Post Year: 2015

LCI, has concluded the sale-and-leaseback of a second Airbus H225 helicopter delivery to global helicopter operator, CHC Helicopter (“CHC”).

The financing of the Airbus H225 is the second of two aircraft which were acquired by CHC in 2014.

Valued in excess of $50 million, the sale-and-leaseback transactions are the first in what both LCIH and CHC hope to be a long-term partnership between the companies.

Crispin Maunder, LCI’s Executive Chairman, said: “We are delighted to forge this exciting and novel partnership with CHC which supports their strong worldwide customer base. Leasing provides a flexible and cost-effective means of replenishing and developing helicopter fleets, and we look forward to supporting CHC’s strategies and operations in the years ahead.”

The H225, built by Airbus Helicopters, is the latest development of the highly successful Super Puma family, and offers a higher payload–range than any other type in its category. Over 100 of this type have now been delivered to operators, and are deployed on a broad variety of missions in all regions of the world.

Lee Eckert, CHC’s Chief Financial Officer, said: “CHC is delighted to have entered into this new relationship with LCI. The provision of attractive and flexible leasing terms positions us to meet the forecasted long term demand from oil and gas customers while improving our capital efficiency.”

LCI is the aviation leasing arm of the Libra Group. Its helicopter division comprises a fleet of delivered and ordered helicopters approaching 90 new units, including the market-leading AgustaWestland AW139, and shortly to include the AW189 and AW169 helicopters.

Earlier this year LCI Helicopters committed to expansion of its fleet with a firm order for an additional 11 AgustaWestland aircraft valued at US$125 million. The company also announced placement of 10 new AgustaWestland AW139 helicopters for air ambulance and search and rescue utilization in Australia.

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LCI is to place a new AgustaWestland AW169 helicopter with leading German operator Heliservice International GmbH. It will be the first AW169 to be employed in support of its offshore operations.

LCI Helicopters is the launch customer for the AW169 and has a total of 12 of the innovative, new aircraft on order.

The AW169 will be delivered to Heliservice in the second half of 2016 and will be used to support their offshore operations in the North Sea. It joins two AgustaWestland AW139s already on lease from LCI, along with other smaller helicopter types.

The AW169 has been custom equipped to incorporate a dedicated offshore interior and is fully equipped for hoisting operations.

Crispin Maunder, Executive Chairman of LCI, says: “We’re delighted to be strengthening our existing partnership with Heliservice by introducing the innovative, new AW169 to their fleet alongside the AW139s we already lease to them. These modern helicopters are helping to ensure the efficiency of Heliservice’s operations.”

Nils Herrmann, Managing Director of Heliservice International GmbH, says: “We’re delighted to be extending our relationship with LCI Helicopters with the arrival of this new, state-of-the-art aircraft. Their responsive and innovative approach to leasing, coupled with their growing fleet of several different AgustaWestland helicopter types, makes them an ideal business partner.”

The AW169 is a versatile, new generation twin engine light intermediate category helicopter, which can accommodate up to ten passengers. The first all new aircraft in its weight category to enter the market in more than 30 years, the AW169 4.6 tonne is certified in accordance with EASA CS-29 / FAR Part 29 latest Amendments.

LCI Helicopters’ total fleet comprises 90 delivered and ordered helicopters, including the market-leading AgustaWestland AW139, AW169 and AW189 helicopters, and next generation Airbus Helicopters H175 and H225s.

LCI is the launch customer for both the AW169 and the H225e. This follows a firm order LCI Helicopters made in early February 2015 for an additional 11 AgustaWestland AW139, AW169 and AW189 aircraft valued at US$125 million.

LCI’s helicopters are currently in operation across four continents – Asia, Australasia, Africa and Europe.

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LCI, the aviation leasing arm of the Libra Group, has finalised two long-term debt facilities to support over US$200m of incremental fleet growth in Australia.

Westpac Banking Corporation will act as sole lender, security trustee and agent to support LCI’s recent multi-year agreement to lease four new AgustaWestland AW139 helicopters to Australia’s Westpac Rescue Helicopter Service.

The helicopters will be delivered in the second half of 2016 and, following fit-out for emergency medical service (EMS) operations, will be deployed in Northern New South Wales on contract to NSW Ambulance, on behalf of NSW Health within the Government of New South Wales.

The high-specification aircraft, including full medical and rescue equipment and winch, have been financed under a tripartite, 10-year arrangement with Westpac Banking Corporation, an existing financier of LCI and long-term naming rights sponsor of the helicopter operator.

