Milestone Aviation Group, a subsidiary of GE Capital Aviation Services, is the first global aircraft operating lease company focused exclusively on the helicopter market. Milestone's offers a number of financial services to operators in 25 countries on six continents, including operational leasing, debt solutions, short-term leasing options, and long-term asset management programs. Headquartered in Dublin, Ireland, Milestone has their own additional operations in Columbus, Ohio, as well as GECAS offices around the globe. Milestone currently touts a fleet of approximately 240 helicopters used in the offshore oil and gas industries, search and rescue, emergency medical services, police surveillance, mining, and other utility missions.
History
Milestone Aviation Group was founded in August 2010 by Richard Santulli. Santulli has nearly 40 years of experience in helicopters, private jets and finance industries. He is known for inventing the fractional jet ownership industry and growing NetJets into a multinational corporation. Milestone is based in Dublin, Ireland, where the company can benefit from Ireland’s skill set and tax infrastructure. After the late-2000s economic crisis that broke some of the world’s biggest financial institutions, helicopter operators lacked the access to capital needed to modernize and invest in new equipment demanded by clients. Milestone Aviation emerged in the helicopter industry as an alternative financing option to address this underserved market niche. In June 2015, the acquisition of Milestone Aviation by GE Capital Aviation Services saw the long-time aviation financier move into helicopter finance and leasing for the first time.
Corporate affairs
The company is run by a board of directors made up of a small number of shareholders and company members. Richard Santulli, founder and former chair and CEO of NetJets, serves as chairman of Milestone’s board of directors. Brian Humphries, president and CEO of the European Business Aviation Association, also serves on Milestone’s advisory board. Santulli brought members of the NetJets management team with him to head Milestone. Currently, Daniel Rosenthal serves as Milestone's President and CEO.
Financial
Milestone Aviation Group secured $500 million of equity capital commitments to launch its business. U.S. middle-market private equity firmThe Jordan Company led the investor team, in partnership with Nautic Partners. Since launching in August 2010, Milestone Aviation has leased more than 40 aircraft. Some of Milestone’s most notable deals include an order for sixteen EC225s and three Sikorsky S-92s, which join a fleet of seven S-76C++ and four additional S-92s. In 2012, Milestone agreed with Bristow Group Inc. to lease five helicopters including two EC-225s and three S-92s, estimated value is $139 million. In its first year of operation, Milestone closed deals with Aeroservicios Especializados S.A. de C.V., CareFlite, Global Vectra Helicorp, Helijet International Inc., Omni Taxi Aereo, and Inaer. The company currently has an asset portfolio representing more than $500 million in financing commitments and holds leases with three of the four largest global helicopter operators, including Bristow, CHC and Inaer.
