Business Aviation
Milestone and Leonardo Launch Helicopter Leasing Efficiency Pact
Power-by-the-Hour agreement optimizes 100+ helicopters for offshore energy and EMS missions, reducing costs via predictive maintenance.
Milestone Aviation and Leonardo Helicopters: A New Chapter in Helicopter Leasing
The global aviation industry is undergoing a significant shift, particularly in the specialized domain of helicopter leasing. This transformation is driven by rising demand for offshore energy support, emergency medical services (EMS), and environmentally sustainable aviation solutions. At the forefront of this evolution is a newly announced framework agreement between Milestone Aviation Group and Leonardo Helicopters, revealed on July 2, 2025, that could redefine how operational efficiency and cost predictability are managed in the sector.
Milestone, the world’s leading helicopter leasing firm and a subsidiary of AerCap, has signed a Power-by-the-Hour (PBH) agreement with Leonardo, a globally recognized manufacturer known for models like the AW139, AW169, and AW189. This agreement encompasses over 100 helicopters from Milestone’s Leonardo fleet and introduces a streamlined PBH transition solution aimed at reducing maintenance costs and increasing uptime for operators worldwide.
This collaboration marks a pivotal point in aviation asset management, reflecting nearly 15 years of cooperation between the two companies. It also aligns with broader industry trends such as digitalization, predictive maintenance, and the shift toward renewable energy support missions.
Evolution of a Strategic Partnership
From Initial Collaborations to a Global Framework
The relationship between Milestone and Leonardo dates back to 2010, with their first major transaction occurring in 2013. At that time, Milestone placed an order for 22 helicopters valued at $682 million, marking one of the largest civilian helicopter sales in AgustaWestland’s history, the predecessor to Leonardo. This procurement strategy allowed Milestone to lease Leonardo helicopters to operators worldwide, forming the foundation of a mutually beneficial partnership.
Fast forward to 2025, and Milestone now operates a Leonardo fleet of over 100 helicopters, including AW169s, AW139s, and AW189s. These aircraft are deployed across a range of missions such as offshore oil and gas transport, search and rescue (SAR), EMS, and renewable energy operations. The current agreement builds on this history by introducing a standardized PBH model applicable across Milestone’s global customer base.
This development is more than a contract, it’s a strategic alignment. According to Francesco Bellardi, VP of Customer Support and Services at Leonardo, the agreement “lays the groundwork across Leonardo’s global operations” and is the result of months of collaboration between the two entities.
“This agreement not only solidifies the foundation of mutual trust and cooperation but also lays the groundwork across Leonardo’s global operations.”
, Francesco Bellardi, VP Customer Support and Services, Leonardo S.p.A.
The Rise of Power-by-the-Hour Models
The PBH model represents a shift from traditional leasing structures toward performance-based contracts. Instead of fixed lease payments, operators pay based on actual flight hours, allowing for better alignment between cost and usage. This model gained traction during economic downturns, particularly the COVID-19 pandemic, when operators sought to reduce fixed costs and preserve cash flow.
Leonardo has been a pioneer in PBH agreements, previously signing a similar deal with PHI Aviation in 2023. That agreement included predictive maintenance tools and global support coverage. The new framework with Milestone takes this a step further by applying PBH across a diverse fleet and multiple operators, effectively creating a standardized maintenance ecosystem.
Fleet Capabilities and Mission Diversity
The agreement covers three primary helicopter models, each tailored to specific mission profiles. The AW139 is a versatile 15-seat twin-engine helicopter used for offshore transport, EMS, and law enforcement. With over 1,200 units produced, it is one of the most widely adopted medium-lift helicopters globally.
The AW169, a smaller 10-seat model, is optimized for EMS and utility missions. It features advanced avionics and night vision compatibility, making it suitable for complex operations. The AW189, a super-medium helicopter designed for offshore work, offers a 50-minute run-dry gearbox and has logged over 155,000 flight hours in offshore missions alone.
This fleet diversity enables Milestone to support approximately 50 customers in 35 countries, addressing mission-critical needs from oil and gas to firefighting and police surveillance.
