Milestone Aviation Group (Booth No. 4042), a global finance company focused on providing leasing of high-value helicopters and private jets, announced at Hel-Expo 2011 that it has closed $141 million in transactions for 20 new and used helicopters since the company was launched in last August.
Aircraft valuation specialist Ascend painted a mixed picture of prospects for airliner leasing and sales this year in its Evolution 2011 webinar on February 10.
Richard Santulli’s re-entry into the helicopter game drew mixed reaction from a variety of operators who spoke to AIN. Santulli is the CEO of the newly formed Milestone Aviation Group, a company that will devote most of its resources to helicopter leasing and sale leasebacks.
Richard Santulli, founder of fractional-share company NetJets, is back in the aviation business with a new business jet and helicopter leasing company called Milestone Aviation Group. Santulli, 66, resigned from NetJets last August but said at the time that he would remain a consultant to the company for a year. Warren Buffett’s Berkshire Hathaway bought NetJets in 1998 for $725 million.
Richard Santulli announced today the launch of a new business jet and helicopter leasing company, Milestone Aviation Group, headquartered in Dublin, Ireland. Santulli in the mid-1980s founded fractional share company NetJets, which was sold in 1998 to Warren Buffett’s Berkshire Hathaway. Santulli left that company last year. He is now chairman of Milestone.
Airbus hopes to help loosen the grip of tight-fisted credit outlets with an MoU it signed this month with the world’s largest bank, China’s ICBC, to collaborate on aircraft financing and management activities. The deal would involve the structuring of operating and finance lease transactions, portfolio management and aircraft placement remarketing.
Although Westchester County Airport in New York agreed to grant a new
lease on Hangar E-1 to JPMorgan Chase, existing leaseholder Avitat Westchester
Buying an aircraft can be a daunting task. Unless a company or individual has deep pockets, it will inevitably require either leasing with an option to buy or financing a purchase. Even if paying in cash is an option, doing so can be problematic. Dave Labrozzi, senior v-p and general manager of Danbury, Conn.-based GE Corporate Aircraft Group, explained the difference between leasing with an option to buy and outright purchase.
Chicago-based Jet Support Services Inc. (JSSI) and Fleet Capital Leasing have entered into a strategic alliance agreement to bundle JSSI’s engine, airframe or tip-to-tail hourly cost maintenance program with Fleet Capital aircraft financing.
Noticing that aircraft finance companies were more prominent here this year, EBACE Convention News did a quick walkabout to see when they first had booths at the show and what their impressions were.