Milestone Aviation announces $205M in aircraft transactions
March 8, 2011 By Melissa Damota
March 8, 2011 – Milestone Aviation Group, the first global specialty finance company focused exclusively on the helicopter and private jet markets, announced today $205 million in transactions.
March 8, 2011 – Milestone Aviation Group, the first global specialty finance company focused exclusively on the helicopter and private jet markets, announced today $205 million in transactions. With this announcement, which was made at the Helicopter Association International Heli-Expo, Milestone has closed on 20 new and pre-owned helicopters totalling $141 million as well as signed Letters of Intent for an additional $64 million in equipment.
The announced transactions include the following Milestone customers:
- CareFlite of the USA;
- Global Vectra of India;
- Helijet International Inc of Canada;
- Inaer of Europe; and
- Omni Taxi Aereo of Brazil.
These operators use the helicopters in a range of industries, such as oil and gas, Emergency Medical Services (EMS) and government contract transport.
The cumulative total also includes a significant new Milestone helicopter order that will be announced later today at Heli-Expo. Milestone is exhibiting at Heli-Expo Booth 4042 at the Orange County Convention Center in Orlando, Florida, through March 8.
“In just six months since we launched Milestone, we have already reached $205 million worth of transactions to provide lease financing to high-quality helicopter and private jet operators,” said Richard Santulli, chairman of Milestone. “We are delighted to have acquired in such a short time $141 million in equipment, with another $64 million committed, to support our partners.”
“We believe a blend of asset ownership and leasing is essential to manage our financial risk, achieve our growth targets and, most importantly, meet the needs of our customers,” said Jorge Diaz-Crespo Cardona, CEO of Inaer, the leading global provider of mission-critical helicopter services. “Milestone offers a customised solution in the marketplace and we are proud to be amongst their first customers.”
Milestone Aviation Group provides short or long-term leases of any amount for new purchases, pre-owned equipment or the sale-leaseback of existing assets, all with 100% financing. Milestone, which secured $500 million of equity last August to provide lease financing to the helicopter and private jet markets, is currently in various stages of discussions with helicopter operators and private jet owners on six continents.
“Our announcement today demonstrates the breadth and global nature of the Milestone business,” said Milestone CEO William Kelly. “Our partnership with first-class companies both large and small provides proof of the value of our product offering and our place in the industry.”