Chris Cantwell, group head and managing director of CIT Corporate Finance, Aerospace & Defense said: “As a global leader in transportation finance, we are pleased to have arranged this financing that will allow LCIH to grow their fleet as they look to meet the increasing market demand for medium and heavy twin engine helicopters.

“These helicopters are in high demand as operators, particularly those in the oil and gas, search and rescue, and emergency medical services sectors, seek the most advanced technology equipment to meet their needs.”

Neil Wessan, group head and managing director, CIT Capital Markets, added: “We were successful in syndicating this transaction as the capital markets realize that demand for these types of assets is expected to increase steadily and will be driven by growth in the need for heavy lift helicopters on a global basis, combined with fleet replacement.”  

Jaspal Jandu, LCI’s chief financial officer, said: “Helicopter leasing is a new and dynamic development in the aviation sector. In offering flexible financing options and a solid capital base to our lessees, we are pleased to have the support of our banking partners which demonstrates continued confidence and assurance in our approach.”

Since its inception in 2004, LCI has acquired fixed wing and rotary aircraft with a value of around $6 billion. The company is owned by Libra Group, an international business group with 30 subsidiaries operating across five continents. Libra Group’s subsidiaries are primarily focused on aviation, shipping, hospitality, energy and real estate, along with selected diversified investments.