LCI acquires Nova Capital Aviation - Airline Economics
01 November 2021
Fixed-wing and helicopter leasing company LCI finalised an agreement in December to acquire Nova Capital Aviation (Ireland) Limited, the twinengine rotary and fixed-wing aircraft lease division of the Nova Capital Group. The Nova Capital Group has retained single-engine operations.
The acquisition will result in a substantial expansion of LCI’s leasing platform to over 140 twin-engine rotary and fixed-wing aircraft. It will also take the proportion of aircraft deployed on emergency medical services (EMS), search and rescue (SAR), off-shore wind and utility missions, to over 80% of the entire leasing platform.
“The Nova brand is highly regarded, and is a major presence in the missioncritical EMS market which perfectly complements our own,” said Crispin Maunder, Executive Chairman of LCI. “Our agreement reflects the current trend towards industry consolidation, and is testament to the robust leasing platform we have built. It expands our customer base, introduces new aircraft types to our fleet, and cements LCI’s long-term commitment to growth.”
Last year, Nova Capital further expanded its fleet with the addition of eight factory new twin-engine EMS helicopters valued at over US$90 million, reaching half-a-billion total fleet value at 2021 year-end. Nova Capital stated that it will now focus on the development of its single-engine helicopter, light utility fixed-wing aircraft, and other advanced air mobility operations, in partnership with LCI.
“Over 20 years, we have developed a marketleading leasing operation that specialises in providing asset financing solutions to helicopter and fixed-wing aircraft operators, primarily in onshore mission critical services,” said Olivier Piot, Founder and CEO of Nova Capital. “We are delighted to conclude this agreement with such a complementary business as LCI. Their proven leasing platform, extensive experience in both the fixed-wing and rotary-wing leasing markets, and immersion in mission critical helicopter operations, make them a natural choice."
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