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Milestone Aviation Expands; GE Acquisition Completed

March 03, 2015, 06:53 AM
Filed Under: Aircraft

Milestone Aviation Group, a GE Capital Aviation Services company and the global leader in helicopter leasing announced today at Helicopter Association International’s Heli-Expo that the company is expanding its international presence into three new regions – Asia, South America and the Middle East/Africa – while also growing its European staffing.

Milestone will be opening offices this year in Singapore; Sao Paulo, Brazil; and the United Arab Emirates, while continuing to grow its team in Europe. The company plans to add over 20 employees in the near term with a focus on increasing its global marketing efforts and better serving its customers. This global expansion is consistent with GE Capital’s growth strategy. The company currently serves its clients globally from its existing offices in Ireland and the United States.

“Milestone continues to lead the helicopter leasing industry by remaining steadfast in our commitment to customers and partners, and by offering the most innovative product solutions and services in the world,” said Milestone President Daniel Rosenthal. “By investing in our team and enhancing our global reach, we will be able to better serve our existing customers around the world, grow in new geographies and forge relationships with new customers providing mission-critical services to emergency medical services (EMS), search and rescue (SAR), and other utility and government missions, as well as offshore oil and gas.”

In addition to its global expansion, Milestone announced that with the successful completion of its acquisition by GE Capital Aviation Services in January, it repaid the overwhelming majority of its outstanding debt. Going forward, Milestone will largely be funded by GE intercompany sources, giving the company increased financial strength, flexibility and enhanced customer service capability as it expands globally.

“By paying down substantially all of our external debt and with the strength of the GE balance sheet behind us, Milestone will have a greater capability to capitalize on opportunities in the market and better serve our customers around the world,” said Milestone Chief Financial Officer Colin Golden.

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