Dublin, Ireland-based Milestone Aviation Group has closed on a $300-million credit facility involving Lloyds Bank, Lombard and the Barclays Bank. The company plans to use the funding toward a $400-million agreement with Bristow Group to acquire and lease Sikorsky S-92s, Eurocopter EC225s and AgustaWestland AW189s and AW139s.
Milestone has also reached a financing agreement to supply a Eurocopter EC225 to Blueway Offshore Norge, a subsidiary of Blueway AS. Blueway Offshore intends to use the Norway-registered helicopter for crew change operations to offshore oil and gas platforms in the North Sea. The handover represents the first EC225 delivery since the variant returned to service after being grounded in October 2012.
Related: Offshore News