Milestone supports Blueway with financing of 4th EC225

Milestone supports Blueway with financing of 4th EC225

31-Jul-2013 Source: Milestone Aviation

Milestone Aviation Group, the global leader in helicopter leasing, announced today that it is financing the delivery of a Eurocopter EC225 to Blueway Offshore Norge AS, a subsidiary of Blueway AS. The Norwegian registered aircraft will be used for crew change missions to offshore oil and gas platforms in the North Sea. The European delivery is the first since the aircraft was cleared for a full return to flight.

“We are delighted to support Blueway’s growth through the financing of an additional EC225,” said Robert Thor Dranitzke, Milestone’s Managing Director. “Blueway is a great operator, and we are excited to expand our partnership while also supporting the safe return to service of the EC225.”

“This aircraft, acquired with our partner Milestone, has been fitted by Eurocopter with the full range of EASA-mandated safety modifications as well as all of the latest reliability improvements from the EC225 maturity programme,” said Dag Johan Sætre, Blueway’s Technical Director. “It is a great aircraft and a mainstay of the North Sea fleet. We will work with purpose alongside our customers to safely return it to service.”

Milestone has a growing EC225 fleet, with 10 units currently on lease to 4 operators utilising the assets in Australia, Brazil, Denmark, Norway and the United Kingdom. Multiple new customer deliveries and sale-leaseback transactions are expected over the next twelve months. Additionally, the company has 30 EC225 aircraft on order, valued at €670 million (US $885 million) at list prices. The aircraft are to be delivered over 5 years beginning in 2013. These firm orders and options enable Milestone to provide increased value to its partners by offering timely delivery slots for 100% financed EC225 aircraft globally.

Note to the Editor:

ABOUT MILESTONE AVIATION GROUP

Milestone Aviation Group is the world’s leading helicopter lessor. The company partners with helicopter operators globally and supports them through 100 percent operating-lease financing. Milestone 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. Since launching in August 2010, Milestone has acquired more than 100 aircraft valued at over $1.5 billion and closed leases with 22 operators in over 20 countries. Further information is available at www.milestoneaviation.com.

ABOUT THE BLUEWAY GROUP

Blueway has provided helicopter services since 1986. The company is leading in Northern Europe within several advanced helicopter based services to a wide range of industries. Blueway operates a fleet of 33 helicopters and offers specialized services to the following sectors: Offshore, Infrastructure, Environment and Search & Rescue (SAR). The Offshore business constitutes about 65 percent of the Group’s total revenues, about 25 percent comes from Infrastructure and Environment, and about 10 percent comes from Search & Rescue. The Group’s subsidiaries operate under the following brands: Blueway Offshore Norge, DanCopter, Airlift (infrastructure, environment and search & rescue for the Norwegian government), and Vertech Offshore.

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