Richard Santulli

October 20, 2014 - 6:40pm

In a deal that could be a preview for the red-hot helicopter leasing market, GE Capital Aviation Services (Gecas, Booth 2631) announced October 13 that it plans to acquire helicopter leasing firm Milestone Aviation Group for $1.775 billion. The deal is expected to close next year.

Gecas, the U.S. and Irish commercial aircraft financing and leasing business of GE Capital, has a fleet of approximately 1,600 owned and serviced aircraft with more than 230 airlines. Gecas also provides spare engine leasing, aviation consulting services and spare parts financing and management.

October 13, 2014 - 1:15pm

In a deal that could be a preview for the already red-hot helicopter leasing market, GE Capital Aviation Services (Gecas) announced October 13 that it is acquiring helicopter leasing firm Milestone Aviation for $1.775 billion.

September 9, 2014 - 2:55pm

Helicopter leasing company Milestone Aviation Group signaled its intention to offer stock to the public–an initial public offering (IPO)–yesterday in a filing with the U.S. Securities and Exchange Commission. No date for the IPO has been set, nor has any valuation been placed on shares to be offered. Milestone was founded by former NetJets CEO and founder Richard Santulli in 2010 with an initial capitalization of $500 million. The company’s current fleet is valued at $2.2 billion and it has more than 145 helicopters on order worth $3.4 billion.

May 21, 2014 - 8:20am

Fractional-share provider NetJets (Booth 6656) is celebrating the 50th anniversary of the founding of Executive Jet Airways, a U.S. charter and management company that is NetJets’s corporate ancestor. The first celebration took place at an EBACE 2014 event yesterday, held with Bombardier at the static display.

May 13, 2014 - 3:40pm

Jim Christiansen, a giant in the business aviation industry, passed away last night at the age of 67. He led several large air charter firms, as well as NetJets, over his nearly 50-year career, most recently serving as vice president of business development at FlightSafety International.

May 8, 2014 - 2:20pm

First-quarter revenues at NetJets and FlightSafety International soared by 12 percent and 14 percent, respectively, according to parent company Berkshire Hathaway. Higher revenues at NetJets reflected increased sales of fractional aircraft and flight services revenues due to increased flight hours, while FlightSafety’s increase was the result of increased simulator training activity. Quarterly revenues at its services businesses, which include NetJets and FSI, increased by $284 million, to $2.4 billion, while profits climbed by $34 million, to $243 million.

March 4, 2014 - 3:48pm

NetJets accounted for more than a third of the revenue increase at Berkshire Hathaway’s “other service” businesses last year, according to the parent company’s year-end results released on Saturday. The division, which also includes FlightSafety International and several other non-aviation companies, saw revenues climb by $821 million, to $9 billion, with NetJets’ share rising by $288 million–up 7.5 percent year-over-year–thanks to higher sales of fractional aircraft shares.

February 25, 2014 - 11:10pm
Sikorsky Milestone signing

Milestone Aviation Group (Booth No. 5114) and Sikorsky (Booth No. 2822) recognized two noteworthy achievements for the companies during opening day of Heli-Expo 2014.

February 4, 2014 - 3:50am

A busy year for upheaval in the fractional ownership and closed-fleet private aviation sectors reached a crescendo in December when Flight Options parent company Directional Aviation Capital completed its $185 million acquisition of Bombardier’s Flexjet program.

January 9, 2014 - 2:00pm

On the heels of secured note private placement that brought in $575 million in cash earlier this week, helicopter lessor Milestone Aviation Group announced today that it has closed on an unsecured $200 million revolving credit line. This new facility increases Milestone’s unsecured borrowing capacity to $450 million and revolving borrowing capacity to $800 million.

 
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