Heli-Expo ShowNews - February 24-26, 2008 - (Page 8)

Private Equity Fund Buys CHC Helicopters for $3.7 Billion Canada’s CHC Helicopter Corp., the world's largest provider of helicopter services to the global offshore oil and gas industry, has agreed to be sold to a private equity fund for C$3.7 billion in the largest-ever buyout in the oilfield services industry. First Reserve Corp., a private equity firm that specializes in the energy industry, will pay cash for the helicopter company. The acquisition “will help us realize our growth potential," said Sylvain Allard, president and CEO of CHC. "First Reserve views CHC as a great investment platform… and will work in partnership with us to achieve our long-term objectives." First Reserve MD Mark McComiskey noted that CHC is the European and global leader in oil and gas and search and rescue helicopter services, with the world's largest independent helicopter support business. It has, he added, “a dynamic management team executing an exciting growth strategy." CHC operates more than 250 helicopters worldwide. Its fleet (with yet-to-bedelivered helicopters) includes 28 Sikorsky S-92s and 23 AW139s, and last year it began operating the EC225. CHC has 85 helicopters (42 heavy and 43 medium aircraft) on order, 24 of which are expected to be delivered before May, with the remaining 61 aircraft to be delivered over the next five years. It also has the option to purchase up to 30 additional heavy and medium aircraft over the next seven years.—John Morris P&WC Offers Tailored FMP Plans Pratt & Whitney Canada has launched an all-new Fleet Management Program for its engines that can be tailored to the way its customers use their helicopters. The first customer is ERA Helicopters of Los Angeles, which signed an 11-year contract covering its 26 installed and three spare PT6B-37A engines in its fleet of AW119 Koalas. The FMP program, described by Eva Azoulay, commercial director of P&WC’s service centers, as a cost effective, “no surprises” maintenance plan guarantees operating costs over the long term. The FMP ensures no recalculations of costs as long as the engines remain within an agreed range of flight conditions. American Eurocopter Sees Strong Market The U.S. helicopter market is off to a very strong start at the beginning of ’08 with no signs of harm from a weakening economy, says Marc Paganini, president and CEO of American Eurocopter. “I think it will remain very strong in the future, though maybe not as strong as 2007,” he told Show News. “But I don’t see any sharp downtown. High oil prices and fleet renewal American Eurocopter CEO Marc Paganini. remain major drivers, but more people are finding ways to use helicopters, he added. American Eurocopter delivered 150 helicopters into the U.S. civil and parapublic market last year, claiming a 45.7% market share. Thales Delivers First TopDeck for S-76D Thales has delivered the first components of its T opDeck avionics suite to Sikorsky for installation in the S-76D. Its win at Sikorsky marks the first time a U.S. helicopter manufacturer has selected a non-American supplier to provide a glass cockpit, avionics suite and automated flight control system. A full complement of control panels and sensors was delivered in January, and a full avionics suite will be delivered by the end of this month for fitting in the first prototype at Sikorsky’s Keystone Helicopters subsidiary. Eurocopter Dominates World Markets Eurocopter dominated world civil and parapublic turbine helicopter markets last year with deliveries of 488 helicopters, up from 381 in 2006. It estimated its global market share in those categories at 53.3%, more than double that of its nearest rival Bell Helicopter with 20.4% and four times that of AgustaWestland at 12%. Sikorsky took 9.9% of the market, and MD Helicopters 1.8%. Eurocopter put U.S. civil and parapublic market shares at American Eurocopter 45.7%, Bell 30.7%, Sikorsky 11.3%, AgustaWestland 5.8%, and MD Helicopters 3.1%. AgustaWestland Plans Growth AgustaWestland has set its sights on growing its commercial helicopter business to 30% of its revenues in 2010, up from 22% now. Revenues were 2.72 billion euros in 2006. Last year 53% of its commercial sales (which totaled 208 helicopters) were for VIP and corporate use, followed by 20% for the offshore market, 10% for government, eight percent for emergency medical services, and five percent for law enforcement. 8 www.aviationweek.com/shownews February 26, 2008 http://www.aviationweek.com/shownews

Table of Contents Feed for the Digital Edition of Heli-Expo ShowNews - February 24-26, 2008

Helicopter Speed Record Heli Express Renews Orders Flow at Heli-Expo MD’s Tilton Wants VLJ Flying in Style P&WC’s new by-the-hour Eurocopter Dominates Booming Outlook

Heli-Expo ShowNews - February 24-26, 2008

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