Waypoint Leasing in numbers

Alasdair Whyte
By Alasdair Whyte November 27, 2018 11:05

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

 

Alasdair Whyte
By Alasdair Whyte November 27, 2018 11:05

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