Milestone Signs Lease Agreements with Aramco for Five Helicopters
ATLANTA, GA – Monday, March 06, 2023 – The Milestone Aviation Group Limited (“Milestone”), the global leader in helicopter leasing, today announced it has signed lease agreements for five helicopters with Aramco.
The agreements include the placement of three Leonardo AW139 helicopters and two Airbus H145 helicopters. All five aircraft are factory new and will be deployed on critical offshore oil and gas missions in Saudi Arabia with deliveries scheduled throughout 2023.
Milestone’s relationship with Aramco began in 2016 and the addition of these five units brings Aramco’s total helicopter fleet on lease from Milestone to 35 helicopters.
Speaking at HAI Heli-Expo in Atlanta, Michael York, the 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 honored to support Aramco as their trusted leasing partner, as they continue to expand and modernize their fleet.”
Khalid Al-Natour, Head of Aramco Aviation, said, “We are delighted to continue our 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. We know we can rely on Milestone, and we look forward to working together as we add these new helicopters to our fleet.”
Milestone Aviation Group, an AerCap company, is the world’s leading helicopter leasing and financing company. Milestone partners with helicopter operators worldwide, providing a wide array of financial and productivity solutions, including operating leases, purchase/leasebacks, secured debt financing, engine leasing and fleet advisory. The company supports over 50 customers in more than 40 countries serving a variety of industries, including offshore oil and gas, search and rescue, emergency medical services, police surveillance, mining, fire-fighting, and other utility missions. www.milestoneaviation.com
AerCap is the global leader in aviation leasing with one of the most attractive order books in the industry. AerCap serves approximately 300 customers around the world with comprehensive fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and is based in Dublin with offices in Shannon, Miami, Singapore, Memphis, Amsterdam, Shanghai, Dubai, Seattle, Toulouse and other locations around the world.
Aramco is a global integrated energy and chemicals company, driven by the core belief that energy is opportunity. Its global team is dedicated to creating impact, and focuses on making its resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world. www.aramco.com.
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