DALLAS, March 7, 2017 /PRNewswire/ -- Milestone Aviation Group Limited ("Milestone"), the global leader in helicopter leasing, wrote $1 billion in leases and letters of intent in 2016, and the value of its helicopter fleet has now surpassed $4 billion. Recent successful transactions serving emergency medical services as well as the search and rescue segment place nearly a quarter of Milestone's fleet supporting life-saving missions. In addition to Milestone's focus on diversification, service offerings now encompass many of GECAS' capabilities, such as debt financing, engine leasing, and fleet advisory.
"We are highly energized by our accomplishments over the past year," said Daniel Rosenthal, Milestone President and Chief Executive Officer. "In a challenging industry environment we not only grew our business in asset size and leases, but also in scope and strategy through diversifying our portfolio and supporting our customers with expanded financial, productivity and advisory solutions."
In 2016, Milestone wrote 23 leases and letters of intent in the emergency medical services sector alone, and another 12 in other parapublic missions. With newly established customers in China, Korea, Australia, Norway and Western Europe, the helicopter lessor is now supporting EMS missions globally. Milestone sees strong demand for fleet renewal and service growth in the EMS segment and recently placed new orders with Airbus and Leonardo focused on new technology light-twin aircraft to meet this demand.
Milestone also extended debt commitments of over $400 million in 2016 to support global operators and is offering customers productivity and advisory solutions in addition to lease and debt offerings. "We have great momentum coming out of 2016, and with over $250 million of capital already committed in 2017, we are excited for the year to come," said Rosenthal, adding "Milestone will continue to draw on the resources of GE to support our customers."
Increases in Offshore Wind projects have prompted a partnership with GE's Renewable business, which builds Wind Turbines, to identify new opportunities for helicopter operators. With the help of GE's Aviation Digital team, Milestone clients are benefiting from customized digital solutions such as flight operations quality assurance programs.
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
About GE Capital Aviation Services (GECAS)
GE Capital Aviation Services (GECAS) is a world leader in aviation leasing and financing. With 50 years of experience, GECAS offers a wide range of aircraft types including narrowbodies, widebodies, regional jets, turboprops, freighters and helicopters, plus multiple financing products and services including operating leases, purchase/leasebacks, secured debt financing, capital markets, engine leasing, airframe parts management and airport/airline consulting. GECAS owns or services a fleet of over 1,950 aircraft (~1,700 fixed wing/ ~250 rotary wing) in operation or on order, plus provides loans collateralized on an additional ~400 aircraft. GECAS serves ~270 customers in over 75 countries from a network of 25 offices. www.gecas.com
GE (NYSE: GE) is the world's Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com
Media Contact for Milestone:
Kekst and Company
SOURCE Milestone Aviation Group