Precision Aviation Group to acquire PTB Group for an undisclosed sum

By BusinessNo Comments

Precision Aviation Group, Inc. says that it has entered into a definitive agreement to acquire PT6 and TPE331 engine MRO specialists PTB Group. The PTB Group includes Pacific Turbine USA, Pacific Turbine Brisbane and Pacific Turbine leasing as well as Sydney based Australia and International Air Parts. “We are excited about adding PTB to the Precision Aviation Group of Companies.  The addit

ion of PTB increases PAG’s repair stations to 20 worldwide, expands our Engine Services Division with the addition of the PT6 and TPE331 engines, and significantly enlarges our Supply Chain Services business.  Stephen Smith and his team – like PAG – are focused on exceptional customer service and exceeding customer expectations – we look forward to this partnership,” said David Mast, President and CEO of PAG.

 While agreed in principle the agreement remains subject to shareholder approval and is currently scheduled to close during 4th quarter of 2022.

 

Leonardo underlines ‘commitment to aerospace in the south west of England’

By BusinessNo Comments

Leonardo is now an anchor tenant at the new aerospace centre iAero, located next to the company’s site in Yeovil, Somerset – the ‘Home of British Helicopters’. This tenancy highlights the company’s continued commitment to aerospace innovation in the region and beyond.

The iAero innovation centre in Yeovil, which opened its doors in February 2022, is a collaboration between Somerset County Council, the Heart of the South West Local Enterprise Partnership and Leonardo Helicopters.

A Leonardo team has now taken residence in the modern innovation hub with a primary focus on aircraft autonomy, electrical systems, and sustainable VTOL (Vertical Take-Off and Landing) technologies.

Adam Clarke, MD of Leonardo Helicopters UK, commented: “This tenancy will further stimulate, significant investment and higher-value jobs within Somerset. The iAero centre marks the next frontier for the aerospace community in Somerset. The freedom to explore, experiment, and engineer at the centre will ensure the region remains at the cutting-edge of innovative flight technologies”.

 

CHC completes US$500 million recapitalisation

By BusinessNo Comments

CHC Group LLC (CHC), has completed a $500 million recapitalisation transaction designed to significantly reduce its funded debt obligations. The core of the recapitalisation was the agreement by a significant number of the company’s exsisting debt and equity holders to provide over $100 million in new money and liquidity enhancing commitments.

The first tranche is $60 million in initial funding enhanced by a further available funds commitment of $30 million with the remaining $10 million coming in the form of adjustments to the CHC’s aircraft financing facilities. Commenting on the announcement CHC Group CEO, David Balvec said “Today marks a significant, positive step forward for CHC providing a clear path to a significantly reduced debt burden for the company which will benefit our customers, suppliers, and employees. Our enhanced balance sheet will provide us greater operating flexibility to meet the rapidly changing rotary wing aviation market.”

Hill Helicopters predicts mid-2024 for first HX50 delivery

By BusinessNo Comments

Speaking at a gathering of HX50 deposit holders and the media, Hill Helicopters founder Dr Jason Hill said that the company expected to have the first prototype HX50 completed in between March and June of next year with it’s first flight taking place “within six months of that”. He assured investors that the certification process would be completed and the first delivery would take place “in the middle of 2024”. A slip of about a year compared with earlier predictions.

