Charles Alcock is managing editor of the AIN Media Group, having rejoined the company in 2019. He has been an aviation journalist since 1986, and previously worked for AIN from 1990 to 2017, most recently as editor-in-chief. His main focus is on covering new aviation technology and business models, as well as international news.
Having been raised in the London area, Alcock studied at the University of Manchester in the UK and earned an honors degree in Politics and Modern History. He speaks English and French, and some German.

Managing Editor

Charles Alcock

<a href="http://www.bjtonline.com/s/article/former-netjets-ceo-back-in-aviation-2512.html">Milestone Aviation Group</a> (Booth No. 4042), a global finance company focused on providing leasing of high-value helicopters and private jets, announced at Hel-Expo 2011 that it has closed $141 million in transactions for 20 new and used helicopters since the company was launched in last August. In addition, it currently holds letters of intent for an additional $64 million in aircraft, bringing the total of firm and expected business to $205 million.
The company has provided leases to helicopter operators in Mexico, the U.S., India, Canada, Europe, and Brazil,, including Aeroservicios Especializados of Mexico; CareFlite, Grand Prairie, Texas; Global Vectra, India; Helijet International, Vancouver, B.C.; Inaer of Europe; and Omni Taxi Aereo of Brazil. These operators use helicopters in a range of industries, such as offshore oil and gas, EMS and government contract transport.
The new leasing group is backed by $500 million in capital from the Jordan Company and Nautic Partners private equity groups. Milestone is expected to raise further equity next year and in the next five or six year wants to lift the value of its portfolio to between $4 billion and $5 billion.
Milestone Aviation was created by Richard Santulli, founder of the NetJets fractional ownership group, who serves as the new company’s chairman. Fellow founders were CEO William Kelly and managing director Robert Dranitzke–both former senior executives with NetJets Europe. Milestone is headquartered in Ireland and has a U.S. office in Columbus, Ohio.
Milestone provides dry leases in which it carries 100 percent of the financing and residual value risk on the new and pre-owned aircraft it buys. “We want to avoid people having to go through credit committee hell,” Kelly said, referring to what can be a torturous process for getting leases approved. “There is just a small group of people involved and we make quick decisions.”
The new firm’s main area of focus is what Kelly called “working-class helicopters,” meaning aircraft involved in activities such as offshore support and logging. It expects 70 percent of its business to be outside the U.S., with a strong focus on Africa and Asia.
Kelly explained that helicopters involved in fields like these hold their value well. As proof of this claim, he pointed out that prior to launching NetJets, Santulli had run his own helicopter leasing business, RTS Helicopters, mainly supplying aircraft to operators active in the Gulf of Mexico oil fields.
While raising launch capital for Milestone, Santulli visited the <a href="?q=node/13483">First Reserve private equity group, which owns CHC Helicopters</a>. Back in 1993, Santulli had bought some Eurocopter Super Pumas for CHC at $5.5 million apiece. The aircraft are still in service and First Reserve now values them at between $6.5 and $7 million.
“There are very few dry lessors like us in the helicopter sector, and the manufacturers don’t provide much financing,” Kelly said. “We’re not into the VIP market because that fluctuates a lot, but the working-class helicopters are in demand all the time and all around the world.”
For helicopter operators, Milestone’s pitch is that leasing equipment reduces risk and conserves working capital, as well as offers tax advantages and improves cash flow. “It also eliminates end-of-useful-life hassles, and these days even finding financing to cover 20 percent of the purchase prices can be tough so leases can ease strapped balance sheets,” he explained.
Milestone also intends to be active in leasing fixed-wing aircraft. These could account for around 20 percent of its portfolio and will mainly consist of private jets aged between one and five years in the class of the Bombardier Challenger 300 and larger.

Heli-Expo 2011: Milestone Aviation Logs $141 Million in Helicopter Leases, $64 Million More In the Works

<a href="http://www.bjtonline.com/s/article/former-netjets-ceo-back-in-aviation-2512.html">Milestone Aviation Group</a> (Booth No.

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