Commercial, Products, Services

Milestone Acquires Funds for Bristow Airframes

By Staff Writer | September 23, 2013
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Milestone Aviation Group (Stand J50) has closed on a $300-million credit facility, to be used for acquiring and leasing helicopters valued at $400 million to affiliates of Bristow Group Inc. The assets include Sikorsky S-92, Eurocopter EC225 and AgustaWestland AW189 and AW139 types.

Said Milestone Chairman and CEO Richard Santulli: “We structured this transaction with Bristow and worked together to bring it to completion. The proceeds will allow us to continue to support Bristow while diversifying our sources of capital.”

Greater Manchester Police MD902 Explorer
lands at Helitech 2011 in Duxford.
Photo by Andrew Parker, Editor-in-Chief

Milestone’s capital strategy is focused on developing diverse sources of funding to conservatively grow its business and best meet the needs of the helicopter community. The company has more than $500 million in equity capital and has raised $1.8 billion in debt commitments from leading banks in North America, Europe and Asia, as well as insurance companies and the US capital markets. The lessor is also financing a Eurocopter EC225 for Blueway Offshore Norge AS. The Norwegian-registered aircraft will be used for crew change missions to offshore oil and gas platforms in the North Sea. The delivery is the first since the aircraft was cleared for a full return to flight.

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