International Corporate Jet & Helicopter Finance 2014: Live Blog – Day Three
Corporate Jet Investor brings you live helicopter coverage from International Corporate Jet & Helicopter Finance 2014 in London. Please refresh the page for the latest updates.
- The third and final day of International Corporate Jet & Helicopter Finance 2014 focuses on the global helicopter market.
- Today’s programme includes speakers from AgustaWestland, Bristow, Lease Corporation International, Era Group, Waypoint Leasing and lots more.
- For further updates, follow @CorpJetInvestor and @BizJetBlogger on Twitter.
18.02 VOTE: How long will we have to wait until China has one of the world’s largest helicopter fleets?
0 per cent say 2015
16 per cent say 2020
34 per cent say 2015
50 per cent say 2020
16.04 In case you missed it, Deutsche Bank – which is being represented by Ahsen Rajput on this afternoon’s financier panel – was presented with the award for the Best Middle Eastern Financier at the Corporate Jet Investor Awards 2014 last night.
15.12 John Mannion, assistant treasurer & director of asset finance at Bristow Group, says the Bristow training academy is a “very important recruiting tool.”
12:59 Gustafson says 2013 was “a pretty good year.” As we break for lunch, the overall message from the first half of the day has been very positive, especially when compared to the more measured/sombre insights into the business jet market that we heard on Tuesday and Wednesday.
The bad news is that Investec’s African coffee stand in the lobby has now been taken down.
12.40 Here’s how Era Group’s latest helicopter orders break down:
AW139: Four due by the end of Q4 2014, four more options
AW169: Five awaiting certification
AW189: Three due in 2014, two due in 2015, three due in 2016, two due in 2017, 10 more options
S-92: Three due in 2016, one due in 2017, 5 more options
12.37 Sten Gustafson, CEO of Era Group, says over $1.2 billion has been spent to grow and upgrade Era’s fleet (with more to come). “We’re notneccesarily focused on having the largest fleet – we’re consistently buying and selling aircraft.”
12.10 Watson: “We’re in the theatre business; we provide entertainment.”
12.05 Watson: There is little demand for helicopters carrying very specific branding.
12.04 Watson: “Second-hand helicopters can provide terrific value. I’m pleased to see that people are buying them and I hope to see it continue.”
12.02 Nigel Watson, CEO of Luviair, says helicopter transfers can typically save private jet passengers an extra 10 or 15 minutes. “It is not always a massive time saving, but the passenger feels like they are moving and it is the perception of saving time, which is important.”
11.59 Speaking of the VIP sector, Luviair is now speaking about flying high-net-worth individuals to the World Cup and landing helicopters on super yachts.
11.43 The panel does not see the VIP sector as a focus. It is more effective to lease an aircraft to somebody who needs it e.g. oil and gas.
11.40 The panel agrees that manufacturers have been open and supportive, but that there is a finite number of helicopters that manufacturers will sell to leasors instead of directly to customers.
11.38 Geach says helicopter manufacturers are supportive of the “new breed of helicopter leasors.”
11.35 We’re now listening to the helicopter leasing panel, featuring Lease Corporation International, Macquarie Bank and Waypoint Leasing. Owen Geach, commercial director of IBA Group – and moderator of the panel – asks how many people in the room are actively looking to finance helicopters. Around 15 people raise their hand. James Clarke, COO of Macquarie Rotorcraft, says: “We don’t need your money today, but let’s talk in a year or two.”
— Ascend (@AscendAviation) February 6, 2014
10.55 VOTE: What do you think of the Cape Town Convention?
57 per cent say: “I take some comfort from the Cape Town Convention, but still have concerns about certain jurisdictions.”
0 per cent say: “I take a lot of comfort from the Cape Town Convention.”
19 per cent say: “It is just a piece of paper” (agreeing with Eric Chartier from Eurocopter’s statement at last year’s conference).
10.45 Rosales says the Cape Town Convention is a “helpful tool” for helicopter lenders.
10.35 Rex Rosales, global head of aviation at Watson Farley & Williams is stressing the importance of appointing a technical expert in the result of an operating lessor default.
10.15 Chris Wills, client delivery manager – valuation, Ascend, said that were a record number of helicopters delivered in 2013. He said: “We expect to see the helicopter market steaming ahead in 2014.”
10.05 VOTE: “What is the biggest threat to the helicopter market?”
35 per cent say OEM over-production
29 per cent say a shortage of people
10.02 We’re back in London at the Royal Garden Hotel and we’re focusing solely on the helicopter market today in the final day of what has been a hugely successful International Corporate Jet & Helicopter Finance 2014. We’ve already heard from two speakers, with another to to come before the morning coffee break. Earlier this morning, Giorgio Neri, vice president marketing at AgustaWestland, said that around 750 AW139 helicopters have been sold.