Transaction Facilitated by Milestone’s Leasing Platform in Tianjin Free Trade Zone
Dublin, Ireland Jan 22, 2018 - Milestone Aviation Group (“Milestone”), a GE Capital Aviation Services company (“GECAS”) and the global leader in helicopter leasing announced today the delivery and lease of eight AW139 helicopters to Shanghai Kingwing Aviation Co. Ltd.(“Kingwing”). The medium twin-engine helicopters will join Kingwing’s existing fleet of 32 helicopters providing emergency medical services (“EMS”) in China and will facilitate expanded services to twenty-two provinces nationwide.
Established in 2006, Kingwing is the largest EMS helicopter operator in China, not only providing EMS services, but also aircraft hosting, consignment stock, crew training and helicopter maintenance services. The company is well placed to achieve continued growth in China’s developing helicopter industry as the country relaxes airspace restrictions and promotes expansion of EMS services.
Milestone leased its first helicopter in China in 2014, and GECAS has been active in China since 1988. In 2017, the companies collaborated in establishment of a leasing platform in the Tianjin Free Trade Zone. Milestone’s depth of knowledge and experience in this area will allow it to better serve helicopter operators based in China.
“We are delighted to partner with Kingwing on the largest helicopter lease placement ever in China,” said Milestone President and Chief Executive Officer, Daniel Rosenthal, adding “We have long believed China was prime for growth in civil helicopters and look forward to supporting capable operators such as Kingwing as they provide critical life-saving helicopter services across China.”
“We are grateful to Milestone for their support in this very large and complex transaction” said Kingwing’s President Zou Jianming. “China is a complex and fast-moving business environment. Milestone and General Electric, with significant resources in country, are preferred partners to deliver on a transaction of this size and scope. I look forward to working with the Milestone team as a close partner in the years to come.”
About Milestone Aviation Group
Milestone Aviation Group, a GE Capital Aviation Services company, is a leading helicopter leasing and financing company. Milestone has a fleet of helicopters worth over US $4.0 billion plus a loan portfolio and debt commitments of approximately $400 million. The company has a forward order book of firm and option aircraft with an estimated aggregate purchase price in excess of US $3 billion. 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 35 customers in more than 30 countries serving a variety of industries, including offshore oil and gas, search and rescue, emergency medical services, police surveillance, mining and other utility missions. www.milestoneaviation.com
GE Capital Aviation Services (GECAS)
GECAS is a world leader in aviation leasing and financing. With 50 years of aviation finance experience, GECAS offers a wide range of aircraft types including narrow-bodies, wide-bodies, regional jets, turboprops, freighters and helicopters, plus multiple financing products and services including operating leases, purchase/leasebacks, secured debt financing, capital markets, engine leasing, airframe parts management and airport/airline consulting. GECAS owns or services a fleet of nearly 2,000 aircraft (1,673 fixed wing/ 324 rotary wing) in operation or on order, plus provides loans collateralized on an additional ~400 aircraft. GECAS serves more than 250 customers across 79 countries from a network of 26 offices. gecas.com
GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com
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