Waypoint Leasing has managed to place two of the rotorcraft being returning early as part of CHC Group's Chapter 11 restructuring.

Dublin-based Waypoint, one of several helicopter lessors with significant exposure to CHC, says it has placed a pair of AgustaWestland AW139 intermediate twins with new, undisclosed clients in Africa and Asia in support of the offshore oil and gas industry.

It says it is "actively engaged with numerous interested parties" to remarket a number of other helicopters relinquished by CHC, which entered Chapter 11 bankruptcy protection in May.

"These discussions are in advanced stages; and in some cases, transaction terms and letters of intent have been agreed upon," it says.

Analysis of bankruptcy court documents shows that CHC is seeking to divest 13 aircraft currently on lease from Waypoint.

These include: seven AW139s (MSNs 31042, 31141, 31203, 31492, 31498, 41005, 41210); four Sikorsky S-76C++ helicopters (MSNs 760651, 760734, 760764, 760765); and a pair of S-92s (MSNs 920022, 920119).

Waypoint is the lessor with the third-largest exposure to the operator, after Parilease, a subsidiary of BNP Paribas, and GECAS-owned Milestone Aviation Group, the court documents show.

CHC has so far been authorised to reject leases on 65 of 86 helicopters it intends to release early. It plans to shed an additional 13 aircraft financed as part of a credit facility.

Waypoint's portfolio includes more than 130 aircraft for 18 customers in 28 countries, it says; total assets exceed $1.6 billion.

In addition, it has firm and tentative orders for more than 125 helicopters, valued at more than $1.7 billion, to be delivered over the next five years.

Source: FlightGlobal.com