.2 billion. The aircraft are leased to helicopter operators providing mission-critical services to offshore oil and gas, emergency medical services, search and rescue and other utility missions. The fleet, which has an average age of less than three years, is comprised of aircraft from original equipment manufacturers (OEM’s) Sikorsky, Bell, Airbus Helicopters and AgustaWestland. The company has leases with 26 world-class operating partners working in over 20 countries on six continents.
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Additionally, Milestone has firm and option orders with AgustaWestland, Airbus Helicopters and Sikorsky for over 130 helicopters valued at over US$ 3.0 billion at list prices delivering over the next five years. Milestone’s order book allows them to provide increased value to their partners by offering near-term delivery positions of in-demand aircraft.
Milestone Chairman and CEO Richard Santulli said, “Our strong growth has continued through 2013 and into 2014, and we are excited about our company’s future. We are incredibly thankful for the support we have received from our partners in the operating community, the OEM’s, service providers and financial institutions and investors who have made our growth possible. I am particularly proud of our team’s performance in delivering value and service to our customers. We look forward to providing additional capital, helicopters and ancillary support services to high-quality helicopter operators around the world.”
The company executed ten new financing facilities totalling US$ 2.2 billion in 2013. These facilities tapped multiple markets, including bank lending, life insurance companies and the Export-Import Bank of the United States. Some highlights include the first Ex-Im backed bond for the helicopter market, a US$ 600 million secured revolver, a US$ 200 million unsecured revolver, a US$ 80 million PDP facility and a US$ 575 million private placement with an investment grade corporate rating from Kroll. Milestone now has more than 40 financing partners and ample resources to execute its business plan.
Source : Milestone Aviation Group - view original press release