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CHC Helicopter Launches Super Medium Aircraft Program with Support from Milestone Aviation

Date: 
Monday, July 31, 2017
Blurb: 
Today, CHC Helicopter launches its super medium aircraft program with a commitment to lease five new aircraft from GECAS’ Milestone Aviation Group Limited (“Milestone”).

 

Today, CHC Helicopter launches its super medium aircraft program with a commitment to lease five new aircraft from GECAS’ Milestone Aviation Group Limited ("Milestone"). This transaction will add three new Leonardo AW189s and two Airbus H175s from Milestone’s order book with the manufacturers to CHC’s global fleet. The new aircraft will be configured for energy transport missions and will serve CHC customers in the North Sea and Australia.

"We are working closely with Milestone to carefully build a productive, safe and reliable fleet to meet the varying needs of our customers throughout the world," said Karl Fessenden, President and CEO of CHC Helicopter. "Milestone has been a valuable leasing partner towards this goal, with a diverse order book across manufacturers and types, and deep expertise in aircraft operational capabilities."

Fessenden added "Since completing our restructuring in March, our fleet productivity has significantly improved and matches our historical peak levels before the oil and gas downturn. We are excited to add these new super medium aircraft to our fleet in support of new customer contracts."

"We are very proud to introduce the Leonardo AW189 and Airbus H175 types to CHC’s fleet," remarked Daniel Rosenthal, President and CEO of Milestone, adding "We have worked very closely with CHC since their restructuring to review their fleet needs and provide both the aircraft and capital solutions, through operating lease and debt financing, that meet those needs. We are delighted to deliver these new technology assets that fit their mission profile with improved economics for their end customers."

Both the Leonardo AW189 and the Airbus H175 are designed to meet long-range, high endurance requirements in demanding environments, which will allow CHC to use them for missions that have either been traditionally limited to heavy aircraft or access platforms that are not designed to support them. This will not only give customers additional flexibility, but also help them lower their overall costs per passenger.

About CHC
For 70 years, CHC Helicopter has provided safe, reliable, cost-effective helicopter service in some of the most remote and challenging environments around the world. With extensive experience transporting customers in the oil and gas industry, supporting search-and-rescue and EMS contracts, and providing maintenance, repair and overhaul services, our dedication to safety and reputation for quality and innovation help our customers reach beyond what they thought possible. Visit www.chcheli.com for information.

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 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. www.milestoneaviation.com

Contact Information

CHC:
Susan Gordon  
Senior Director, Global Communications
+1.214.262.7426
Communications@chcheli.com

Milestone/GECAS:
James Luton
GECAS Global Communications Leader
+1.203.842.5887
james.luton@gecas.com

Cautionary Note on Forward-Looking Statements
This press release and other statements that we may make contain forward-looking statements. Forward-looking statements are statements that are not historical facts and include statements about our future financial condition and future business plans and expectations. Such forward-looking statements are based upon the current beliefs and expectations of our management, but are subject to risks and uncertainties, which could cause actual results and/or the timing of events to differ materially from those set forth in the forward-looking statements. The forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated.