GE, Waypoint make separate agreements for helicopter services

Offshore staff

DUBLIN – A GE unit and Waypoint Leasing have both secured new deals regarding helicopter services that will benefit the offshore industry.

GE Capital Aviation Services, GE’s aircraft leasing unit, is set to acquire Milestone Aviation Group, the Dublin, UK-based helicopter lessor, for $1.775 billion. The transaction is targeted to close in 2015.

Milestone’s fleet includes 168 helicopters that are used in offshore oil and gas, search and rescue, emergency medical services, and mining, as well as in other industries, and are leased to 31 operators in 25 countries.

Waypoint Leasing (Ireland) Ltd., a global helicopter leasing company headquartered in Limerick, Ireland, has reached an agreement with Bristow Group Inc., a provider of helicopter services to the offshore energy industry, for the sale and leaseback (SLB) of two Sikorsky 92 (S-92) helicopters.

Both S-92 helicopters operate offshore in crew change configurations out of Scatsta airport on the Shetland Islands off of Scotland.

10/14/2014

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