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LCI launches first helicopter co-investment vehicle

LCI, the helicopter lessor and the aviation division of the Libra Group, has launched its first ever helicopter co-investment vehicle, which contains five aircraft all on long-term lease – three Leonardo AW139 and two Sikorsky S-92 units – and is valued at over US$100 million. It has been launched in partnership with Flexam Tangible Asset Income Fund (part of Flexam Invest Group), which has also contributed to the capitalisation. LCI will also act as servicer for the vehicle.

“LCI is delighted to lead the helicopter leasing sector in launching this new form of ownership vehicle,” said Jaspal Jandu, CFO of LCI. “It enables investors to participate at a specific transaction level and we are delighted to be partnering with Flexam whose professionalism in asset financing has been instrumental in executing this transaction.”

LCI first entered the helicopter leasing marketplace in 2012 with a $400 million order for a fleet of Leonardo AW139, AW169 and AW189 aircraft. Today the operation is responsible for the ownership, management and servicing of nearly 100 aircraft. These are in operation across four continents in multiple sectors including offshore wind, emergency medical services, search and rescue, maritime pilot transfer and offshore oil and gas.

LCI’s fleet now comprises approximately US$1 billion of assets in service, on order and under control, focused on medium and super-medium helicopters manufactured by OEMs like Leonardo, Airbus and Sikorsky.

Since its inception in 2004, LCI has acquired fixed wing and rotary aircraft with a value of around US$6 billion. Libra Group holds 30 subsidiaries active in 35 countries focusing on six core sectors, including: aviation, energy, hospitality, real estate, shipping, and diversified investments.