Post Year: 2014

LCI, the aviation leasing arm of the Libra Group, has become the first aircraft lessor to take delivery of the new state-of-the-art AW189 helicopter.

The particular aircraft is being placed on long term lease with the AgustaWestland Training Academy, and will be used as part of the conversion-to-type training of pilots to fly the new AW189 – deliveries of which are accelerating to customers all over the world.

This AW189 is the first of an initial commitment for 16 AW189’s, with additional options, which LCI Helicopters has ordered, and these will be offered for lease to operators in a number of roles including Offshore Oil and Gas, Search & Rescue and aero-medical transport.
Crispin Maunder, Executive Chairman of LCI, says: “Modern, versatile aircraft such as the AW189 are without doubt the helicopters of the future and they will form an integral part of LCI Helicopters’ fleet development in the years ahead.”

“We believe that the efficiency and innovation of next generation aircraft such as this coupled with the flexibility of leasing are a winning combination.”

LCI Helicopters is the fourth customer to accept delivery of the AW189, following deliveries to Bristow, Gulf Helicopters and Weststar Aviation Services.

The AW189 was designed in response to the growing market demand for a versatile, affordable, multirole medium helicopter and is optimized for long-range missions with orders for 130 helicopters signed already.

LCI Helicopters’ has a fleet of delivered and ordered helicopters approaching 90 new units, including the market-leading AgustaWestland AW139, AW169 and AW189 helicopters and next-generation Airbus Helicopters EC175 and the newly-unveiled Airbus EC225e, for which LCI is a launch customer.

LCI announced almost US$1 billion in new orders at the HAI Heli-Expo in Anaheim, California, earlier this year and has also attracted investment of more than US$100 million from KKR Financial Holdings, LLC, to address growing oil and gas sector demand, as well as search and rescue and air ambulance services.

Since its inception in 2004, LCI has acquired fixed wing and rotary aircraft with a combined value of approaching US$6 billion.

LCIH will be attending this year’s Helitech conference in Amsterdam, Crispin Maunder and Michael Platt will be present along with the LCI Helicopters Marketing Team at Stand H18.

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LCI, the aviation leasing arm of the Libra Group, has entered into an agreement to lease a new AgustaWestland AW139 to HeliService international, the leading provider of offshore services, passenger and cargo transportation, polar flights and helicopter maintenance services.

This will be the first new AW139 in HeliService’s fleet. The helicopter, scheduled for delivery in November, will be operated in the North Sea and Baltic regions, primarily to support the growing offshore wind industry. To meet the exacting requirements of these missions, this particular helicopter has been built to a high specification, including dual hoists.

Established in 1987, HeliService international GmbH, based in Northern Germany, currently operates a fleet of AW139, S-76, AW Grand and MBB BO 105 helicopters on missions in Northern Europe and also in Antarctica and the Arctic

LCI Executive Chairman, Crispin Maunder, says: “We are delighted to form this new partnership with HeliService, and have worked closely with them to define a specification that will be of immense benefit for their customers over the years to come.”

Eberhard Herr, Managing Director at HeliService international GmbH says: “Working with the LCI team has been a very positive experience. Our negotiations have been constructive and expedient, driven by the goal of achieving fair solutions for both parties. I am sure we have found the right partner for the expansion of my company.“
Earlier this month LCI successfully closed a five-year, US$325 million asset–backed credit facility for its helicopter-leasing arm, LCI Helicopters.

LCI’s helicopter division comprises a fleet of delivered and ordered helicopters approaching ninety new units, including the market-leading AgustaWestland AW139, AW169 and AW189 helicopters and next-generation Airbus Helicopters EC175 and the newly-unveiled Airbus EC225e, for which LCI is a launch customer.

LCI’s helicopters are already in operation across five continents – Asia, Australasia, Africa, Antarctica, and Europe.

