The lease agreements include the extension of three Sikorsky S-92 helicopters and the placement of two additional S-92s that are scheduled to deliver in 2023.
Milestone Aviation Group Limited, the world’s leading helicopter leasing and financing company, has signed lease agreements with Offshore Helicopter Services UK Limited (OHS) for five Sikorsky S-92 helicopters. The lease agreements include the extension of three Sikorsky S-92 helicopters and the placement of two additional S-92s that are scheduled to deliver in 2023. The oil and gas-configured helicopters will be deployed to support OHS’s offshore operations in the North Sea.
Milestone Aviation Group, an AerCap company, has more than 50 customers in over 40 countries, serving a variety of industries such as offshore oil and gas, search and rescue, emergency medical services, police surveillance, mining, fire-fighting, and other utility missions. Milestone partners with helicopter operators worldwide, providing a wide array of financial and productivity solutions, including operating leases, purchase/leasebacks, secured debt financing, engine leasing, and fleet advisory.
Pat Sheedy, the CEO of Milestone Aviation said, “We are pleased to continue building our relationship with OHS, having worked closely together for many years. It gives us great satisfaction to be able to support them and their new parent company, Ultimate Aviation, as they expand their offshore fleet, and we congratulate them on their new partnership.”
AerCap, the global leader in aviation leasing, has one of the most attractive order books in the industry, serving approximately 300 customers around the world with comprehensive fleet solutions. The company is listed on the New York Stock Exchange (AER) and is based in Dublin with offices in Shannon, Miami, Singapore, Memphis, Amsterdam, Shanghai, Dubai, Seattle, Toulouse, and other locations around the world.
Paul Kelsall, Managing Director, OHS said, “As part of our fleet strategy to meet increased demand from customers and improve airframe utilization, we have chosen to phase out first generation S92s and replace them with younger S92s. This significant deal strengthens our relationship with Milestone Aviation, a key supplier, and underlines our commitment to providing clients with the very best equipment and service level.”
OHS provides safe and reliable offshore helicopter transportation and emergency response services to the energy sector in the North Sea. Meanwhile, Ultimate Aviation is a prominent aviation industry player headquartered in Johannesburg, South Africa, offering charter, maintenance, and support services to clients across the African sub-continent and around the world.
Shaun Roseveare, Chief Executive Officer of Ultimate Aviation said, “Operational excellence is absolutely vital in the North Sea, and this investment in new aircraft is key to ensuring OHS is a market leader for years to come. Our active support for this transaction is a sign of our confidence in the vision to grow the capabilities of our offering there.”
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The latest lease agreements between Milestone and OHS signify Milestone’s commitment to supporting OHS’s expansion plans as it seeks to phase out older helicopters and replace them with younger S92s to meet increased demand from customers and improve airframe utilization. The deal highlights Milestone’s position as a key supplier to OHS and its reputation as a market leader in helicopter leasing and financing.
