Waypoint to lease helicopters to oil and gas operators in Africa and Asia

October 13, 2016

Irish-based lessor announces two separate deals for former CHC craft

The Irish Times

By Barry O’Halloran

Irish-based Waypoint Leasing has agreed two deals to lease helicopters that formerly belonged to troubled operator, CHC, to separate companies working in the oil and gas industry.

Waypoint said on Tuesday that it has agreed to provide one Leonardo AW139 craft to HNZ Group, which will be used to support oil and gas operations in Asia.

The company is also providing another Leonardo AW139 to Heliconia, which will use the craft to service the oil and gas industry in north Africa.

Total assets

Limerick- and Connecticut-based Waypoint has a fleet of more than 135 helicopters leased to 18 customers in 28 countries, amounting to total assets of $1.6 billion.

HNZ provides helicopter transport to industries in Canada, New Zealand, Asia, Australia and Antarctica. Heliconia operates in north and sub-Saharan Africa.

California headquartered CHC sought Chapter 11 bankruptcy protection from the US courts earlier this year to all the company to restructure its business.

It provided helicopters for a range of services, including search and rescue, emergency medical transport and maintenance and overhaul.