ANAC grants STC for Foresight MX

By BusinessNo Comments

The Agência Nacional de Aviação Civil  do Brasil (ANAC) has granted a Supplemental Type Certificate (STC) which is based on the earlier US FAA STC allows GPMS’ Foresight MX HUMS to be fitted to Airbus H125/AS350B3 helicopters. Helisul Aviation assisted in the certification and is the first Brazilian customer to implement Foresight’s advanced HUMS. “We are excited to have worked with a great partner like Helisul to achieve this certification,” said Todd Powers, GPMS VP and Head of Sales. “Thanks to their help, H125 operators in Brazil can now install and utilize Foresight’s comprehensive and predictive HUMS capabilities. Brazil has a large number of H125/AS350 operators and this STC is a great first step to bringing the Foresight HUMS system to operators in Brazil and throughout South America.” Luis Cravo, Helisul Technical Director, explained that this was an important project for the company. “We were able to work very closely with the GPMS team during the STC process and learned a lot about the capabilities of the Foresight system. The H125 is a workhorse in our fleet and performs a variety of missions. Using Foresight on this platform is seen as an investment because it will help us increase availability, lower maintenance costs, and, of course, improve the operational safety of these aircraft”.

HeliService wins TenneT contract to provide Offshore Wind support

By BusinessNo Comments

Germany based HeliService has secured the contract to provide support to offshore wind operators TenneT. The successful bid will see Heliservice provide on demand support to construction and installation operations as well as maintenance and repair services. The contract is scheduled to commence on 1 January 2023 and continue for until March 2025 with options to extend for up to four years beyond the initial term.

This contract is the second big offshore support the company has won this year. In April, HeliService was awarded support contracts for the US South Fork, Revolution and Sunrise wind projects operated by Orsted and Eversource.

Bristow completes acquisition of British International

By BusinessNo Comments

Bristow Group have announced that it has completed its acquisition of British International Helicopter Services Limited (“BIH”) effective August 2, 2022, further enhancing its leading global Government Services offering.

Bristow will integrate BIH into its U.K. operations, where BIH will adopt the Bristow name and brand throughout its operations. BIH currently operates a fleet of two AW189 SAR-configured helicopters, three S61 helicopters, and one AS365 helicopter, performing various passenger and freight transport as well as hoist operations. “This acquisition further enhances our government services business, and we welcome our new, highly capable and experienced team members into the Bristow family,” said Chris Bradshaw, President and CEO of Bristow Group. “We will now build off BIH’s longstanding history and strong relationships with the U.K. Ministry of Defence and will continue providing safe and reliable service to both military and civilian markets.”

Angola’s Son Air orders two AW139s for oil expro support ops

By BusinessNo Comments

Leonardo report that the aviation subsidiary of the Angolan national oil company Sonangol, SonAir has placed an order for two AW139s to support its exploration and production operations. As part of the order SonAir will take a support and training package as well as an undisclosed number of options for further aircraft. Delivery of the first two aircraft, which form the first element of SonAir’s fleet renewal programme, is expected in the first quarter of next year.

 

 

LCI order up to six H175s in deal valued at US$125m

By BusinessNo Comments

Lessor LCI has placed an order for up to six H175s from Airbus in a deal valued in excess of US$125m. The order is for to firm orders with the aircraft due for delivery in late 2023 and options for a further four of the super medium helicopters and is in addition to LCI’s earlier H175 order. LCI’s fleet currently includes around 50 Airbus helicopters and fixed wing aircraft. They are deployed by 14 operators in 10 countries across the globe on a range of missions including emergency medical services, search and rescue and offshore wind.
Commenting on the order LCI CEO Jaspal Jandu said: “The Airbus H175 is a versatile, multi-purpose helicopter and this order will help to maintain the breadth of LCI’s product offering. This latest chapter in our partnership is an important element of our long-term growth strategy and demonstrates our confidence in the helicopter leasing market.” Meanwhile Bruno Even Airbus Helicopters CEO noted that the order “demonstrates the strength of the market and its post pandemic recovery”.

COHC orders four AW139 helicopters for offshore operations

By BusinessNo Comments

China’s CITIC Offshore Helicopter Company has ordered four AW139s in offshore operations configuration from Leonardo. Deliveries, which will carried out in Q4 this year and competed by the middle of 2023 will expand the COHC’s Leonardo fleet to 10 aircraft, eight 139s, a single 169 and a AW109 Power. More than 40 AW139s have been delivered to Chinese operators in a variety of sectors.