Pratt & Whitney Canada (P&WC), a United Technologies Corporation company
(NYSE:UTX), and Milestone Aviation Group, a global leader in helicopter
leasing, today announced a US$ 75 million, 15-year agreement under which
P&WC will offer its Flexible Turboshaft Engine Fleet Management program
to Milestone customers.
The agreement, signed today at HAI Heli-Expo, will provide P&WC’s
customized engine maintenance support to helicopter operators worldwide
leasing through Milestone. Initially 25 helicopters with P&WC PT6C-67C
engines will be covered under the fleet management program with the
intent to expand the scope to include PW210S, PW210A, PT6C-67E,
PT6B-37A, PT6T and PW207C engine models in the future.
“With more than 3,700 P&WC-powered helicopters flying globally, the
helicopter market is a vital part of our portfolio and effectively
supporting the needs of these operators is paramount,” said John Di
Bert, Vice President, Customer Service, P&WC. “We are particularly
excited to join forces with Milestone – a market leader that leverages
both its scale and its deep operating expertise to provide its customers
with unique benefits. Together, we will deliver a fleet management
program that is tailored specifically for individual operators and
provides the peace of mind and predictability of guaranteeed future
maintenance costs.”
The engine fleet management program will also offer helicopter operators
who lease through Milestone a turnkey contractual framework that easily
facilitates enrollment.
“The agreement to deliver P&WC’s fleet management program to helicopter
lessees is a testament to our mission to provide unique solutions to our
customers that help preserve their capital, reduce their risk and
improve their cash flow,” said Matthew Harris, Chief Operating Officer,
Milestone Aviation Group. “Pratt & Whitney Canada shares our passion for
delivering exceptional customer service. Backed by their 40 years of
Turboshaft engine expertise, we have created a flexible offering that
best meets the support requirements of the growing number of operators
benefiting from helicopter leasing."
The longstanding relationship between P&WC and Milestone, which started
with the first contracted PW206C in 2010, has expanded to include more
than 160 P&WC engines across all variants.
About Pratt & Whitney Canada (P&WC)
Founded in 1928 and a global leader in aerospace, P&WC is shaping the
future of aviation with dependable, high-technology engines. Based in
Longueuil, Quebec (Canada), P&WC is a wholly owned subsidiary of United
Technologies Corp. (UTC). UTC is a diversified company that provides a
broad range of high-technology products and services to the global
aerospace and building systems industries.
About Milestone Aviation Group
Milestone Aviation Group is the global leader in helicopter leasing.
Since launching in August 2010, and as of December 31, 2013, Milestone
has acquired 143 aircraft valued at over US$ 2.2 billion and closed
leases with 26 operators in over 20 countries on six continents. The
company has a forward order book of over 130 firm and option aircraft
valued at over US$ 3.0 billion. These delivery positions of in-demand
helicopters are made available for lease globally. Milestone partners
with helicopter operators worldwide and supports them through 100 per
cent operating 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. Further information is available at www.milestoneaviation.com.
This press release contains forward‐looking statements. Forward‐looking
statements involve uncertainties, risks and assumptions, since these
statements include information concerning Milestone’s possible or
assumed future results or performance, operations, business strategies,
financing plans and potential growth opportunities. Forward‐looking
statements speak only as of the date they were made, and Milestone
undertakes no obligation to update publicly or to revise any
forward‐looking statements because of new information, future events or
other factors. In light of the risks and uncertainties described above,
the forward‐looking events and circumstances discussed herein might not
occur and are not guarantees of future performance. Milestone’s actual
results and performance could differ substantially from those
anticipated in its forward‐looking statements.
Copyright Business Wire 2014