Monaco-based Avinco Helicopters (Booth 10931), a specialist in helicopter sales, acquisitions, trading and remarketing, reported that it logged 27 helicopter transactions in 2016, along with a large, “unprecedented” repossession contract involving 21 Airbus H225s and an EC155.
Revealing its 2016 annual results, the company said the 27 transactions involved a mix of light, medium and heavy machines from several manufacturers, worth a total of $54 million. Half the transactions involved moving the assets from one continent to another, and half the transactions also included adapting the aircraft to a different mission type for the buyer.
Three of the 27 transactions were originated by Avinco’s New York-based U.S. subsidiary, which it established in mid-2016. The last of these was a Monaco-based VIP Mercedes EC145 that was sold into the U.S. for HEMS missions, said the company.
The repossession contract required Avinco to recover, store, manage and remarket the aircraft on behalf of a consortium of international banks along with Coface, France’s export credit agency. The work started in mid-2016 with all the helicopters now having been recovered from various areas globally, then stored in a central location in Europe. The contract also includes technical management and remarketing.
Avinco CEO Francois Gautier said, “There is a healthy liquidity for single-engine helicopters in most parts of the world, and demand remains fairly strong in EMS. Finding a home for heavy machines, even for a short lease, is harder, and 2017 will see overcapacity in heavy machines with uncertain prospects for both AH225s and [Sikorsky] S-92s. This may impact overall market confidence.”
Founded in 2003, Avinco has bases in Monaco, Dublin, New York and Singapore and also has a line of business in large commercial aircraft lease management, with a portfolio of 14 leased aircraft. It has also placed more than 140 commercial jets.
Gautier concluded, “Fundamentally, Avinco’s approach to the market remains unchanged. In spite of the ongoing downturn in oil-and-gas, Chapter 11 issues with North American operators and economic uncertainties in Europe and the U.S., we continue to identify opportunities where they lie in the market. Our success is mainly due to our international presence and long-standing track record.”