Irish Group and CHC Strike $80 Million Deal

 - November 1, 2011, 9:00 AM

Dublin, Ireland-based Milestone Aviation Group and CHC Helicopter have agreed on the sale-leaseback of five medium twins–two Sikorsky S-92s and three Eurocopter AS332L2 Super Pumas.

The first part of the transaction, which is valued at more than $50 million, has closed; another $30 million transaction is expected to close this month. The aircraft are currently flying in support of offshore oil and gas operations in Denmark, the UK and the Falklands. Milestone claims to have signed commitments that will push its leasing portfolio to more than $300 million by the end of the year.