LCI also recently concluded an agreement to lease six new AgustaWestland AW139 aircraft to Australian Helicopters Pty Ltd, a member of the Babcock Mission Critical Services Group. The aircraft will be progressively delivered to Australian Helicopters through 2015 and 2016 and, following arrival in Australia, will be modified for EMS operations.

Once deployed, they will be operated on behalf of Air Ambulance Victoria and in due course replace their older aircraft.  The aircraft will be financed through an innovative, 10-year facility that LCI has concluded with Westpac Banking Corporation, acting as security trustee, agent, lender and hedge counterparty and National Australia Bank, acting as lender and hedge counterparty.

Jaspal Jandu, Chief Financial Officer of LCI, says: “We are delighted that Westpac and National Australia Bank have underpinned our commitment to provide new, state-of-the-art helicopters to the emergency medical service sector in Australia.

“These long-term, multi-currency financings cover pre-delivery payments, fit-out costs and 10-year term loans, so are both comprehensive and bespoke. Both banks have handled them superbly and we look forward to working together with them in the future.”

Greg Hampton, Global Head, Asset Finance & Leasing at National Australia Bank, says: “We’re delighted to have helped finance the renewal of Air Ambulance Victoria’s fleet, enabling them to improve their operational efficiency with these new, state-of-the-art helicopters. We’re also proud to have played a key role in developing this innovative financing solution for LCI which supports their significant growth ambitions in the Asia Pacific region.”

LCI Helicopters’ total fleet is made up of 90 delivered and ordered helicopters, including the market-leading AgustaWestland AW139, AW169 and AW189 helicopters, and next generation Airbus Helicopters H175 and H225s. LCI is the launch customer for both the AW169 and the H225e. This follows a firm order LCI Helicopters made in early February 2015 for an additional 11 AgustaWestland AW139, AW169 and AW189 aircraft valued at US$125 million.

LCI’s helicopters are currently in operation across four continents – Asia, Australasia, Africa and Europe.

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LCI, the aviation leasing arm of the Libra Group, will be exhibiting at this year’s Helitech International 2015, Europe’s largest rotorcraft exhibition.

With 21 countries represented, Helitech International provides an opportunity for LCI to engage with customers and partners, and showcase the latest developments at the company which is taking delivery of a fleet of new AgustaWestland and Airbus helicopters.

Mike Platt, CEO of LCI, will be a key speaker at the Rotorcraft Business Leaders Forum at Helitech, which will discuss future issues facing the helicopter industry. A number of other senior LCI executives will also be present at the show, led by Executive Chairman Crispin Maunder, and including Angelo Raimondi and Ken Carter from the company’s advisory board.

Speaking about the show, Crispin Maunder said: “Helitech is an excellent platform to engage with current and prospective customers, OEMs and our partners in the helicopter industry.”

LCI Helicopters’ total fleet is made up of 90 delivered and ordered helicopters, including the market-leading AgustaWestland AW139, AW169 and AW189 helicopters, and next generation Airbus Helicopters H175 and H225s.

LCI is the launch customer for both the AW169 and the EC225e. This follows a firm order LCI Helicopters made in early February 2015 for an additional 11 AgustaWestland AW139, AW169 and AW189 aircraft valued at US$125 million.

LCI’s helicopters are currently in operation across four continents – Asia, Australasia, Africa and Europe.

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LCI, the aviation leasing arm of the Libra Group, has hired Malcolm MacGregor to the new role of Vice President Sales and Marketing, Americas. Mr MacGregor recently joined LCI with over 20 years’ experience in the aviation sector. He was previously Milestone Aviation Group’s Vice President of Sales – Europe, Middle East, India & Africa.

Prior to joining Milestone Aviation Group, he built a highly successful track record as a Regional Sales Manager at Sikorsky Aircraft Corporation. In his earlier career, Mr MacGregor was the owner and operator of North American Aviation, Connecticut’s largest flight training school, and a senior Captain with Atlantic Coast Airlines.

Michael Platt, CEO of LCI, says: “Malcolm’s proven track record in the leasing and wider aviation sector makes him an excellent addition to our team, and he will be play a crucial role in driving our sales and marketing activities in the Americas.”

The appointment of Mr MacGregor comes during a period of expansion for LCI and shortly after it recruited Rory McQueen to the new position of Vice President, Capital Markets.

LCI Helicopters’ total fleet is made up of 90 delivered and ordered helicopters, including the market-leading AgustaWestland AW139, AW169 and AW189 helicopters, and next generation Airbus Helicopters H175 and H225s. LCI is the launch customer for both the AW169 and the H225e. This follows a firm order LCI Helicopters made in early February 2015 for an additional 11 AgustaWestland AW139, AW169 and AW189 aircraft valued at US$125 million.

