17 January 2013
Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised CHC Helicopter on an operating lease facility of up to US$202m with Milestone Aviation, for up to 12 helicopters (including Sikorsky, Eurocopter and AgustaWestland helicopters), its third facility with Milestone.
The team, led by partner Nicola Davies, has completed the sale and leaseback of the first helicopters under this facility, which are being operated in the United Kingdom, Malaysia, Norway, Brazil and Australia. The teamis currently working on the lease of the next three helicopters, which are intended to operate in Thailand and the United Kingdom.
WFW also advised CHC on the buy-out of a number of the helicopters from their previous lessor owners, as well as on the leasing and security documentation required for the Milestone facility.
CHC Helicopter is the world’s largest helicopter services company specialising in transportation to offshore oil and gas platforms, and helicopter maintenance repair and overhaul. It is headquartered in Vancouver, Canada and operates more than 250 helicopters in over 30 countries around the world.
Milestone Aviation is based in the US and Ireland, and specialises in financing fixed wing aircraft and helicopters.
Lead partner Nicola Davies said: “We are delighted to have supported CHC on the conclusion of yet another new lease facility. CHC’s ability to continue to raise finance in such turbulent times demonstrates its standing as the world’s largest helicopter service company. Our support on this facility reinforces our continued commitment to, and long-standing relationship with, CHC (which is now into its ninth year) and the strength of our helicopters practice in our aviation sector capability. We look forward to continuing to work with CHC in the future.”