CHC Helicopter Corporation flying high with Lloyds TSB Scotland
22 April 2007
Internationally recognised CHC Helicopter Corporation, which has its European HQ in Aberdeen, has announced its purchase of four new helicopters in a multi-million pound deal financed by Lloyds TSB Scotland.
Canadian CHC group is the world's largest provider of helicopter services to the global offshore oil and gas industry and operates approximately 250 aircraft out of more than 30 countries. Aberdeen is the Group’s busiest base, with approximately 220 employees.
CHC Helicopter Corporation required Lloyds TSB Scotland’s Corporate Asset Finance team’s expertise and support to acquire four new Sikorsky S-92 medium lift twin engine helicopters. Once the last of the four aircraft is delivered in August, they will be located in Denmark, Norway and Newfoundland and will be used to provide transport services to the oil and gas industry for clients including NorskHydro and Statoil.
Blake Fizzard, CHC’s Vice-President of Financial Structuringsaid: “Lloyds TSB Scotland’s Corporate Asset Finance team has a well earned reputation for specialist expertise in aircraft asset financing. They worked closely with us along every step of the way and brought in their own experienced advisors - including lawyers, accountants, asset managers, foreign exchange and taxation advisors - to construct all the elements of the deal.”
Andy Robertson, Director of Corporate Asset Finance for Lloyds TSB Scotland said: “Lloyds TSB Scotland’s Corporate Asset Finance team has many years of experience in the complicated asset class of financing aircraft and we drew upon this expertise to build a team focussed on delivering a bespoke solution that met CHC Helicopter Corporation’s specific business needs. We are delighted to have been able to support this acquisition and look forward to working with Blake and his team in the future.”
