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