ANAHEIM, Calif.--(BUSINESS WIRE)--Milestone Aviation Group, the global leader in helicopter leasing, together with AgustaWestland, a Finmeccanica company, announced today at Helicopter Association International’s Heli-Expo that they have signed a purchase contract for eight new-generation AgustaWestland helicopters as part of the companies’ landmark framework agreement. The framework agreement was initially announced in September 2013. The contract for five AW139 and three AW189 helicopters will deliver by year-end 2014. The framework agreement, which covers 44 firm and option aircraft delivering over the next four years, when fully executed, represents the largest civilian helicopter sale in AgustaWestland history.
“We are pleased to expand our partnership with AgustaWestland across its family of aircraft,” said Milestone’s Chairman and CEO Richard Santulli. “We believe that the AW189 is going to serve an important role in passenger transport for the offshore oil and gas industry and search and rescue, so we are excited to be one of the launch customers for this state-of-the-art rotorcraft.”
“As the world's largest helicopter lessor, Milestone has cultivated customer relationships on six continents giving us the confidence that they can lease this level of AgustaWestland equipment,” said AgustaWestland CEO Daniele Romiti. “Our partnership with Milestone provides operators with another way to gain access to AgustaWestland’s product line, allowing them to experience the tremendous benefits offered from the commonalities across the AW139, AW169 and AW189 family.”
The framework order is comprised of AW169 light intermediate, AW139 intermediate, and AW189 eight-ton class twin-engine helicopters.
Milestone had 31 AgustaWestland aircraft in its fleet as of December 31, 2013. These aircraft are on lease to operators in Asia, Australia, Europe and the Americas serving the offshore oil and gas, emergency medical service and search and rescue industries. The new aircraft will be made available for lease to Milestone’s partners and operators globally.
Notes to the Editor:
ABOUT MILESTONE AVIATION GROUP
Milestone Aviation Group is the global leader in helicopter leasing. Since launching in August 2010, and as of December 31, 2013, Milestone has acquired 143 aircraft valued at over US$ 2.2 billion and closed leases with 26 operators in over 20 countries on six continents. The company has a forward order book of over 130 firm and option aircraft valued at over US$ 3.0 billion. These delivery positions of in-demand helicopters are made available for lease globally. Milestone partners with helicopter operators worldwide and supports them through 100 per cent operating lease financing. The company provides financing for helicopters, serving a variety of industries, including offshore oil and gas, search and rescue, emergency medical services, police surveillance, mining and other utility missions. Further information is available at www.milestoneaviation.com.
This press release contains forward‐looking statements. Forward‐looking statements involve uncertainties, risks and assumptions, since these statements include information concerning Milestone’s possible or assumed future results or performance, operations, business strategies, financing plans and potential growth opportunities. Forward‐looking statements speak only as of the date they were made, and Milestone undertakes no obligation to update publicly or to revise any forward‐looking statements because of new information, future events or other factors. In light of the risks and uncertainties described above, the forward‐looking events and circumstances discussed herein might not occur and are not guarantees of future performance. Milestone’s actual results and performance could differ substantially from those anticipated in its forward‐looking statements.