Saturday, September 1, 2012
Milestone Purchases 19 Additional Sikorsky S-92s for Leasing
Dublin, Ireland-based Milestone Aviation has agreed to buy 19 more S-92s from Sikorsky Aircraft. The contract follows an order for three S-92s placed in February 2012 at Heli-Expo. The combined 22-helicopter purchase is valued at more than $600 million. The first two helicopters are scheduled for delivery later this year. Milestone has also closed several debt facilities that were worth a combined total of $400 million. The debt facilities included a Deutsche Bank-led facility worth $265 million, a $75-million SEB facility and three separate facilities with Societe Generale worth upwards of $60 million. Milestone partnered with Deutsche Bank in the transaction, and plans to use the capital to support its partners in the global helicopter market.