Milestone Aviation Group has signed lease agreements with Offshore Helicopter Services UK (OHS) for five Sikorsky S-92 helicopters. The agreements extend leases on three S-92s and the placement of two more, scheduled for delivery later this year. The additional S-92s are believed to be coming from those held in storage by Milestone. The oil- and gas-configured aircraft will support OHS’s North Sea offshore operations.
OHS managing director Paul Kelsall said the deal is part of the company’s “fleet strategy to meet increased demand from customers and improve airframe utilization” by phasing out older S-92s and replacing them with younger ones.
Shaun Roseveare, CEO of OHS parent company Ultimate Aviation, added that “investment in new aircraft is key to ensuring OHS remains a market leader for years to come. Our active support for this transaction is a sign of our confidence in the vision to grow the capabilities” in the North Sea market. Ultimate acquired OHS on April 3 after UK competition regulators forced CHC Helicopters to divest it in the wake of CHC's acquisition of Babcock’s offshore operations, formerly known as Bond Helicopters, in 2021.
AerCap unit Milestone provides operating leases, purchase/leasebacks, secured debt financing, and engine leasing and fleet advisory services to over 50 customers in more than 40 countries. Headquartered in Johannesburg, Ultimate offers aircraft charter, maintenance, and support worldwide.