Milestone Aviation Group

Milestone Aviation Group, a subsidiary of GE Capital Aviation Services (GECAS), is the first global aircraft operating lease company focused exclusively on the helicopter market. Milestone's offers a number of financial services to operators in 25 countries on six continents, including operational leasing, debt solutions, short-term leasing options, and long-term asset management programs. Headquartered in Dublin, Ireland, Milestone has their own additional operations in Columbus, Ohio, as well as GECAS offices around the globe.[3] Milestone currently touts a fleet of approximately 240 helicopters used in the offshore oil and gas industries, search and rescue, emergency medical services, police surveillance, mining, and other utility missions.

Milestone Aviation Group (GECAS)
IndustryAviation
FoundedJune 2010
FounderRichard Santulli
William Kelly
Daniel Rosenthal
Matthew Harris
Robert Dranitzke
John Burns,[1][2]
HeadquartersDublin, Ireland
Number of locations
Columbus, Ohio
Hong Kong, China
Dubai, UAE
São Paulo, Brazil
Singapore
ProductsAircraft Lease, Helicopter Lease
Number of employees
44
ParentGE Capital Aviation Services
Websitewww.milestoneaviation.com

History

Milestone Aviation Group was founded in August 2010 by Richard Santulli. Santulli has nearly 40 years of experience in helicopters, private jets and finance industries. He is known for inventing the fractional jet ownership industry and growing NetJets into a multinational corporation.[4] Milestone is based in Dublin, Ireland, where the company can benefit from Ireland’s skill set and tax infrastructure.[5]

After the late-2000s economic crisis that broke some of the world’s biggest financial institutions, helicopter operators lacked the access to capital needed to modernize and invest in new equipment demanded by clients. Milestone Aviation emerged in the helicopter industry as an alternative financing option to address this underserved market niche.[6]

In June 2015, the acquisition of Milestone Aviation by GE Capital Aviation Services (GECAS) saw the long-time aviation financier move into helicopter finance and leasing for the first time.

Corporate affairs

The company is run by a board of directors made up of a small number of shareholders and company members. Richard Santulli, founder and former chair and CEO of NetJets, serves as chairman of Milestone’s board of directors.[7] Brian Humphries, president and CEO of the European Business Aviation Association, also serves on Milestone’s advisory board.[8] Santulli brought members of the NetJets management team with him to head Milestone.[3] Pat Sheedy is the current CEO.[9]

Financial

Milestone Aviation Group secured $500 million of equity capital commitments to launch its business. U.S. middle-market private equity firm The Jordan Company led the investor team, in partnership with Nautic Partners. Since launching in August 2010, Milestone Aviation has leased more than 40 aircraft. Some of Milestone’s most notable deals include an order for sixteen (16) EC225s (valued at $480 million)[10] and three (3) Sikorsky S-92s, which join a fleet of seven (7) S-76C++ and four additional S-92s.[11] In 2012, Milestone agreed with Bristow Group Inc. (BRS) to lease five helicopters including two EC-225s and three S-92s, estimated value is $139 million.[12] In its first year of operation, Milestone closed deals with Aeroservicios Especializados S.A. de C.V. (ASESA), CareFlite, Global Vectra Helicorp, Helijet International Inc., Omni Taxi Aereo, and Inaer.[13] The company currently has an asset portfolio representing more than $500 million in financing commitments and holds leases with three of the four largest global helicopter operators, including Bristow, CHC and Inaer.[14]

References
  1. Matt Burns (August 4, 2010). "Ex-NetJets boss launches aircraft leasing firm". Columbus Business First.
  2. "The Milestone Aviation team". Corporate Jet Investor. October 4, 2010. Archived from the original on May 17, 2012.
  3. "International Offices of Milestone Aviation and Affiliates". Milestone Aviation Group.
  4. "Milestone Aviation Group Launches Unique Helicopter and Private Jet Leasing Firm". Zawya.com. August 4, 2010.
  5. Paul Walsh (August 9, 2010). "A "milestone" for the aviation industry as helicopter and private jet lessor sets up in Dublin". AssetFinancialInternational.com. Archived from the original on July 21, 2012.
  6. "Milestone Aviation Group closes inaugural helicopter lease". ShephardMedia.com. October 7, 2010.
  7. "Milestone History". MilestoneAviation.com. Archived from the original on 2011-12-29. Retrieved April 2, 2012.
  8. Charles Alcock (July 14, 2011). "EBAA Chief Joins Advisory Board at Milestone Aviation". AIN Online.
  9. "Pat Sheedy Named CEO of Milestone Aviation Group". Milestone Aviation. January 3, 2020.
  10. "Milestone Aviation Group Signs for 16 Eurocopter EC225". EADS. 12 February 2012.
  11. "Milestone Aviation Group Signs Contract for Three S-92® Helicopters" (Press release). Sikorsky. February 12, 2012.
  12. "Milestone Aviation, Bristow Group Ink Helicopter Leasing Pact - Quick Facts". NASDAQ. Retrieved April 19, 2012.
  13. Andrea Rothman (March 7, 2011). "Santulli's Milestone May Raise Debt to Build Helicopter Lessor". Bloomberg.
  14. "Milestone orders 16 helicopters from Eurocopter, and leases 5 helicopters to Bristow Group". AviationFinance.com. February 13, 2012.
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