Three separate contracts executed by Sukhoi Civil Aircraft (SCAC) over the past two days at the Moscow Air Show (MAKS) have added as many as 31 aircraft to the manufacturer’s Superjet 100 backlog and expanded its coverage among leasing companies.
Helicopter leasing firm Milestone Aviation Group announced today that it has attracted new financing worth between $600- and $750 million to fund “growth initiatives and acquisitions.” Since its founding by Richard Santulli three years ago, Milestone has acquired more than 100 aircraft worth $1.5 billion, placed orders and taken options for more new aircraft worth $2.2 billion and closed leases with 22 operators in 20 countries. Most of Milestone’s clients service the growing offshore oil and gas sector. The new financing comes from a consortium of global financial institutions.
Milestone Aviation Group, the helicopter leasing firm headed by NetJets founder Richard Santulli, closed a new $300 million credit facility yesterday. The company will use these proceeds to acquire and lease helicopters–including Sikorsky S-92s, Eurocopter EC225s and AgustaWestland AW189s and AW139s–valued at $400 million to affiliates of Bristow Group. The credit facility is the largest ever for a helicopter lessor, the company said.
The Equipment Leasing & Financing Foundation has released the results of a survey of financing experts, “to reveal and analyze the collective thinking of business aircraft lenders, lessors and investors (financiers) about the future of their industry in 2013 through 2016.” In general, “Financiers think the worst effects of the recession and financial crisis in 2008 are behind them and that business is picking up.” The report concludes, “business aircraft will gain altitude in 2013 through 2016 and ultimately ascend to an active (if not robust) transactions market during th
Macquarie Group has launched a new helicopter leasing company, Macquarie Rotorcraft Leasing, headquartered in San Francisco. The new company is headed by CEO Jeffrey Pino, formerly president of Sikorsky Aircraft. James Clarke, most recently CFO at Air Lease, is COO of Macquarie Rotorcraft Leasing. The leadership team also includes chief marketing officer Steve Estill and chief technical officer Greg A’slinger, former owner of Uniflight. The new company specializes in supplying helicopters for oil and gas, medical transport, search-and-rescue and executive transport.
Fractional provider Avantair shut down today and furloughed employees as it “seeks alternative financing arrangements that it hopes will enable it to resume operations as quickly and efficiently as possible,” according to a June 26 8-K SEC filing.
Vector Financial Services Ireland announced at Heli-Expo ’13 availability of a fleet of customized Super Puma AS332Ls, including new leasing and hourly support options, aimed at utility operators in the European Union, UN and NATO countries.
“Our lease program gives customers the ability to operate a Super Puma AS332L helicopter…without the large capital investment associated with outright purchase of either a second-hand aircraft or the associated typical aircraft financial lease type obligations,” said Vector UK managing director Michael Tyrell.
Magellan Aviation Group, an integrated aftermarket aviation support services provider, has chosen Quantum Control software to manage its leasing, asset management and repair operations for its worldwide customer base of airlines, OEMs and MRO companies.
Milestone Aviation Group, the helicopter leasing firm headed by NetJets founder Richard Santulli, is raising $250 million to purchase aircraft and refinance previously purchased aircraft. It is doing this by offering senior unsecured notes that are due in 2017. Milestone, which provides 100-percent operating lease financing for helicopters, has leased more than 60 aircraft worth more than $850 million since its launch in August 2010.
According to figures released today by business aviation data company Amstat, the long hoped-for “broad based business aircraft resale market recovery still remains elusive.” While inventories of pre-owned business aircraft continued to contract and transaction activity continues to increase on a year-over-year basis, the rate of improvement slowed in the third quarter, it said.