With the aim of enhancing its search and rescue capabilities, the Bristow Group has signed a leaseback agreement with Milestone Aviation for two helicopters.
Milestone Aviation supplies a wide variety of financial solutions specially designed with helicopter operators working globally. As well as leasebacks, its services include operating leases, fleet advisory, secured debt financing and engine leasing.
An asset-based lending (ABL) option, a leaseback agreement (also called sale and leaseback), is a transaction that allows a company to sell an asset it owns to a lender or investor and then instantly lease it back. This lets the company keep using the asset while simultaneously freeing capital from the sale. ABLs are an alternative option to SME business loans when companies have high-value assets at their disposal.
The group has secured agreements for two 15-seater twin engine Leonardo AW139 helicopters (formerly known as the AgustaWestland AW139). The aircraft are now with Bristow Group for deployment in search and rescue missions here in the UK.
CEO for Milestone, Pat Sheedy, commented that the AW139s were state-of-the-art helicopters and that the aviation group was pleased to strengthen its long-term partnership with the Bristow Group through the lease. He added that Milestone wished the group every success, and took pride in supporting its expansion efforts.
In turn, COO at Bristow, Alan Corbett, said that the company appreciated Milestone’s support as it worked to supply both the aircraft and the capabilities required for critical search and rescue activities in the UK.
