Milestone Aviation Group Limited (“Milestone”), a GECAS company and the global leader in helicopter leasing, and Airbus Helicopters announced they will provide five H145s to Aramco Overseas Company, a subsidiary of Saudi Aramco, a fully integrated, global petroleum and chemicals enterprise.
The five aircraft are sourced from Milestone’s orderbook with Airbus and are expected to be delivered to Aramco over the next twelve months. This latest lease commitment of five light-twin aircraft will be in addition to the 24 medium aircraft Milestone currently has contracted on lease to Aramco.
“Aramco’s trust in Milestone’s ability to deliver certainty of execution — coupled with our financial and technical capabilities - is greatly appreciated by our team. We take pride in the fact that our long-term partnership approach to further assist Aramco with the introduction into service of their comprehensive medium and light-twin fleet renewal program now places Aramco as one of Milestone’s largest global customers,” said Milestone President & CEO Daniel Rosenthal.
“We are pleased that Aramco has selected the H145 for its light-twin fleet renewal program in the Kingdom of Saudi Arabia, which is a key and historic partner for Airbus and home to our subsidiary in the region. The H145’s proven technologies, availability, and cabin versatility are the perfect tools to meet Aramco’s demanding requirements as a global leader in oil and gas,” said Airbus Helicopters CEO Bruno Even.
Compact in size, the H145 is the aircraft of choice for high intensity operations such as offshore oil and gas transport thanks to its large and flexible cabin, lowest maintenance costs in its class, powerful engines and Helionix digital avionics suite. More than 200 H145s have been delivered to date and have collectively achieved more than 100,000 flight hours since 2015.
Milestone Aviation Group, a GE Capital Aviation Services company, is the world’s leading helicopter leasing and financing company. Milestone has a fleet of helicopters worth over US $4.5 billion plus a loan portfolio and debt commitments of approximately $400 million. The company has a forward order book of firm and option aircraft with an estimated aggregate purchase price in excess of US $3 billion. 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. The company supports over 44 customers in more than 30 countries serving a variety of industries, including offshore oil and gas, search and rescue, emergency medical services, police surveillance, mining and other utility missions.
GE Capital Aviation Services (GECAS) is a world leader in aviation leasing and financing. With 50 years of aviation finance experience, GECAS offers a wide range of aircraft types including narrow-bodies, wide-bodies, regional jets, turboprops, freighters and helicopters, plus multiple financing products and services including operating leases, purchase/leasebacks, secured debt financing, capital markets, engine leasing, and airframe parts management. GECAS owns or services a fleet of nearly 2,000 aircraft (1,631 fixed wing/ 333 rotary wing) in operation or on order, plus provides loans collateralized on an additional ~330 aircraft. GECAS serves ~250 customers in over 75 countries from a network of 25 offices. gecas.com
Airbus is a global leader in aeronautics, space and related services. In 2017 it generated revenues of € 59 billion and employed a workforce of around 129,000. Airbus offers the most comprehensive range of passenger airliners from 100 to more than 600 seats. Airbus is also a European leader providing tanker, combat, transport and mission aircraft, as well as one of the world’s leading space companies. In helicopters, Airbus provides the most efficient civil and military rotorcraft solutions worldwide.
Aramco is a world leader in integrated energy and chemicals. Their European offices support a wide range of activities, from facilitating the safe and reliable delivery of energy to customers around the globe, to pushing for breakthroughs in research and innovation. Aramco’s presence in Europe stretches back over 60 years, in which they have evolved from a services company to a knowledge based enterprise, with six locations throughout the region, each with its own area of focus.