LCI announced almost US$1 billion in new orders at the HAI Heli-Expo in Anaheim, California, earlier this year and has also attracted investment of more than US$100 million from KKR Financial Holdings, LLC, to address growing oil and gas sector demand, as well as search and rescue and air ambulance services. Since its inception in 2004, LCI has acquired fixed wing and rotary aircraft with a combined value of approaching US$6 billion.

LCIH will be attending this year’s Helitech conference in Amsterdam, Crispin Maunder and Michael Platt will be present along with the LCI Helicopters’ marketing team at Stand H18.

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LCI, the aviation leasing arm of the Libra Group, has appointed Laurent Janitza as Vice President Marketing, based in the company’s Singapore office.

Mr Janitza, joins LCI with 20 years’ experience in the aerospace sector, much of it in Asia, and was previously with Bombardier Aerospace in Singapore as its Sales Director, Commercial Aircraft. Prior to joining Bombardier, he held a number of positions with Honeywell Aerospace in Singapore, culminating in the role of Customer Support Director for Asia Pacific. Part of Mr Janitza’s responsibilities at Honeywell included the sale of avionics to helicopter operators.

Mr Janitza began his career with Airbus Helicopters in Sydney, and holds an MBA in International Business, as well as having attended the international program at INSEAD Shanghai.

LCI Chief Executive Officer, Michael Platt, says: “We are delighted to be expanding our Singapore team with someone of Laurent’s extensive experience in the Asia Pacific region and the aerospace sector. We look forward to Laurent’s support in helping to drive LCI’s continued commitment to our customers. “

Laurent Janitza says: “It’s an exciting time to be joining LCI, I am very much looking forward to bringing my regional experience to the team in Singapore, and contributing to the company’s growth in Asia Pacific.”

Mr Janitza’s appointment comes at a busy time for LCI. Earlier this month they successfully closed a five-year, US$325 million asset–backed credit facility for its helicopter-leasing arm, LCI Helicopters.

LCI’s helicopter division comprises a fleet of delivered and ordered helicopters approaching ninety new units, including the market-leading AgustaWestland AW139, AW169 and AW189 helicopters and next-generation Airbus Helicopters EC175 and the newly-unveiled Airbus EC225e, for which LCI is a launch customer.

LCI announced almost US$1 billion in new orders at the HAI Heli-Expo in Anaheim, California, earlier this year and has also attracted investment of more than US$100 million from KKR Financial Holdings, LLC, to address growing oil and gas sector demand, as well as search and rescue and air ambulance services. Since its inception in 2004, LCI has acquired fixed wing and rotary aircraft with a combined value of approaching US$6 billion.

LCIH will be attending this year’s Helitech conference in Amsterdam, Crispin Maunder and Michael Platt will be present along with the LCI Helicopters’ marketing team at Stand H18.

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LCI, the aviation leasing arm of The Libra Group, has appointed Angelo Raimondi to its Helicopter Advisory Board.

Mr. Raimondi joins the Board with over 40 years’ experience in the helicopter and aircraft services industries, having worked for Agusta and subsequently AgustaWestland since 1972. He holds a BSc. in Aeronautical Engineering and also holds an MBA.Formerly based in Milan as AgustaWestland’s Vice President International Sales from 1994 to 2011, Angelo was responsible for European and former USSR Republics. Subsequently he was appointed the Senior Advisor to the company.

LCI Executive Chairman, Crispin Maunder, says “we are delighted to welcome Angelo to our Advisory Board. He brings with him a wealth of invaluable experience of the helicopter industry and he will doubtless play a significant role in our future growth”.

Angelo Raimondi says “I am excited to have the opportunity to contribute to the continuing growth of LCI Helicopters as they expand into new markets and new helicopter types”. Angelo joins a highly experienced Advisory Board which includes John Sheldon, David Simpson and David Hayler.

Earlier this month LCI successfully closed a five-year, US$325 million asset–backed credit facility for its helicopter-leasing arm, LCI Helicopters. LCI’s helicopter division comprises a fleet of delivered and ordered helicopters approaching ninety new units, including the market-leading AgustaWestland AW139, AW169 and AW189 helicopters
and next-generation Airbus Helicopters EC175 and the newly-unveiled Airbus EC225e, for which LCI is a launch customer.

