Waypoint Leasing closes helicopter acquisition from First Reserve

model of an AW139 on the Waypoint Leasing exhibition stand at Helitech 2013

Waypoint Leasing (Ireland) Limited has announced that it has closed the acquisition of 31 helicopters from First Reserve. The portfolio includes 18 AgustaWestland AW139s, 11 Sikorsky S-92s and two Sikorsky S-76C++ helicopters.

All aircraft are subject to long-term lease agreements with CHC Group.
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Ed Washecka, CEO of Waypoint says: “We are pleased to close such a significant transaction over a very short period. Waypoint has both the operational expertise and access to capital to execute both large and small scale transactions across a variety of markets very efficiently. We continue to see strong underlying demand for new technology helicopters in support of oil and gas production facilities and we remain well-positioned to meet our customers’ needs.”

Alan Jenkins, CFO of Waypoint adds: “We have successfully executed on our growth plans this year, meeting our goal of over $1 billion in assets, and look forward to further growth in 2015 and beyond. At the same time, we continue to diversify our financing relationships and have taken on very attractive export credit agency debt through the 31 aircraft transaction.”

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With this acquisition, Waypoint has increased its current fleet to 85 aircraft and total assets in excess of $1.1 billion.

The aircraft fleet are on lease with 11 customers operating in 20 countries around the world in oil and gas, emergency medical service, search and rescue, firefighting, governmental support and other operations.

Waypoint also has firm and option orders with aircraft manufacturers for additional helicopters valued at more than $1 billion at list prices, to be delivered over the next five years.