As the largest owner of the S-92A globally, the purchase illustrates Milestone’s ongoing commitment to the type, which is the primary aircraft servicing the offshore oil and gas industry as well as serving search & rescue and executive transport.
Referring to the recent acquisition, Pat Sheedy, Managing Director of Portfolio and Underwriting at Milestone, stated that “The S-92A is the cornerstone of our Oil and Gas portfolio and, given the size and scale of our fleet, we believe we are uniquely positioned to manage these assets and provide optimal fleet & support solutions for our customers and the overall industry. We continue to look to expand our S-92A portfolio where we see attractive opportunities in the secondary market.”
“Safest helicopter in the world”
Milestone’s owned and debt-financed fleet of S-92A helicopters accounts for more than thirty percent of all S-92A aircraft in operation globally. Having been referred to by the FAA certification board as the “safest helicopter in the world”, and operating more than 1.5 million fleet flight hours, the twin-engine medium-lift helicopter offers strong economics, reliability, capacity and safety required for a range of operators’ missions.
About Milestone: 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 $5 billion plus a loan portfolio and debt commitments of approximately $400 million. 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 48 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 GECAS: GE Capital Aviation Services (GECAS) is a world-leading aviation lessor and financier. For over five decades, we have solved our customers’ challenges and helped their businesses to thrive. Whether your need is for narrow- or widebody aircraft, regional jets, turboprops, freighters, engines, helicopters, financing or materials, our name has become synonymous with trusted relationships, domain expertise and delivering on our promises.
GECAS offers a broad array of financing products and services on these assets including operating leases, purchase/leasebacks, secured debt financing, asset sales and servicing, and airframe parts management. GECAS owns, services or has on order more than 1,850 (~1,500 fixed wing/ ~350 rotary wing), plus provides loans collateralized on an additional ~320 aircraft.
GECAS serves ~250 customers in over 75 countries from a network of 21 offices around the world