LCI announced almost US$1 billion in new orders at the HAI Heli-Expo in Anaheim, California, earlier this year and has also attracted investment of more than US$100 million from KKR Financial Holdings, LLC, to address growing oil and gas sector demand, as well as search and rescue and air ambulance services. Since its inception in 2004, LCI has acquired fixed wing and rotary aircraft with a combined value of approaching US$6 billion.

LCIH will be attending this year’s Helitech conference in Amsterdam, Crispin Maunder and Angelo Raimondi will be present along with the LCI Helicopters Marketing Team at Stand H18.

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LCI, the aviation leasing division of the Libra Group, has successfully closed a five-year, US$325 million asset–backed credit facility for its helicopter-leasing arm LCI Helicopters. The facility was substantially over-subscribed resulting in an enlarged provision to meet demand. An option to increase the facility to $425 million was also added. The funds will be used to expand the company’s helicopter fleet. LCI Helicopters, in which KKR Financial Holdings, LLC, holds a minority stake, has been growing at scale since LCI’s entry into the helicopter leasing market in 2012.

The commitments for the facility come from a total of eleven lenders from North America, Europe and Asia, including nine new to LCI Helicopters. The transaction was supported by commitments from three main institutions acting as joint lead arrangers and bookrunners: CIT Group, Inc., Nomura Corporate Funding Americas, LLC, and BNP Paribas.

CIT will act as administrative agent and collateral agent; Citibank, N.A., EverBank Financial Corp. and Barclays Bank PLC as co-syndication agents, and The Huntington National Bank and Lombard North Central PLC as co-documentation agents. The other participating lenders include: Amalgamated Bank, Siemens Financial Services, Inc. and National Australia Bank Limited.

Jaspal Jandu, LCI’s Chief Financial Officer, said: “Helicopter operating leasing is a relatively new and dynamic development in the aviation sector. LCI offers flexible leasing options and a solid capital base to our lessees and we are pleased to have the support of our banking partners which demonstrates continued confidence and assurance in our approach.”

Chris Cantwell, Group Head and Managing Director, CIT Corporate Finance, Aerospace & Defense, added: “As existing lenders to LCI, we have been consistently impressed with the company’s vision, management and leasing platform. This new facility endorses that view and model throughout the financing community and provides committed debt capital to the company to meet its impressive growth plans.”

LCI’s helicopter division comprises a fleet of delivered and ordered helicopters approaching 90 new units, including the market-leading AgustaWestland AW139, AW169 and AW189 helicopters and next-generation Airbus Helicopters EC175 and the newly-unveiled Airbus EC225e, for which LCI is a launch customer. LCI announced almost US$1 billion in new orders at the HAI Heli-Expo in Anaheim, California, earlier this year and has also attracted investment of more than US$100 million from KKR Financial Holdings, LLC, to address growing oil and gas sector demand, as well as search and rescue and air ambulance services. Since its inception in 2004, LCI has acquired fixed wing and rotary aircraft with a combined value of approaching US$6 billion.

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LCI, the aviation leasing arm of the Libra Group, has announced its new partnership with Indwe Aviation (Pty) in George, South Africa, through the long-term lease of an AW139 helicopter. The brand-new unit forms part of LCI’s multimillion dollar order from AgustaWestland first announced in 2012.

The lease agreement marks the beginning of a new relationship for LCI with Indwe Aviation and its parent company Titan Helicopter Group, a leading provider of helicopter services with operations spanning South Africa, Namibia, Angola, Equatorial Guinea, Libya, Peru, Antarctica, Mozambique, India and the Ivory Coast. Lungisa Dyosi, CEO of Indwe Aviation, said: “The introduction of the AW139 helicopter to our fleet is a major advancement for offshore oil & gas operations in the region and the next step in our strategy to provide excellent service to the highest safety standards for all our customers, wherever they may be.”

