LCI to Manage Helicopters for SQN Capital Management

SQN Capital Management has contracted leasing group LCI Helicopters to manage a fleet of seven recently-acquired rotorcraft. LCI will handle asset management, insurance, rent collection, maintenance oversight, aircraft inspections and remarketing services for SQN, which supports and advises institutional investors on asset management.

The exact types of helicopter covered by the agreement have not been disclosed, but they are all twin-engine models. The aircraft will be operated by AAR Corp. and Erickson.

“LCI is a well-respected proven leader in aircraft asset management and we are pleased to place our assets in their capable hands to maintain and enhance the value of our fleet,” SQN Capital executive vice president Michael Miroshnikov. LCI has 90 helicopters now under lease or due for delivery.

Separately, LCI has agreed to lease a second AgustaWestland AW139 to HeliService International, an offshore service provider in the North Sea and Baltic Sea. Under a deal signed today, the aircraft will be delivered during March, joining another AW139 that entered service in November 2014.