– New Offices to Open in Asia, South America and Middle East/Africa; Expansion in Europe –
– Increased Financial Strength after GE Capital Acquisition –
ORLANDO, Florida, March 2, 2015 –Milestone Aviation Group, a GE Capital Aviation Services company and the global leader in helicopter leasing announced today at Helicopter Association International’s Heli-Expo that the company is expanding its international presence into three new regions – Asia, South America and the Middle East/Africa – while also growing its European staffing.
Milestone will be opening offices this year in Singapore; Sao Paulo, Brazil; and the United Arab Emirates, while continuing to grow its team in Europe. The company plans to add over 20 employees in the near term with a focus on increasing its global marketing efforts and better serving its customers. This global expansion is consistent with GE Capital’s growth strategy. The company currently serves its clients globally from its existing offices in Ireland and the United States.
“Milestone continues to lead the helicopter leasing industry by remaining steadfast in our commitment to customers and partners, and by offering the most innovative product solutions and services in the world,” said Milestone President Daniel Rosenthal. “By investing in our team and enhancing our global reach, we will be able to better serve our existing customers around the world, grow in new geographies and forge relationships with new customers providing mission-critical services to emergency medical services (EMS), search and rescue (SAR), and other utility and government missions, as well as offshore oil and gas.”
In addition to its global expansion, Milestone announced that with the successful completion of its acquisition by GE Capital Aviation Services in January, it repaid the overwhelming majority of its outstanding debt. Going forward, Milestone will largely be funded by GE intercompany sources, giving the company increased financial strength, flexibility and enhanced customer service capability as it expands globally.
“By paying down substantially all of our external debt and with the strength of the GE balance sheet behind us, Milestone will have a greater capability to capitalize on opportunities in the market and better serve our customers around the world,” said Milestone Chief Financial Officer Colin Golden.
About Milestone Aviation Group
Milestone Aviation Group, a GE Capital Aviation Services Company, is the world’s leading commercial helicopter leasing company. Milestone has a fleet of 178 helicopters worth US $3.0 billion and supports 33 operators in 26 countries on six continents. The company has a forward order book of 121 firm and option aircraft with an estimated aggregate purchase price of US $2.7 billion. These near-term delivery positions of in-demand helicopters are made available for lease globally. Milestone partners with helicopter operators worldwide and supports them through lease financing. The company provides financing for helicopters serving a variety of industries, including offshore oil and gas, search and rescue, emergency medical services, police surveillance, mining and other utility missions. Further information is available at www.milestoneaviation.com.
About GE Capital Aviation Services (GECAS) GECAS is the U.S. and Irish commercial aircraft financing and leasing business of GE. It is the global leader in aircraft financing, offering the widest range of aircraft types from helicopters to wide body jets and financing options including operating leases and secured debt financing. With 40+ years of industry experience, GECAS currently leases more than 1,570 aircraft to over 235 customers in 75 countries and also provides productivity solutions including spare engine leasing, aviation consulting services, and spare parts financing and management. A unit of GE Capital, GECAS stays close to its customers with offices in 24 cities around the world. (www.GECAS.com)
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Media Contacts for Milestone:
Eric Berman / Nathan Riggs of Kekst and Company
+1 212-521-4894 / +1 212-521-4804