The 15-seat, twin-engine helicopter will be operated by Indwe Aviation to provide offshore crew change support from George Airport, George, South Africa. The Titan Helicopter Group and its subsidiary Indwe Aviation are the first offshore helicopter operators to bring the AW139 onto the South African register. Martin Steynberg, Chairman of the Titan Helicopter Group, added: “We are very pleased to have established this new relationship with LCI which represents a significant boost for the entirety of operations at Titan and Indwe through adoption of the very latest features in helicopter fleet safety and technology.”

LCI CEO, Michael Platt, added: “With this delivery we are bringing the AW139 to new markets and forming a new commercial relationship with Indwe Aviation and Titan Helicopter Group. Leasing is a very flexible solution with advantages for all partners in the arrangement”.

LCI’s helicopter division comprises a fleet of over 75 brand-new models delivered and committed, including the market-leading AgustaWestland AW139, AW169 and AW189 helicopters along with the next-generation Airbus Helicopters EC175 and the newly-unveiled Airbus EC225e, for which LCI is a launch customer. LCI announced almost US$1 billion at the HAI Heli-Expo in Anaheim, California, earlier this year shortly after KKR Financial Holdings agreed to invest more than $100 million its helicopter division to tap growing oil and gas sector demand. Since its inception in 2004, LCI has acquired fixed wing and rotary aircraft with a combined value of approaching US$6 billion.

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LCI, the aviation leasing arm of the Libra Group, has this week unveiled commitments for up to 39 new helicopters worth around US$925 million and with further 2014 pipeline orders up to a total value approaching US$1 billion.

The lessor’s helicopter division has signed a contract with Airbus Helicopters for up to 21 new helicopters, with a commitment for the next-generation EC175 and as a launch customer for the newly-unveiled EC225e. The contract is worth around US$645 million, with aircraft delivery scheduled to commence in 2016.

LCI has also increased its AgustaWestland order book, with an order for a further 18 new helicopters worth over US$280 million. The contract, which was signed in Europe last week, comprises commitments for up to 14 AW139 intermediate helicopters and up to 4 AW189 twin-engine helicopters.

The orders, which were announced at this week’s 2014 HAI Heli-Expo in Anaheim, California, mark the latest stage in LCI’s growth as a leading helicopter lessor. LCI’s helicopter division was launched at the 2012 HAI Heli-Expo with a US$400m order for AgustaWestland helicopters, with the first five aircraft delivered in 2013, and an increased delivery flow from this year and onwards.

Earlier this year, KKR Financial Holdings agreed to invest more than $100 million in LCI’s helicopter division to tap growing oil and gas sector demand. Since its inception in 2004, LCI has acquired fixed wing and rotary aircraft with a combined value of approaching US$6 billion.

Crispin Maunder, Executive Chairman of LCI, commented: “Demand for helicopter leasing is going from strength to strength as operators realise the value and access to the latest technology that leasing unlocks. These new orders will help us meet that ever-growing demand, and we have plans for further order in the near future.”

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LCI, the aviation leasing arm of the Libra Group, has announced a further multiyear contract with AgustaWestland for up to a further 18 helicopters worth over US$280 million. The order comprises commitments for up to fourteen AW139 intermediate helicopters and up to an additional four AW189 twin-engine helicopters.

These helicopters, which will be used by LCI’s helicopter division to offer its customers modern aircraft ready for offshore transport, search and rescue, aero-medical transport and other missions, will be delivered between 2014 and 2018, should all options be taken. The total contract, signed in Europe, is valued at over US$280 million and is in addition to the existing $400m contract in existence between the two companies, signed in early 2012, which includes the new twin-engine AW169. The first five AW139s from the existing order were delivered in 2013, with an increased delivery flow from this year and onwards.

