Waypoint closes Singapore office, reopens in Hong Kong
Helicopter lessor Waypoint is relocating its Asia Pacific office from Singapore to Hong Kong to better serve its clients.
Waypoint’s Asia Pacific arm has moved to China, where the company is focusing its attention in the region. The new office will continue to be headed up by Philip Stransky, Waypoint’s vice president of sales and relationship management, Asia Pacific.
Speaking to Helicopter Investor, Mr Stransky said: “China represents an exciting growth market for us. The whole industry has been focusing on China and Waypoint is well positioned to lead given our involvement in the region over the past few years.
“The utility market is of course one area of focus for the company, and we are always working with our partners in the oil and gas market, particularly as it stabilises. It is hard to predict how Chinese oil companies will react to evolving market conditions, and we look forward to working closely and creatively with operators in the region to support their operations.”
Waypoint has seven offices in total, located in Limerick, London, Rio de Janeiro, Brisbane, Connecticut, Hong Kong, and Stellenbosch. Stransky previously handled operations in Australia before Chris Wakefield joined the company to manage the Australia and New Zealand markets.
Alan Jenkins, Waypoint’s president, COO and CFO, predicts that the Asia Pacific region will be the largest growth market for the company, saying: “The number of civil helicopters operating in China has grown an average of fifteen percent annually since 2013, an astonishing rate in the face of a global market downturn during this period.
“We anticipate Asia to be the most significant engine of global growth in the helicopter market over the next five years. Waypoint is dedicated to serving this important multi-mission market as it grows and evolves, and we will be well positioned to do so with our investment in resources in the region.”
Outside of China, Waypoint has signed deals in India, Taiwan, Indonesia, and Thailand. The majority of the company’s business comes from the utilities market but is also eyeing a recovering oil and gas market.
The opening of the Hong Kong offices follows Waypoint’s establishing its leasing platform in Tianjin, China. As Waypoint is targeting China, the move to Hong Kong will help better support its customers in the region.
Mr Stransky said: “With our first deals already closed in China, the creation of our Tianjin leasing platform, and a strong pipeline of interesting opportunities across Asia, our new Hong Kong office is strategically important for Waypoint and is representative of the level of commitment we have in supporting our customers.
“Waypoint will have a complement of industry experienced cross-functional resources embedded in the region, further enabling Waypoint to provide solutions and even faster deal execution for our growing customer base.”