CASE STUDY: WESTSTAR
Malaysian operator Weststar Aviation Services is the largest
provider of offshore helicopter services in Asia and already
operates a fleet of helicopters for major oil and gas companies.
A new contract with Tullow Oil in Mauritania marked the beginning of an international expansion for which new, high-performance aircraft were needed to support Tullow Oil’s offshore operations off the west coast of Africa.
Looking to respond to this immediately to meet the Tullow Oil need and cement its commercial relationship, Weststar approached LCI for a solid arrangement to benefit all parties.
Looking to expand overseas and build its global brand, Weststar Aviation Services was keen to close its deal with Tullow Oil and provide it with two helicopters for the West African coast. Tullow was likewise keen to maintain its competitive edge leading reputation for oil and gas exploration and production across Africa and the Atlantic Margins.
Quality aircraft with a decent payload and range are essential for crew transportation and general coverage in the region where Tullow operates and it looks for safe, reliable helicopters from trusted operators such as Weststar to help it in achieving this.
Two new AW139 helicopters, valued at over $30 million and initially operated under contract to Tullow Oil, were both delivered in June 2013 on a long-term lease basis. LCI already had an existing order valued at approximately US$400 million for new AW139, AW169 and AW189 helicopters and was able to bring in a further two aircraft for the fleet through its strong association with Leonardo.
The lease financing was completed quickly and efficiently, meaning Weststar could take the aircraft in a very short timeframe and immediately deploy them with Tullow Oil.
Immediately entering service and on attractive financial terms, the helicopters helped WesStar to honour its contract through the provision of high-performance aircraft in a vital setting for the oil and gas industry. Tried and tested, and with flexible leases, the benefits were instantly universal. Tan Sri Muhammad Ismail, CEO of Weststar Aviation Services, said: “LCI were a supportive and important partner in the provision of these helicopters. They were able to respond rapidly to our needs and give us access to the right technology on terms that suited this offshore deployment.”
Michael Platt, LCI’s Chief Executive Officer, says: “We’re delighted to be able to help Weststar expand its services overseas with our new generation Leonardo helicopters. By leasing these brand new helicopters Weststar is able to respond quickly to their customers’ requirements and do so.”
LCI were able to respond rapidly to our needs and give us access to the right technology on terms that suited this offshore deployment.