CHC Helicopter reaches Milestone Aviation financing deal

London
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Dublin-headquartered helicopter finance company Milestone Aviation has secured a sale-leaseback agreement for five aircraft - two Sikorsky S92s and three Eurocopter AS332L2s - with global helicopter services company CHC Helicopter.

The first part of the transaction - valued at more than $50 million - has closed, with the second set for completion in the next two months, bringing the total value of the deal to more than $80 million, Milestone says.

"The agreement, which covers aircraft already in CHC's fleet, gives CHC additional flexibility in meeting the growing needs of its global customers by helping make most efficient use of capital," Milestone Aviation said.

The helicopters are currently serving oil and gas contracts in Denmark, the UK and the Falkland Islands.

Since its launch in August 2010, Milestone has leased more than 24 helicopters and private jets valued above $240 million. The company says it has signed commitments that will push that total to over $300 million by the end of the year.