Market Dynamics and Strategic Implications
Offshore Energy and Renewable Transition
The agreement is particularly timely given the dual expansion of the offshore energy sector, traditional oil and gas and the burgeoning offshore wind industry. Leonardo currently operates nearly 500 helicopters globally in offshore roles, and the AW189 is a preferred platform for such missions thanks to its endurance and payload capabilities.
As countries invest in offshore wind infrastructure, the need for reliable air transport to remote installations increases. Helicopters like the AW189 play a crucial role in construction, maintenance, and emergency response. This trend is evident in recent deals, such as GD Helicopter Finance’s acquisition of 20 H175 helicopters for energy and SAR missions.
Milestone’s positioning in this sector is strategic, as the PBH model enhances operational reliability, an essential factor in offshore environments where aircraft availability must exceed 85-90%.
Growth of the Helicopter Leasing Market
The global helicopter leasing market is projected to grow from $4.99 billion in 2024 to $10.13 billion by 2032, reflecting a 9.3% compound annual growth rate. North America is expected to hold a 36.04% market share. Leasing offers operators a way to reduce capital expenditures and mitigate risks associated with asset ownership.
Milestone, backed by AerCap, signed 21 lease agreements in Q2 2024 alone, reinforcing its leadership position. The PBH model further differentiates Milestone by offering bundled financial and technical services, from engine leasing to fleet advisory.
This integrated approach is increasingly vital as operators demand mission-specific configurations and predictable cost structures. The Leonardo-Milestone agreement addresses these needs while enhancing asset lifecycle value for both parties.
Digitalization and Predictive Maintenance
One of the most forward-looking aspects of the agreement is its emphasis on digital infrastructure. Leonardo’s Diagnostic Services Tower in Sesto Calende, Italy, provides real-time fleet monitoring and predictive maintenance capabilities. These tools allow for early detection of potential issues, reducing unscheduled downtime by an estimated 30-40%.
Data from Milestone’s diverse operations will feed into Leonardo’s algorithms, creating a feedback loop that improves maintenance accuracy over time. This is particularly beneficial for high-intensity missions such as offshore transport and firefighting, where reliability is paramount.
As the aviation industry embraces digital transformation, the integration of predictive tools into leasing frameworks could become a standard practice, offering both operational and economic advantages.
“Milestone and Leonardo have worked closely together for almost 15 years… This agreement underscores our ongoing commitment to delivering their aircraft to our customers across a diverse range of missions.”
, Kieran Hannan, Head of Fleet & Technical Operations, Milestone Aviation
Conclusion and Future Outlook
The framework agreement between Milestone Aviation and Leonardo Helicopters represents more than just a business transaction, it’s a strategic evolution in helicopter leasing. By standardizing PBH implementation across a diverse fleet and customer base, the partnership enhances operational efficiency, cost predictability, and maintenance reliability.
Looking ahead, this model could serve as a blueprint for future OEM-lessor collaborations. As the industry continues to digitalize and shift toward sustainable operations, integrated service models like this will likely become the norm. The emphasis on renewable energy missions also positions both companies to play a key role in the global energy transition, ensuring that aviation remains a critical enabler of progress.
FAQ
What is Power-by-the-Hour (PBH)?
PBH is a maintenance contract model where operators pay based on actual flight hours instead of fixed lease payments, offering predictable costs and improved service reliability.
Which helicopter models are included in the Milestone-Leonardo agreement?
The agreement covers the AW169, AW139, and AW189 models, used in missions ranging from offshore energy to EMS and law enforcement.
How does this agreement benefit operators?
Operators gain access to standardized maintenance protocols, predictive analytics, and reduced operational costs, improving aircraft availability and mission readiness.
Sources: Milestone Aviation, Leonardo Helicopters, Fortune Business Insights, FlightGlobal
Photo Credit: Milestone Aviation
Business Aviation
Gulfstream Opens First On-Site Customer Support Office in Singapore
Gulfstream Aerospace opened a dedicated customer support office in Singapore on June 11, 2026, staffing it with eight professionals at Jet Aviation.
