Waypoint Leasing surpassed $500 million in assets
Waypoint Leasing, a helicopter leasing company, marked its first full year of operations and in July, provided a business update to the global helicopter market.
Waypoint’s fleet now includes more than 40 aircraft on lease and delivered from AgustaWestland, Airbus Helicopters, Bell Helicopter and Sikorsky Aircraft, with total assets valued at more than $500 million.
In late June, Waypoint took delivery of its fourth new AW139 AgustaWestland aircraft in 2014. In total, Waypoint currently has seven AgustaWestland AW139 aircraft in its fleet, and expects deliveries of the AW109, AW169 and AW189 in 2014 and 2015. Waypoint has aircraft on lease in 15 countries.
Additionally, Waypoint has firm and option orders with aircraft manufacturers for more than 80 helicopters valued at more than $1 billion at list prices, to be delivered over the next five years.
Waypoint has been able to build on its capital base, beginning with $375 million in equity financing from its primary sponsors last year, a recently upsized $468 million revolving credit facility and a five-year $72.5 million term loan facility.
Ed Washecka, CEO of Waypoint, said: “We appreciate the tremendous support of our customers and financial and operating partners who have been instrumental in our rapid growth into one of the premier helicopter leasing companies in the world.”
“Waypoint’s ability to expand our platform and our high volume of new customer relationships is a reflection of our unique approach to the marketplace and the widespread recognition and adoption of helicopter leasing solutions broadly. We look forward to continuing to meet the demand for helicopters and financing solutions in the years ahead,” Washecka added.
AgustaWestland said: “The company announced the signing of a multi-year, multi-aircraft agreement with Waypoint in March 2013 for GrandNew, AW169, AW139 and AW189 helicopters. Our relationship has strengthened and expanded since then, and we are continuing to deliver Waypoint the most modern range of high performance helicopters available in the market today. Finmeccanica – AgustaWestland congratulates Waypoint on its success over the past year and looks forward to building on our successful partnership in the future.”
Waypoint Leasing is headquartered in Limerick, Ireland and has operations in Darien in Connecticut.