Babcock and Milestone Celebrates Partnership
Milestone Aviation and Babcock Mission Critical Services celebrated their lease partnership sixth anniversary which currently involves more than 50 helicopters. Latest addition are three H175
Milestone Aviation, September 28, 2017 - Dublin, Ireland – Milestone Aviation Group Limited and Babcock Mission Critical Services Ltd. announce the sixth anniversary of their lease partnership.
Milestone, the global leader in helicopter leasing, has served Babcock (and its predecessor companies) since 2011, first providing for the purchase/lease-back of three light-twin emergency medical service helicopters operated in Spain and Portugal.
Today, Milestone leases more than 50 helicopters into Babcock’s fleet ranging from light twins to heavies. Over half the helicopters operate in emergency medical services, police surveillance, and search and rescue missions. Most recently, Milestone introduced the H175 helicopter to Babcock’s fleet – the operator’s first super-medium aircraft – with the delivery of three aircraft from the lessor’s order book with Airbus. Milestone expects to deliver two additional H175s to Babcock before the end of the year.
“We are extremely proud to have expanded our partnership with Babcock over the past six years,” said Milestone President and CEO, Daniel Rosenthal. “The leases signed with Babcock reflect our customer focus, unparalleled suite of service offerings and long-term approach to developing business partnerships. Babcock has generated strong growth with their focus on mission-critical operations and government support services. We look forward to growing our relationship with Babcock and supporting them for years to come.”
“We are delighted to continue building on our long-term relationship with Milestone,” said Andrea Cicero, Managing Director, Babcock Mission Critical Services. “Milestone’s financial strength and stability as part of GE coupled with their market knowledge and diverse fleet makes them a perfect leasing partner. We appreciate their ability to think long-term and simultaneously move quickly to execute on tight timeframes. The partnership with Milestone allows us to better serve our customers and deliver value to our shareholders as the market continues to evolve.”
The Babcock-Milestone partnership is broad and diverse. Milestone has provided aircraft and operating lease financing on Babcock helicopters serving EMS, SAR, O&G and police surveillance missions utilising modern light-twin helicopters, mediums, super-mediums and heavy aircraft.
About Milestone Aviation Group: Milestone Aviation Group, a GE Capital Aviation Services company, is the world’s leading helicopter leasing and financing company. Milestone has a fleet of helicopters worth over US $4.0 billion plus a loan portfolio and debt commitments of approximately $400 million. The company has a forward order book of firm and option aircraft with an estimated aggregate purchase price in excess of US $3 billion. Milestone partners with helicopter operators worldwide, providing a wide array of financial and productivity solutions, including operating leases, purchase/leasebacks, secured debt financing, engine leasing and fleet advisory. The company supports over 35 customers in more than 30 countries serving a variety of industries, including offshore oil and gas, search and rescue, emergency medical services, police surveillance, mining and other utility missions.
About GE Capital Aviation Services (GECAS): GECAS is a world leader in aviation leasing and financing. With 50 years of aviation finance experience, GECAS offers a wide range of aircraft types including narrow-bodies, wide-bodies, regional jets, turboprops, freighters and helicopters, plus multiple financing products and services including operating leases, purchase/leasebacks, secured debt financing, capital markets, engine leasing, airframe parts management and airport/airline consulting. GECAS owns or services a fleet of over 1,950 aircraft (1,660 fixed wing / 306 rotary wing) in operation or on order, plus provides loans collateralized on an additional ~400 aircraft. GECAS serves more than 250 customers in over 75 countries from a network of 26 offices.
GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the “GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry.
About Babcock: For more than a century, Babcock has been trusted to deliver bespoke, highly-skilled engineering services. We help customers in the UK and around the world to improve the capability, reliability and availability of their most critical assets within the four market sectors of Marine, Land, Aviation, and Nuclear, underpinned by a deep understanding of technology integration, unique infrastructure, and specialist training.
Mission Critical Services, which sits within Babcock’s Aviation sector, is one of the world’s leading providers of aerial services for mission-critical operations. Babcock’s fleet of Emergency Service aircraft, operated by highly experienced crews and supported by skilled staff, executes around 90,000 missions each year, providing critical air ambulance, search and rescue, firefighting, police and civil protection services. Babcock also operates helicopters serving the oil and gas sector.