Gulfstream Aerospace Corp. established its first dedicated on-site Customer Support office in Singapore on June 11, 2026, embedding eight professionals at Jet Aviation’s facility to directly serve the growing Asia-Pacific business aviation market.
Announced in a company press release, the expansion builds upon Gulfstream’s existing footprint in the region. The new office aims to streamline service capabilities for operators across the Asia-Pacific (APAC) region, which the manufacturer identified as a leading aerospace hub with increasing flight activity.
Regional support infrastructure
The Singapore office is staffed by eight Gulfstream customer support professionals. According to the company, this team will work alongside Jet Aviation to provide localized assistance and technical guidance to operators.
Lor Izzard, senior vice president of Gulfstream Customer Support, stated that the manufacturer is seeing increased activity across Asia, making Singapore a logical location for the expansion.
“Adding this dedicated on-site team allows us to deliver a more seamless and convenient service experience for customers across the region,” Izzard said.
The manufacturer currently maintains a 5,000-square-foot (465-square-meter) distribution center in Singapore. This facility houses an estimated $70 million in dedicated spare parts inventory and fulfills 70 percent of regional parts orders.
Broader Asia-Pacific expansion strategy
The establishment of the Singapore office is part of a wider strategy to capture and support market share in the Eastern Hemisphere. Gulfstream’s broader APAC support network includes nine Field Service Representatives and three Field and Airborne Support Teams (FAST). Globally, the company operates six factory-authorized service centers and 10 authorized warranty facilities.
The customer support expansion follows a series of sales leadership appointments announced on June 8, 2026. Gulfstream named Marc Ghaly as division vice president of sales for the Europe, Middle-East, and Africa (EMEA) and APAC regions, alongside Jad Benhaïjoub as regional vice president of government sales for the same territories.
AirPro News analysis
We view Gulfstream’s decision to co-locate its customer support personnel with Jet Aviation as a practical leveraging of General Dynamics’ corporate umbrella, as both companies share the same parent organization. By embedding factory personnel directly at an established maintenance, repair, and overhaul (MRO) provider, Gulfstream can offer original equipment manufacturer (OEM) oversight without the capital expenditure of building a standalone service center in a high-cost real estate market like Singapore. The concurrent restructuring of EMEA and APAC sales leadership suggests the manufacturer is positioning for a sustained sales push in the region, backed by the necessary aftermarket infrastructure to reassure prospective buyers.
Sources: Gulfstream Aerospace Corp.
Photo Credit: Gulfstream
Business Aviation
ACASS Adds BBJ2 and Legacy 650 to Kenya Fleet
ACASS expands its African managed fleet with a Kenya-based Boeing BBJ2 and Embraer Legacy 650 for global charter.
Montreal-based aviation services provider ACASS has expanded its managed fleet in Africa with the addition of a Kenya-based Boeing Business Jet 2 (BBJ2) and an Embraer Legacy 650.
Announced in a press release on June 4, 2026, the two long-range Private-Jets are registered under the San Marino Aircraft Registry (T7). Both jets will soon be available for global charter operations to support rising demand for executive, head-of-state, and large-group intercontinental travel across the region.
Fleet expansion targets African charter demand
The introduction of the BBJ2 and Legacy 650 adds significant intercontinental range and passenger capacity to the ACASS portfolio. Operating out of Kenya positions the aircraft to serve both regional and long-haul requirements for VIP clients.
ACASS Chief Executive Officer Andre Khury highlighted the strategic nature of the fleet additions in the company’s June 4 statement.
“These additions reflect both the continued demand we are seeing in Africa and our commitment to providing flexible, high-quality aircraft management and charter solutions in the region,” Khury said.
Khury also noted the company’s decades of operational experience across the continent, emphasizing a focus on adapting to the evolving requirements of its charter and management clients.
Operational transparency and registry selection
Both newly managed aircraft operate under the San Marino T7 registration. The T7 registry is frequently utilized by international business aviation operators for its regulatory efficiency and strict adherence to International Civil Aviation Organization (ICAO) safety Standards.
