Industry

Published on February 25th, 2015 | by Jim Lee

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Waypoint Leasing to Acquire 31 helicopters

Limerick-based helicopter financier, Waypoint Leasing, whose helicopter fleet is valued at more than $500 million (€398.82 million), announced on 4th November that it had reached an agreement with First Reserve, a private equity and infrastructure investment firm to acquire a portfolio of 31 helicopters, including 18 AgustaWestland AW139s, 11 Sikorsky S-92s and two Sikorsky S76C++ aircraft models. All aircraft are subject to long-term lease agreements with the CHC Group Ltd. In addition it also announced that it secured a $75 million (€61.06 million) increase in the equity commitment from its primary sponsors – funds affiliated with MSD Capital, L.P., Soros Fund Management LLC, and Cartesian Capital Group bringing the sponsors’ equity commitment to a total of $450 million (€366.29 million). Earlier in October, Waypoint agreed to lease two Agusta Westland AW139s to Babcock International subsidiary Avincis for medical emergency services, fire fighting and supporting the oil and gas services.  They will be based with Avincis’s Italian subsidiary, INAER Aviation. It has agreed a similar deal to supply two Sikorsky S-92s to Bristow Group, which specialises in providing back-up services to the energy and oil and gas industries.

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Jim has had a life-long interest in military matters and aviation. Initially, he fused both of these interests together with a passion for military aviation, initially as a photographer. He has travelled extensively over the years and has been the guest of many European air forces, plus the air forces of the United States, Russia and others throughout the world. His first introduction to journalism coincided with an interest in the civil aviation industry was when he initially wrote for and later edited, ‘Aviation Ireland’, the club magazine of the Aviation Society of Ireland. Jim was a contributor to Flying in Ireland since its inception over 10 years ago and is now a key contributor to this site. He has also contributed items for a number of other aviation magazines and has produced a number of detailed contributions to Government policy documents, most recently the Irish Government’s White Paper on Defence. He is also deeply involved in the local community and voluntary sector and has worked both in local government and central government.



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