Waypoint redeploys former CHC craft to new customers

Irish-headquartered Waypoint leasing is redeploying two AW139 helicopters being returned from US company CHC to new customers in Africa and Asia, which will use them to support oil and gas production.

Helicopter operator CHC is going through Chapter 11 bankruptcy, a legal mechanism designed to rescue financially troubled companies, in the US courts. It said this week it intends to emerge from the process as a going concern.

Waypoint also said it is talking to interested parties to remarket several other craft formerly used by CHC. It added that those negotiations were at an advanced stage.

Ed Washecka, Waypoint's chief executive, said that the company was encouraged by the broad acceptance of craft returned by CHC.

“We expect our comprehensive remarketing efforts to translate into further new transactions in the near and medium-term, as the price of oil stabilises and other end markets increasingly rely on helicopter leasing to fulfil their missions.”