Waypoint Leasing in numbers
Waypoint Leasing, the world’s second largest helicopter leasing company filed for Chapter 11 on Sunday November 25.
Size
- In October 2018, Waypoint valued its assets at $1.62 billion and its liabilities at $1.23 billion.
On November 16, 2018, Waypoint’s fleet consisted of:
- 165 helicopters – 25 heavy, three super-medium, 73 medium, 41 intermediate twin, 23 light
- 17 different types: 40% Sikorsky, 33% Leonardo, Airbus 24%, Bell 3%
- It has six H225s
- $1.5 billion net book value
- CHC, Babcock Mission Critical Systems and Bristow account for 73% of its portfolio
- It has 36 customers in 34 countries
- Lease terms vary from three months to 10 years
- Some 22% of its fleet is parked
Finance
- Waypoint has nine separate debt facilities with 24 different lenders (some are in more than one facility.
- MSD Capital (the family office of Michael Dell), Quantum Strategic Partners (a fund run by George Soros) and Cartesian Capital invested $375 million in Waypoint in April 2013.
- In November 2017, the equity sponsors agreed to cut their fees – saving the company $3 million a year. In April 2018, the sponsors also invested a further $20 million.
Related stories
Macquarie buys Waypoint Leasing for $650 million December 8 2018
What went wrong at Waypoint Leasing? December 5 2018
Waypoint Leasing in numbers November 27, 2018
Waypoint Leasing files for Chapter 11 November 25, 2018
Why 2018 is a year of change for Helicopter Leasing November 23, 2018
Credit freeze hits helicopter market September 5, 2018
Waypoint Leasing in talks with lenders September 2, 2018