LCI’s helicopters are currently in operation across four continents – Asia, Australasia, Africa and Europe.

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LCI, the aviation leasing arm of the Libra Group, has appointed Rory McQueen to the newly-created role of Vice President, Capital Markets.

Mr McQueen, 46, joins LCI with 25 years’ experience in the aviation finance sector, and was previously Head of Treasury at the global business aviation company VistaJet for seven years. During that time he arranged over $3.5bn in aircraft and PDP financing with a variety of institutions including ECAs, banks and capital markets, and played an integral role in the issuance of VistaJet’s $300m unsecured bond.

He was also responsible for arranging and structuring the financing of Vistajet’s fleet of Bombardier business aircraft, which grew from 11 aircraft to over 50 aircraft during his tenure. Prior to joining VistaJet, McQueen held positions in the project and structured finance teams in both the rail and business aircraft divisions of Bombardier.
This followed a successful 14-year career with the Bank of Scotland Group where he held a succession of aviation financing roles, culminating in the position of Director Business Direct – Aircraft Finance.

LCI CEO, Michael Platt, says: “With his extensive background in aircraft finance, Rory is an excellent addition to the LCI team and he will play an integral role in the continued growth of our business as new aircraft are financed and delivered in the next few years.”

The appointment of Mr McQueen, who holds a Private Pilot’s Licence for both fixed wing and rotary aircraft, comes at a time of sustained growth for LCI. In late 2014, they successfully closed a five-year, US$325 million asset–backed credit facility for its helicopter-leasing arm, LCI Helicopters.

LCI Helicopters’ total fleet is made up of 90 delivered and ordered helicopters, including the market-leading AgustaWestland AW139, AW169 and AW189 helicopters, and next generation Airbus Helicopters H175 and H225s. LCI is the launch customer for both the AW169 and the EC225e. This follows a firm order LCI Helicopters made in early February 2015 for an additional 11 AgustaWestland AW139, AW169 and AW189 aircraft valued at US$125 million.

LCI’s helicopters are currently in operation across four continents – Asia, Australasia, Africa and Europe.

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LCI, the aviation leasing arm of the Libra Group, has completed the world’s first secured helicopter PDP (“Pre-Delivery Payment”) funding under a unique Islamic finance structure. The innovative multi-year financing arrangement by LCI’s helicopter leasing division, LCI Helicopters, initially covers over US$250 million worth of Airbus Helicopters assets.

Bank of London and the Middle East plc (“BLME”) was the original Islamic facility participant, under a master Murabaha facility agreement. Lloyds Bank Plc was an original lender under a conventional facility agreement and mandated lead arranger, security agent and intercreditor agent for both facilities. The arrangement covers the H175 – Airbus Helicopters’ new-generation medium-sized rotorcraft. This 7-ton class helicopter is certified in accordance with the latest and most demanding regulatory requirements.

It also covers the H225e, for which LCI Helicopters is the launch customer. This aircraft is the latest evolution of the EC225 which brings significant benefits in terms of operating range, payload, avionics and flight management systems.

Jaspal Jandu, Chief Financial Officer of LCI, says: “As a major lessor in the helicopter marketplace, we are continually looking for new and innovative means of financing. This agreement is just that, and is also an excellent template for future financing deals.”

Jean-Michel Cerf, Head of Customer Financing at Airbus Helicopters, says: “LCI is a growing customer of Airbus Helicopters, and we’re delighted to be partnering with them on this innovative financing agreement.”

Simon Lefevre, Director, Leasing at BLME, says: “As the dynamic helicopter leasing marketplace continues to expand rapidly, new sources and types of finance will be essential, and we’re delighted to be debuting this Islamic-structured arrangement with LCI.”

Robert King, Director, Corporate Asset Finance at Lloyds Bank Plc says: “We have been delighted to lead this transaction which has leveraged on our knowledge of the helicopter leasing sector and provides to LCI a flexible and scalable helicopter financing solution.”

Patrick Sherrington, Head of Corporate Asset Finance at Lloyds Bank Plc, says: “The helicopter leasing market is going from strength to strength and we are delighted to have met LCI’s requirements through this innovative solution.”