Crispin Maunder, Executive Chairman of LCI, commented: “We have great pleasure in strengthening further this partnership with AgustaWestland. Their helicopters are particularly well suited to the market and are proving to be very popular with our lessees for a variety of roles. In particular we are excited about the new super-medium category of helicopters and our endorsement of the AW189 with the follow-on order underscoring our intention to be a major player in this space.”

Daniele Romiti, Chief Executive Officer, AgustaWestland said: “We are very pleased to sign this latest contract with LCI which has become one of the leading helicopter leasing companies since establishing a helicopter division only two years ago. LCI’s order for more AW139 and AW189 helicopters highlights both their and the market’s recognition that AgustaWestland products offer the best combination of performance and operating costs, whilst providing the very latest safety features.”

The AW139, AW169 and AW189 new generation helicopters offer a commonality in design across the family. As well as possessing the same high performance flight characteristics and safety features, they share a common cockpit layout, design philosophy and maintenance concept that will allow more effective operations for customers operating helicopter fleets of more than one type.

A market leader, over 750 examples of the AW139 have been sold in more than 60 countries to over 200 customers for many roles including VIP/corporate transport, passenger transport, law enforcement, fire fighting, offshore transport, search and rescue, emergency medical service, disaster relief and maritime security. The AW189 was designed in response to the growing market demand for a versatile, affordable, multirole medium helicopter and is optimized for long-range missions with orders for 130 helicopters signed already.

Since its inception in 2004, LCI has acquired fixed wing and rotary aircraft with a value of around US$6 billion. With some of the world’s leading names in aviation amongst its lessee base, LCI is also a launch customer for the Bombardier CSeries with a US$1.4 billion order for up to forty aircraft. Its helicopter leasing division was established in 2012 with a US$400m order for AgustaWestland helicopters. More recently KKR Financial Holdings agreed to invest more than $100 million in LCI’s helicopter unit to tap growing demand from the oil and gas sector.

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LCI, the Libra Group’s aviation leasing arm, will acquire as many as 21 new Airbus Helicopters rotorcraft in a contract involving both the next-generation EC175 and the newly-unveiled EC225e. The total contract value is estimated in commercial terms to be around US$645 million with delivery scheduled to commence in 2016.

The major commitment was announced today at the 2014 Heli-Expo convention in Anaheim, California, marking LCI’s initial transaction with Airbus Helicopters. It involves up to 6 orders for the EC175, along with as many as 15 of the Super Puma family’s EC225e version when it becomes available.

“This is our first contract with Airbus Helicopters, and we are delighted to be entering into partnership with them,” said LCI Executive Chairman Crispin Maunder. “Airbus Helicopters has a world-renowned reputation in the industry, and the availability of these particular models will be very attractive to our expanding customer base as they continually demand the latest technology helicopters. We are very happy to support them by providing quality aircraft together with innovative financing.”

All of the ordered aircraft will be deployed among LCI’s global lessee base through its helicopter leasing division – which was established in early 2012 and has quickly became a major name in the sector.

“LCI’s order validates our high expectations for the future of the EC175, which is confirmed as a top choice among oil and gas operators,” added Airbus Helicopters President Guillaume Faury. “In addition, we couldn’t be happier having LCI as a launch customer for the EC225e – a helicopter we’ve developed to respond to operators’ requirements for extended-range missions, particularly in support of deep-water oil and gas airlift duties.”

As a member of Airbus Helicopters’ workhorse Super Puma family, the new twin-engine EC225e version announced today at Heli-Expo has enhanced capabilities that include more payload, an additional fuel tank for very long range flights, a new cabin layout for improved passenger comfort and new avionics to significantly increase pilots’ situational awareness while reducing workload.

