Milestone agrees five-helicopter lease deal with Aramco
The five new aircraft will be deployed on offshore oil and gas missions in Saudi Arabia with deliveries scheduled to take place throughout this year.
Revealing the agreement ahead of HAI Heli-Expo in Atlanta, Georgia, Michael York, head of Emerging Markets, Milestone Aviation said: “Aramco has pioneered offshore oil and gas helicopter operations in the Middle East for decades and we are honoured to support Aramco as their trusted leasing partner, as they continue to expand and modernise their fleet.”
The latest deal brings Aramco’s total helicopter fleet on lease from Milestone to 35 helicopters. The lessor’s first agreement with the oil firm was in 2016.
Khalid Al-Natour, head of Aramco Aviation said the business was delighted to continue its relationship with Milestone. “The leasing model has been tremendously successful for Aramco as it has allowed us to focus on our operational excellence while de-risking asset ownership and depreciation costs,” said Al-Natour. “We know we can rely on Milestone and we look forward to working together as we add these new helicopters to our fleet.”