Milestone signs contract for another 19 S-92 helicopters

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Total order for 22 Sikorsky S-92 helicopters valued at nearly $700 million at list prices

Milestone Aviation Group has
announced that it has signed a contract to purchase nineteen additional Sikorsky
S-92 helicopters. These aircraft are in addition to the three S-92
aircraft Milestone purchased from Sikorsky in February 2012. The first two
aircraft are scheduled for completed delivery in late 2012 and the final
aircraft is scheduled for delivery in 2016. The 22-aircraft order is
valued at US$682 million at list prices.

“This acquisition represents
Milestone’s largest helicopter order to date and we are very pleased to partner
with Sikorsky again,” said Milestone chairman Richard Santulli.  “The S-92
has quickly established itself as one of the dominant helicopters in the world
for a range of missions including offshore oil and gas and search and
rescue.  We have a great relationship with Sikorsky and by offering 100%
operating lease financing on this aircraft, we can help introduce it to an
ever-wider market of high quality operators around the world.”

The new aircraft will serve
a variety of roles with operators worldwide, such as transporting workers to
offshore oil and gas platforms, air ambulance, search and rescue, and civil
defence.  The offshore oil and gas environment is now the largest area of
opportunity for heavy duty, mission-critical helicopters, and nearly 88% of
Milestone’s aircraft are currently operating in oilfield services, with more in
associated search-and-rescue tasks. Industry research indicates that this trend
is expected to continue for many years.

These 22 aircraft join
a growing inventory of Sikorsky aircraft that Milestone has purchased
directly from Sikorsky since December 2010, including seven S-76C++
helicopters.  In addition to these direct orders Milestone has provided
100% operating lease financing for 12 additional Sikorsky aircraft.

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