LCI Helicopters’ total fleet is made up of 90 delivered and ordered helicopters, including the market-leading AgustaWestland AW139, AW169 and AW189 helicopters, and next generation Airbus Helicopters H175 and H225e. LCI is the launch customer for both the AW169 and the H225e. LCI’s helicopters are currently in operation across four continents – Asia, Australasia, Africa and Europe.

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LCI Helicopters touches down at the 2015 HAI Heli-Expo with new lessee customer commitments and expansions of its helicopter fleet to meet sustained growth in demand. Further announcements are planned for this week in Orlando, with the company at HAI Stand 4604.

In recent days, the aviation leasing arm of the Libra Group has concluded agreements to place 10 new AgustaWestland AW139 aircraft in Australia – 6 with Australian Helicopters where they will operate with Air Ambulance Victoria and 4 with Westpac Rescue which will be deployed with NSW Ambulance.

These agreements come shortly after LCI’s commitment to expand its fleet further with a firm order in early February for an additional 11 AgustaWestland aircraft valued at US$125 million (€110 million). The new aircraft, which are made up of a mix of AW139, AW169 and AW189 aircraft, will be delivered between 2015 and 2016.

LCI’s helicopters are already in service supporting deep sea oil and gas production, along with aero-medical transport and search & rescue roles. Mike Platt, CEO of LCI, says: “Growing numbers of helicopter operators across the globe are turning to leasing as a cost-effective, cash-efficient means of updating their fleets with the newest aircraft available in the marketplace.

“The versatility of our growing fleet of new AgustaWestland and Airbus helicopters is making them popular with operators from a number of sectors, in particular offshore energy production and emergency medical services where we are seeing good long-term growth prospects.”

LCI Helicopters’ fleet is made up of 90 delivered and ordered helicopters, including the market-leading AgustaWestland AW139 and AW189 helicopters, and LCI will shortly be the launch customer for the new AW169.

LCI announced almost US$1 billion in new orders at the 2014 HAI Heli-Expo and has also attracted investment of more than US$100 million from KKR Financial Holdings, LLC, to address growing demand from the oil and gas sector, as well as search and rescue and air ambulance services. Since its inception in 2004, the company has acquired fixed wing and rotary aircraft with a combined value of approaching US$6 billion.

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LCI Helicopters, the helicopter leasing arm of the Libra Group, has entered into an agreement to lease a second new AgustaWestland AW139 to HeliService international, a leading provider of offshore services in the North Sea and Baltic regions, as it continues with its expansion plans.

The new aircraft will be delivered in March and will join HeliService’s first AW139 delivered in November last year, also on lease from LCI. Both helicopters have been built to HeliService’s exacting specification, including dual hoists, and will be operated primarily in support of the growing offshore wind industry.

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 pleased to be able to react quickly to HeliService’s need for additional capacity as they expand their operations in Northern Germany. Their focus on the wind farm industry provides LCI with further diversification within its lease portfolio.”

Eberhard Herr, Managing Director at HeliService international GmbH says: “Working with the LCI team has been a very positive experience, both in the smooth delivery of our first aircraft and now as they support our continued growth.

“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 our company.”

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, last 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 HAI Heli-Expo Orlando. Executive Chairman, Crispin Maunder and

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LCI Helicopters has entered into an agreement with SQN Capital Management, LLC (SQN), an independent asset manager headquartered in New York City, to manage a fleet of seven recently acquired helicopters.

LCI Helicopters, the helicopter leasing arm of the Libra Group, will offer a range of services to SQN including asset management, insurance, rent collection, maintenance oversight, inspections, and remarketing services.

Mike Platt, CEO of LCI, says: “We are very pleased to have the opportunity to offer SQN Capital Management the same high quality professional management services to manage their fleet as we employ for our own.”

SQN is also a registered investment advisor to institutional investors, specialising in alternative asset management. It provides investment advisory and portfolio management services to multiple private offerings, public direct participation programs, and a fund listed on the Main Market of the London Stock Exchange.

Michael Miroshnikov, Executive Vice President of SQN Capital, added: “LCI is a well-respected proven leader in aircraft asset management and we are pleased to place our assets in their capable hands to maintain and enhance the value of our fleet.”

LCI’s helicopter division comprises a fleet of 90 delivered and ordered helicopters, including the market-leading AgustaWestland AW139 and AW189 helicopters, and will shortly be the launch customer for the new AW169. LCI is also the lead lessor for the Airbus Helicopters EC175 and the recently announced Airbus EC225e, for which it is the launch customer.

LCI announced almost US$1 billion in new orders at the 2014 HAI Heli-Expo 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, the company has acquired fixed wing and rotary aircraft with a combined value of approaching US$6 billion.

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