Lobo Leasing, a leading global helicopter leasing company, announced today that they have closed the first of a two-part lease agreement with expeditionary airlift services provider, AAR Airlift Group, a division of global aerospace and defense company, AAR. Collaborating with UK-based partner, H-LEASE, Lobo worked closely with AAR to develop a customised fleet planning solution to serve two purposes for the company; first creating near-term liquidity and flexibility for AAR with sale and leaseback of two Sikorsky S-92As; second, by providing an attractive long-term lease of two new AgustaWestland AW189 super-mediums for AAR’s 10-year SAR contract in the Falkland Islands for the UK Ministry of Defence starting in 2016. This transaction marks Lobo’s first ownership of the AW189 and deepens their fleet of the strong performing S-92 heavy helicopters. The agreement also expands Lobo’s diversification into the search and rescue (SAR) and government services sectors.
“We combined the economics and characteristics of these two different aircraft and business opportunity profiles to provide a creative and customized fleet-planning solution for AAR – a world-class provider of aviation services to commercial airlines, government agencies and original equipment manufacturers,” said Lobo’s chief executive officer, William Wolf. “Additionally, it was great to work on the transaction with our partner, Tim Blockley of H-LEASE, who sourced the opportunity and contributed to the design and structuring of this complex transaction.”
AAR CFO John Forston said, “Lobo provided a sale leaseback solution for AAR that was cost efficient and swiftly executed.”
AAR Airlift Group provides expeditionary airlift services in support of contingency operations worldwide. Airlift provides passenger and cargo transport, aeromedical services, night vision operations, search and rescue (SAR), airdrop and other special mission services. AAR Airlift Group’s fleet of fixed-wing and rotary-wing aircraft serves defense customers in Afghanistan, Africa, the Mediterranean, Indian Ocean and the Western Pacific.
AAR Corp. is an-industry leading provider of aviation services to the worldwide commercial aviation and government/defense industries. AAR combines a close-to-the-customer business model with a broad range of capabilities to help customers operate more efficiently, lower costs and maintain high levels of quality, safety and service. More information can be found at www.aarcorp.com.
Founded by industry veteran, Tim Blockley, H-LEASE provides deep expertise in helicopter leasing and sales. H-LEASE has one of the most extensive and up-to-date industry networks within the commercial helicopter sector focused on Offshore Oil & Gas, Search & Rescue, Emergency Medical Services, Heavy Lift, Passenger Transportation and General Utility operations. H-LEASE is an exclusive alliance partner with Lobo Leasing. More information can be found at www.hlease.co.uk.