15-Jul-2014 Source: Waypoint Leasing
Waypoint Leasing (“Waypoint”), a leading global helicopter leasing company, marked its first full year of operations and provided a business update to the market.
Waypoint’s fleet, which ranges from light single engine to heavy twin engine helicopters, now includes more than 40 aircraft on lease and delivered from Finmeccanica – AgustaWestland, Airbus Helicopters, Bell Helicopter and Sikorsky Aircraft Corporation, with total assets valued at more than $500 million. In late June, Waypoint took delivery of its fourth new AW139 Finmeccanica – AgustaWestland aircraft in 2014. In total, Waypoint currently has seven AgustaWestland AW139 aircraft in its fleet, and expects deliveries of the AW109, AW169 and AW189 in 2014 and 2015.
Waypoint’s fleet of aircraft are leased to a broad range of helicopter operators worldwide to support oil and gas missions, as well as emergency medical services, search and rescue, firefighting, governmental support and other operations. In total, Waypoint has aircraft on lease in 15 countries.
Additionally, Waypoint has firm and option orders with aircraft manufacturers for more than 80 helicopters valued at more than $1 billion at list prices, to be delivered over the next five years. Waypoint’s growing fleet and robust order book facilitates maximum responsiveness and flexibility to accommodate the needs of its customers for in-demand aircraft.
A testament to its business plan, Waypoint has been able to quickly build its capital base, beginning with $375 million in equity financing from its primary sponsors last year, a recently upsized $468 million revolving credit facility and a five-year $72.5 million term loan facility. With over $900 million in capital raised to-date, Waypoint is well-positioned to expand its established operating platform and fleet of helicopter assets.
While bolstering the growth of the company’s fleet and forward orders, Waypoint has also built out a high quality and scalable platform, implementing best in class accounting, contract management and technical systems while expanding its workforce to 25 full-time employees. Recent recruits include some of the industry’s most knowledgeable and experienced professionals who have joined Waypoint from helicopter operating and leasing companies, original equipment manufacturers and financial institutions. Some key recent executive appointments include:
Ed Washecka, CEO of Waypoint, said, “We appreciate the tremendous support of our customers and financial and operating partners who have been instrumental in our rapid growth into one of the premier helicopter leasing companies in the world. Waypoint’s ability to expand our platform and our high volume of new customer relationships is a reflection of our unique approach to the marketplace and the widespread recognition and adoption of helicopter leasing solutions broadly. We look forward to continuing to meet the demand for helicopters and financing solutions in the years ahead.”
Finmeccanica – AgustaWestland said, “The company announced the signing of a multi-year, multi-aircraft agreement with Waypoint in March 2013 for GrandNew, AW169, AW139 and AW189 helicopters. Our relationship has strengthened and expanded since then, and we are continuing to deliver Waypoint the most modern range of high performance helicopters available in the market today. Finmeccanica – AgustaWestland congratulates Waypoint on its success over the past year and looks forward to building on our successful partnership in the future.”
About Waypoint Leasing:
Waypoint Leasing is a global helicopter leasing company that provides operating lease and financing solutions to helicopter operators worldwide. Headquartered in Limerick, Ireland, and with operations in Darien, CT, Waypoint Leasing differentiates itself with a senior management team that has direct helicopter operating and leasing experience in key helicopter markets around the world, having leased helicopters across Africa, Asia, Australia, Europe and North and South America. Waypoint Leasing serves a wide range of sectors including oil and gas, emergency medical service, search and rescue, firefighting and governmental support. Further information is available at www.waypointleasing.com.