ANNOUCING AVINCO 2016 RESULTS
A stable number of annual transactions and an unprecedented repossession contract
Avinco completed 27 helicopter transactions in 2016, totalling over $ 54 Million worth of assets. Avinco was awarded the largest helicopter repossession contract to date with twenty one H225 and one EC155 to recover, store, manage and remarket on behalf of a consortium of international banks and the French Export Credit Agency, COFACE.
Avinco’s 2016 transactions involved light, medium and heavy machines from several manufacturers and covered all regions. Half of all the transactions involved moving assets from one continent to another. 50% of helicopters delivered in 2016 were adapted to different mission types from their original configuration. Three of these transactions were originated by Avinco’s New York-based US subsidiary which was established mid-2016, the last of which consisted of a Monaco-based VIP Mercedes EC145 sold into the US for HEMS missions.
The 22 helicopter recovery contract has been underway since mid-2016. All the helicopters have been successfully recovered from their locations worldwide, and stored in one central location in Europe. Technical management and remarketing are both in the hands of Avinco.
"Fundamentally, Avinco’s approach to the market remains unchanged. In spite of the ongoing downturn in Oil and Gas, Chapter 11 issues with North American operators and economic uncertainties in Europe and the US, we continue to identify opportunities where they lie in the market,” says Francois Gautier, Avinco’s CEO, “Our success is largely due to our international presence and long standing track record.”
There is a healthy liquidity for single engine helicopters in most parts of the world and demand remains fairly strong in EMS. Finding a home for heavy machines even for a short lease is harder. 2017 will see overcapacity in heavy machines with uncertain prospects for both H225s and S92s. This may impact overall market confidence.
“We are still seeing customers needing assistance in dealing with issues in the market, they’re just different issues…We are the privileged partner for a large number of operators and owners looking to sell, buy or upgrade, because they trust our know-how and network to find solutions to their situation”, concludes Gautier.
© Avinco, 2016