February 13th 2012 – Milestone Aviation Group has ordered 16 EC225 aircraft, the latest-generation member of Eurocopter’s Super Puma/Cougar family, valued at $480 million. The helicopters will be delivered over five years, starting in 2013. The lessor also announced it has agreed to lease five helicopters, two Eurocopter EC-225s and three Sikorsky S-92s, to Bristow Group, making it the lessor’s largest agreement since its launch in August 2010.

Since launching in August 2010, Milestone has provided over US $500 million in finance to operators around the world including Bristow, CHC and Inaer. The partnership between Eurocopter and Milestone is seen as a major development as it ‘removes the capital hurdle related with ownership’ according to Eurocopter’s President and CEO, Lutz Bertling and will allow more operators to introduce the helicopter into their fleets.

Richard Santulli, Chairman of Milestone Aviation Group, said, “This historic order enables Milestone to provide our customers with the best aircraft and product options available. The EC225 has a great pedigree and a reputation for providing leadership in safety and high reliability in demanding operating conditions. I leased all of the original Super Pumas, the EC225’s predecessor, delivered in North America in the 1980s with my old company RTS Helicopters, so this deal signals the resumption of a very important partnership.”

“The EC225 is a remarkable aircraft and we are excited to be able to offer it to abroader audience of potential operators through our partnership with Milestone,” said Lutz Bertling, Eurocopter’s President and CEO. “By removing the capital hurdle associated with ownership we are hopeful that we can introduce the EC225 to more operators around the world.”

Eurocopter’s EC225 offers superior speed, range, payload, optimal safety and reliability. Deployed worldwide for civil and military search and rescue, as well as off-shore and passenger transport missions, it is the latest-generation member of the Super Puma/Cougar family, which has logged more than four million flight hours in operations around the globe.

The EC225 is perfectly adapted to missions in severe weather, as it is designed to meet the highest safety standard levels with system redundancy, a highly capable automatic flight control system, and the capability for full deicing – which allows flight in all known icing conditions.

When configured for offshore crew change operations in support of oil and gas producers, the EC225 can be rapidly converted for search and rescue operations.

“We are honoured that Eurocopter has shown this trust in Milestone by partnering on the EC225”, said William Kelly, Milestone’s CEO. “We look forward to working closely with our partners as we place these helicopters with high-quality operators around the world providing mission critical services in the oil and gas industry, parapublic services, mining and search and rescue”

Bristow leases

Milestone Aviation Group and Bristow Group announced its lewase agreements at the HAI Heli-Expo. they completed operating leases in December 2011 for two Eurocopter EC-225s deliverable in mid-2012 and anticipate closing the leases for three 2011 Sikorsky S-92 helicopters later this quarter. All five helicopters are expected to operate in the North Sea. The total value of the five aircraft is in the range of $125 to $135 million.

Richard Santulli, Milestone Chairman, said, “We are delighted to enter into a financing relationship with Bristow, which operates the world’s largest fleet of commercial helicopters for the offshore oil and gas industry. Our level of commitment combined with the reputation of this world-class operator truly makes this a landmark deal for Milestone.”

William E. Chiles, Bristow Group President and Chief Executive Officer, said, “The terms of these agreements, with Milestone covering 100% of the acquisition cost of the aircraft, meet our commercial needs to better manage our financial performance. What’s more, Milestone brought capital, creativity and commitment to the transaction process. We look forward to building a broader relationship with the Milestone team in the future.”

According to Milestone helicopter operators are utilizing operating leases more frequently to diversify their capital structure, take advantage of the low capital requirements, improve cash flow, reduce risk and increase operational flexibility. The lessor has positioned itself to structure and execute lease transactions that meet the diverse needs of operators worldwide and also provide capital to operators during periods when alternative sources are limited or unavailable due to market constraints.

This agreement with Bristow Group marks the largest for Milestone Aviation Group since its launch in August 2010. The company currently has an asset portfolio representing more than $500 million in financing commitments and now holds leases with three of the four largest global helicopter operators in the world.