Milestone Aviation Group

Milestone Aviation Group (GECAS)
Industry Aviation
Founder Richard Santulli
William Kelly
Daniel Rosenthal
Matthew Harris
Robert Dranitzke
John Burns,[1][2]
Number of locations
 Columbus, Ohio
Colts Neck, New Jersey (United States)
Products Aircraft Lease, Helicopter Lease
Number of employees
 19
Website www.milestoneaviation.com

Milestone Aviation Group is the first global aircraft operating lease company focused exclusively on the helicopter market. Milestone's global aircraft leasing platform addresses the liquidity needs of a transforming marketplace through 100% operating lease financing.[3] Headquartered in Dublin, Ireland, Milestone has additional operations in Colts Neck, New Jersey and Columbus, Ohio in the United States.[4] In June 2015, GE Capital Aviation Services acquired Milestone Aviation Group. All Helicopters leased will be under the GECAS name.

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.[5] Milestone is based in Dublin, Ireland, where the company can benefit from Ireland’s skill set and tax infrastructure.[6]

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.[7]

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.[8] Brian Humphries, president and CEO of the European Business Aviation Association, also serves on Milestone’s advisory board.[9] Santulli brought members of the NetJets management team with him to head Milestone.[4]

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) EC 225’s (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]

Recent news

In October 2014, it was announced that General Electric’s financial division was in talks to acquire Milestone.[15]

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.
  3. ↑ "Milestone Aviation Group and CHC Helicopter Agree to $80 Million Financing". AOL. September 29, 2011.
  4. 1 2 Elan Head (September 13, 2011). "Milestone Creates Ripples". VerticalMag.com.
  5. ↑ "Milestone Aviation Group Launches Unique Helicopter and Private Jet Leasing Firm". Zawya.com. August 4, 2010.
  6. ↑ Paul Walsh (August 9, 2010). "A "milestone" for the aviation industry as helicopter and private jet lessor sets up in Dublin". AssetFinancialInternational.com.
  7. ↑ "Milestone Aviation Group closes inaugural helicopter lease". ShephardMedia.com. October 7, 2010.
  8. ↑ "Milestone History". MilestoneAviation.com. Retrieved April 2, 2012.
  9. ↑ Charles Alcock (July 14, 2011). "EBAA Chief Joins Advisory Board at Milestone Aviation". AIN Online.
  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.
  15. ↑ "GE unit in talks to buy Milestone Aviation" (Press release). Reuters. 10 October 2014.
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