The fleet expansion follows recent technology investments by the management firm. On February 11, 2026, ACASS integrated the MySky Spend management platform into its operations. The platform adoption was designed to increase financial transparency and streamline information access for aircraft owners.
AirPro News analysis
We view the placement of a BBJ2 and a Legacy 650 in Kenya as a calculated response to the distinct logistical realities of the African business aviation market. The continent’s vast geography and historically fragmented commercial airline networks create a strong use case for long-range, high-capacity business jets capable of direct intercontinental flights. By utilizing the San Marino registry, ACASS likely aims to streamline cross-border operations, regulatory compliance, and maintenance oversight, which can occasionally present challenges under certain local registries.
Sources: ACASS
Photo Credit: ACASS
Business Aviation
Flexjet Acquires The Jet Business, Names Varsano President
Flexjet acquires London brokerage The Jet Business, appointing founder Steve Varsano as President to strengthen fleet remarketing.
Fractional ownership provider Flexjet has acquired London-based aircraft brokerage and advisory firm The Jet Business, naming founder Steve Varsano as President of Flexjet and expanding the operator’s capabilities in whole aircraft sales and fleet lifecycle management.
Announced on June 12, 2026, the acquisitions merges The Jet Business with Flexjet’s existing FXSolutions brokerage under a unified platform. The transaction expands Flexjet’s footprint in the European market while providing the company with greater strategic control over the procurement, modernization, and remarketing of its global fleet of more than 340 aircraft.
Strategic fleet management and brokerage integration
The Jet Business will retain its brand identity and continue operating from its corporate jet showroom in London’s Mayfair district. For Flexjet, the acquisition provides an in-house mechanism to manage the transition of aging airframes out of its fractional fleet and optimize residual values.
In a press release detailing the acquisition, Flexjet Chairman Kenn Ricci emphasized the operational necessity of the deal for the company’s long-term fleet strategy.
“A core tenet of our luxury strategy is maintaining one of the youngest and most modern fleets in the industry. To do that effectively requires sophisticated capabilities around aircraft remarketing and transition planning,” Ricci stated.
Ricci added that the acquisition strengthens the company’s platform to move older aircraft out of the fleet gracefully while introducing next-generation aircraft into service for its fractional owners.
Clients of The Jet Business will gain access to a new suite of services branded as Flexjet Solutions. This offering includes aircraft operational support, pre-purchase inspections, maintenance infrastructure, Aircraft on Ground (AOG) response resources, and comprehensive aircraft management.
European expansion and leadership changes
As part of the acquisition, Steve Varsano assumes the role of President at Flexjet. Varsano has built a highly visible profile in the business aviation sector, operating a street-level showroom for corporate jets and amassing a social media audience that includes over 2.5 million followers on TikTok.
“We are well aligned in our belief that clients, at the very top of this market, are seeking far more than access to aircraft. They want trusted solutions that are designed around their needs, delivered by experts, and presented in style,” Varsano said regarding the merger.
The acquisition aligns with Flexjet’s ongoing infrastructure investments in the European market. The company recently opened a Tactical Control Center at Farnborough Airport (FAB) in the United Kingdom. Later in the summer of 2026, Flexjet plans to open a new private terminal at Farnborough, marking its largest infrastructure project outside the United States.
Financial terms of the acquisition were not disclosed by either party.
AirPro News analysis
We view this acquisition as a textbook example of vertical integration in the business aviation sector. Operating a fractional fleet of over 340 aircraft requires a constant, capital-intensive cycle of fleet renewal. By bringing a high-profile brokerage in-house, Flexjet secures a dedicated channel to remarket its older airframes, streamlining the transition process and keeping its core fractional fleet young. Tapping into Varsano’s extensive network of ultra-high-net-worth individuals also provides Flexjet with a direct pipeline to convert whole-aircraft buyers into fractional owners, or vice versa, depending on their changing operational needs.
Sources: Flexjet
Photo Credit: Flexjet
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