Bell Helicopter & Milestone Aviation Group Sign LOI for 20 Bell 525 Relentless As Aircraft Continues to Gain Traction across ...
16 June 2015 - 12:00AM
Business Wire
Bell Helicopter, a Textron Inc. (NYSE: TXT) company, and
Milestone Aviation Group, a GE Capital Aviation Services company
announced today plans to move forward with a letter of intent (LOI)
to acquire 20 Bell 525 Relentless helicopters. These aircraft will
serve a variety of roles with Milestone’s lessees around the world,
including oil and gas, emergency medical service, search and
rescue, and utility opportunities. Delivery of aircraft to
Milestone is expected to begin in late 2017.
“We are very pleased to announce our first order with Bell
Helicopter,” said Milestone’s Chairman, Richard Santulli. “With the
525, our customers will benefit from the newest fly-by-wire
technology and its mission versatility.”
“Milestone is committed to building long-term relationships with
industry leaders that deliver value for our customers,” said Daniel
Rosenthal, Milestone’s President. “By securing future delivery
positions for the Bell 525, we are continuing to demonstrate our
strong commitment to that goal.”
“We are thrilled to expand our relationship with Milestone by
signing this agreement. Milestone Aviation, owns one of the world’s
largest commercial helicopter fleets and we are delighted they have
placed their trust in this aircraft,” said President and CEO of
Bell Helicopter, John Garrison. “As the first helicopter to define
the super-medium class, the Bell 525 provides Milestone with an
aircraft able to perform a diverse set of missions in the most
demanding conditions.”
The Bell 525 is the world’s first fly-by-wire commercial
helicopter, designed to operate safely and reliably in austere
environments with decreased pilot workload. The aircraft integrates
critical systems data to be easily accessible at-a-glance with the
first fully-integrated touch screen flight deck designed for
helicopters, the Garmin G5000H®. Best-in-class payload, cabin,
cargo volumes, comfort and egress complement the technological
advancements on the aircraft. The Bell 525 is being tested in Bell
Helicopter’s fully integrated System Integration Lab (SIL),
allowing for virtual flight testing of the Bell 525 before first
flight, which is scheduled in the coming weeks.
About Milestone Aviation Group
Milestone Aviation Group, a GE Capital Aviation Services
Company, is the world’s leading commercial helicopter leasing
company. Milestone has a fleet of 187 helicopters worth US $3.2
billion and supports 33 operators in 26 countries on six
continents. The company has a forward order book of 117 firm and
option aircraft with an estimated aggregate purchase price of US
$2.4 billion. These near-term delivery positions of in-demand
helicopters are made available for lease globally. Milestone
partners with helicopter operators worldwide and supports them
through lease financing. The company provides financing for
helicopters serving a variety of industries, including offshore oil
and gas, search and rescue, emergency medical services, police
surveillance, mining and other utility missions.
www.milestoneaviation.com
About GE Capital Aviation Services
(GECAS)
GE Capital Aviation Services (GECAS) is a world leader in
aviation leasing and financing. With over 45 years of experience,
GECAS offers a wide range of aircraft types including narrowbodies,
widebodies, regional jets/props, freighters and helicopters, plus
multiple financing products and services including operating
leases, purchase/leasebacks, secured debt financing, capital
markets, engine leasing, airframe parts management and
airport/airline consulting. GECAS owns or services a fleet of over
2,200 aircraft (1,900 fixed wing/300 rotary wing) in operation or
on order, plus provides loans collateralized on an additional 400
aircraft. GECAS serves over 270 customers in over 75 countries from
a network of 24 offices. www.gecas.com
GE (NYSE: GE) imagines things others don’t, builds things others
can’t and delivers outcomes that make the world work better. GE
brings together the physical and digital worlds in ways no other
company can. In its labs and factories and on the ground with
customers, GE is inventing the next industrial era to move, power,
build and cure the world. www.ge.com
About Bell Helicopter
Bell Helicopter, a wholly owned subsidiary of Textron Inc., is
an industry-leading producer of commercial and military, manned and
unmanned vertical-lift aircraft and the pioneer of the
revolutionary tiltrotor aircraft. Globally recognized for
world-class customer service, innovation and superior quality,
Bell's global workforce serves customers flying Bell aircraft in
more than 120 countries.
About Textron Inc.
Textron Inc. is a multi-industry company that leverages its
global network of aircraft, defense, industrial and finance
businesses to provide customers with innovative solutions and
services. Textron is known around the world for its powerful brands
such as Bell Helicopter, Cessna, Beechcraft, Hawker, Jacobsen,
Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. For more
information, visit www.textron.com.
Certain statements in this press release are forward-looking
statements which may project revenues or describe strategies,
goals, outlook or other non-historical matters; these statements
speak only as of the date on which they are made, and we undertake
no obligation to update or revise any forward-looking statements.
These statements are subject to known and unknown risks,
uncertainties, and other factors that may cause our actual results
to differ materially from those expressed or implied by such
forward-looking statements, including, but not limited to the
efficacy of research and development investments to develop new
products or unanticipated expenses in connection with the launching
of significant new products or programs; the timing of our new
product launches or certifications of our new aircraft products;
our ability to keep pace with our competitors in the introduction
of new products and upgrades with features and technologies desired
by our customers; changes in government regulations or
policies on the export and import of our products; volatility in
the global economy or changes in worldwide political conditions
that adversely impact demand for our products; performance issues
with key suppliers or subcontractors; difficult conditions in the
financial markets which may adversely impact our customers’ ability
to fund or finance purchases of our products; continued demand
softness or volatility in the markets in which we do business; and
changes in aircraft delivery schedules or cancellations or
deferrals of orders.
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