Waypoint Leasing has extended the maturity on two existing revolving credit facilities, the company said. It plans to put the proceeds toward its aircraft order program, and to its ongoing efforts to facilitate closings and financing solutions for customers.
“In aggregate over $390m of revolving credit commitments extended across seven lenders, with over $100 million now maturing in late 2019 and over $280 million in late 2020,” the company said.
Of its acquired fleet of 147 aircraft, Waypoint has 31 lessees operating in 31 countries, with assets totally more than $1.6 billion. Helicopters in firm and option orders with aircraft manufactures have value of more than $1.3 billion. These consist, Waypoint said, primarily of light twin to super medium.
“Waypoint appreciates this endorsement of our business model from our financing partners. These transactions increase our financial flexibility and come at a time when we are seeing some level of recovery in our markets,” said Ed Washecka, CEO of Waypoint and R&WI Advisory Board member. “This gives us further power to support our operator customers in exploiting that trend through our appetite for sale-and-leaseback transactions, or from our order book, or from the cost-effective solutions we provide through remarketing our inventory. Reducing asset risk and enhancing liquidity through Waypoint gives our operator partners more time and resource to focus fully on offering quality service to customers.”