The EC225e will be powered by new Turbomeca Makila 2B turboshaft engines for improved performance and a range-of-action extended to 180 nautical miles with 10 passengers. Incorporating a new combustion chamber and high-power turbine blades, the Makila 2B will enable takeoffs at the helicopter’s maximum all-up weight in CAT A conditions. Certification of the EC225e is targeted for late 2015, followed by the start-up of deliveries in mid-2016.
The LCI order for Airbus Helicopters’ EC175 expands the customer base for this twin-engine rotorcraft, which received European certification in January. As a versatile helicopter, it is capable of missions ranging from oil and gas, search and rescue, and emergency medical services to homeland security, police and corporate/business aviation. The EC175 can accommodate two pilots with up to18 passengers and a maximum weight of 7,500 kg. (16,535 lb.) in all configurations.
Incorporated in the EC175 is Airbus Helicopters’ new Helionix® avionics suite, which provides increased safety through reduced pilot workload, enhanced situational awareness, improved flight envelope protection and system redundancy.

Airbus Helicopters has committed significant resources to ensure optimized aircraft maturity and a successful service entry for the EC175, supported by a dedicated task force and tools that include validated support and services deliverables, along with the establishment of training capabilities. As part of this strategy, the company is locating Level D full-flight simulators and other training systems in France and the U.S.

About LCI (www.lciaviation.com) LCI is owned by Libra Group (www.libra.com), an international business group with 30 subsidiaries operating across five continents. Libra Group’s subsidiaries are primarily focused on aviation, shipping, hospitality, energy and real estate. Since its inception in 2004, LCI has acquired fixed wing and rotary aircraft with a value of around US$6 billion. LCI is also a launch customer for the Bombardier CSeries with a US$1.4 billion order for up to forty aircraft. Its helicopter leasing division was established in 2012 with a US$400m order for AgustaWestland helicopters. More recently KKR Financial Holdings agreed to invest more than $100 million in LCI’s helicopter unit to tap growing demand from the oil and gas sector.

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LCI, a Libra Group company, and KKR Financial Holdings LLC (NYSE: KFN) (“KFN”), a specialty finance company managed by a subsidiary of KKR & Co. L.P. (NYSE: KKR), today announced that they have entered into a definitive agreement under which KFN has agreed to invest in excess of $100 million in LCI Helicopters Ltd (“LCIH”), the helicopter leasing subsidiary of LCI, in exchange for a minority stake in LCIH’s common equity. The strategic investment will allow LCIH to grow its fleet significantly and advance its leadership position in the rapidly expanding helicopter leasing business.

“This transaction deepens our already significant commitment to the rotary wing sector of the aviation market,” said LCI CEO Michael Platt. “Our partnership with KKR Financial will provide us with future growth opportunities and further strengthen our position in the marketplace.”

A highly experienced aerospace leasing corporation founded in 2004, LCI entered the helicopter leasing business in February 2012 through LCIH and has since been very active, with a $400 million order for a fleet of modern, versatile AgustaWestland AW139, AW169 and AW189 helicopters. The helicopters are being delivered to LCIH over a five-year period and will be deployed to a range of offshore, search and rescue and other applications. The company intends to expand its fleet significantly with orders from other leading helicopter manufacturers.

To date, LCIH has supplied helicopters to several global operators, including Avincis Group, the world’s leading provider of mission critical services, Weststar Aviation Services, one of the largest providers of offshore helicopter transportation to oil and gas companies in the Southeast Asia region, and Thailand-based SFS Aviation. The Company’s aircraft are engaged in diverse applications, from oil exploration in the Gulf of Thailand to offshore services off the coast of Africa to crew transportation in the North Sea. LCIH has a robust pipeline both of lessees and additional helicopter orders that will be announced in 2014.

“We are pleased to be partnering with LCIH to help grow its helicopter leasing business,” said Craig J. Farr, CEO of KFN. “As a result of related experience through other KKR investments � both in the helicopter space and in the end-markets LCIH serves, such as offshore energy production �we believe the nascent helicopter leasing industry will offer attractive risk-adjusted returns to early entrants like LCIH in the years to come.”

Farr added, “With banks more focused on lending against short-lived liquid assets, we continue to see opportunities to put KFN’s long-term capital to work alongside proven specialty finance teams like LCIH management.”

Teneo Capital and Morgan Stanley & Co. LLC acted as financial advisors to LCI

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