Milestone Aviation Group Limited (Milestone), a helicopter leasing company and subsidiary of GECAS, announced a commitment letter with Bristow Group Inc. (Bristow), a provider of global industrial aviation services.
Under the agreement, Milestone is providing a $230 million secured term loan facility to a subsidiary of Bristow, secured by a pool of Bristow’s helicopter assets. “Bristow is a world leader in industrial aviation and our long-time partner, and this funding agreement symbolizes GE and Milestone’s confidence in the Bristow strategy and management team,” said Milestone President and Chief Executive Officer Daniel Rosenthal. “We take great pride in our ability to create innovative solutions to best serve the operators we work with, and as part of GE, we are very pleased that we can continue to be a key contributor of capital to helicopter operators. We understand the challenges that exist in the current environment, and we look forward to continuing to ensure the long-term success of the global helicopter industry.”
Fairfield, Connecticut-based General Electric Company (NYSE: GE) operates as an infrastructure and financial services company worldwide. GE is organized around a global exchange of knowledge, the “GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors.