LCI orders another 18 AgustaWestland helicopters

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An AgustaWestland AW139 flying.

Lease Corporation International (LCI) announces a further multi-year contract with AgustaWestland for up to another 18 helicopters worth over $280 million.
An AgustaWestland AW139 flying.

An AgustaWestland AW139 flying.

Lease Corporation International (LCI) has announced an order for 18 AgustaWestland helicopters valued at over $280 million. The order consists of up to fourteen AW139 helicopters and up to an additional four AW189 twin-engine helicopters.

These helicopters, which will be used by LCI’s helicopter division, will be delivered between 2014 and 2018 if all options are taken.

Crispin Maunder, executive chairman of LCI, said: “We have great pleasure in strengthening further this partnership with AgustaWestland. Their helicopters are particularly well suited to the market and are proving to be very popular with our lessees for a variety of roles. In particular we are excited about the new super-medium category of helicopters and our endorsement of the AW189 with the follow-on order underscoring our intention to be a major player in this space.”

The total contract, signed in Europe, is valued at over $280 million and is in addition to the existing $400 million contract between the two companies signed in early 2012, which includes the new twin-engine AW169.

The first five AW139s from the existing order were delivered in 2013, with an increased delivery flow from this year and onwards.

Daniele Romiti, CEO of AgustaWestland, said: “We are very pleased to sign this latest contract with LCI which has become one of the leading helicopter leasing companies since establishing a helicopter division only two years ago. LCI’s order for more AW139 and AW189 helicopters highlights both their and the market’s recognition that AgustaWestland products offer the best combination of performance and operating costs, whilst providing the very latest safety features.”

Since its launch in 2004, LCI has acquired fixed-wing and rotary aircraft with a value of around $6 billion. With some of the world’s leading names in aviation amongst its lessee base, its helicopter leasing division was established in 2012 with a $400 million order for AgustaWestland helicopters.

More recently, KKR Financial Holdings agreed to invest more than $100 million in LCI’s helicopter unit to tap growing demand from the oil and gas sector.

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