Commercial Aviation
RIVE Private Investment Acquires Four Helicopters from Milestone Aviation
RIVE Private Investment acquires a four-helicopter portfolio from Milestone Aviation, supporting offshore wind and oil sectors in the North Sea.

This article is based on an official press release from RIVE Private Investment.
RIVE Private Investment Acquires Four-Helicopters Portfolio from Milestone Aviation
RIVE Private Investment, a European investment firm focused on transportation and energy transition assets, has announced the acquisition of a four-helicopter portfolio from Milestone Aviation Group. The transaction, which was finalized in late 2025 and announced in January 2026, underscores the growing intersection between aviation finance and renewable energy infrastructure.
According to the company’s official announcement, the deal involves three Leonardo AW139s and one Leonardo AW169. These assets are currently leased to specialized operators supporting critical offshore industries. The acquisition aligns with RIVE’s broader strategy to invest in assets that contribute to decarbonization and essential services.
Transaction Overview and Financing
The agreement between RIVE Private Investment, acting through its RIVE Transportation Assets Income Fund, and Milestone Aviation Group (an AerCap company) was signed on November 6, 2025. The portfolio consists of four twin-engine helicopters manufactured by Leonardo, a leading aerospace company.
The specific assets acquired include:
- Three Leonardo AW139s: Intermediate twin-engine helicopters widely used in offshore operations.
- One Leonardo AW169: A light intermediate twin-engine helicopter known for its versatility in wind farm support.
RIVE confirmed that the acquisition was supported by senior debt financing provided by Investec, a South African bank described as a repeat partner for the investment firm. The deal structure involves acquiring the aircraft with existing lease contracts already in place, ensuring immediate revenue generation.
“The transaction… involves three Leonardo AW139s and one Leonardo AW169.”
, RIVE Private Investment Press Release
Operational Deployment and Strategic Focus
The portfolio is heavily weighted toward the renewable energy sector, reflecting the operational demands of the North-America Sea region. According to the release, the helicopters are leased to two primary operators: HeliService and Uni Fly.
Supporting the Energy Transition
Three of the four helicopters are dedicated to the offshore wind industry. These aircraft are equipped with hoists to transfer technicians and equipment to wind turbine nacelles off the coasts of the United Kingdom and Germany. This deployment highlights the critical role of vertical lift in maintaining offshore wind farms, which are moving further out to sea where crew transfer vessels are less efficient.
Operator Profiles
The press release highlights the expertise of the lessees:
- HeliService: Based in Germany, this operator is a Leonardo “Excellent Service Center” and specializes in hoist operations and ice navigation for the wind sector.
- Uni Fly: Operating out of Denmark and the UK, Uni Fly is recognized for its pioneering role in helicopter hoist operations for wind farm construction and maintenance.
The fourth helicopter in the portfolio is currently deployed for offshore oil and gas operations, providing a diversified revenue stream while the majority of the assets support the energy transition.
AirPro News Analysis
This transaction illustrates a maturing trend in aviation finance where specialized investment funds are increasingly acquiring assets from major lessors like Milestone to target specific ESG (Environmental, Social, and Governance) niches. By focusing on helicopters that support offshore wind, RIVE is effectively categorizing these aircraft as “energy transition assets” rather than just transportation hardware.
For Milestone Aviation, the sale represents an opportunity to recycle capital while maintaining a relationship with the assets through a financial partner. For the broader market, it signals continued confidence in the Leonardo AW139 and AW169 as the workhorses of the North Sea energy sector.
Frequently Asked Questions
Who are the operators of the acquired helicopters?
The helicopters are leased to HeliService and Uni Fly, both of which specialize in offshore operations in the North Sea.
What is the primary mission of these aircraft?
75% of the portfolio (three helicopters) is dedicated to supporting offshore wind farms in the UK and Germany. The remaining helicopter supports oil and gas operations.
Who provided the financing for this deal?
Senior debt financing was provided by Investec.
Sources
Photo Credit: RIVE
Aircraft Orders & Deliveries
AerCap Delivers First GE-Powered Boeing 787-9 to Thai Airways
AerCap delivered the first new GE Aerospace-powered Boeing 787-9 to Thai Airways on June 23, 2026, under a 17-aircraft lease agreement.

AerCap Holdings N.V. delivered the first new GE Aerospace-powered Boeing 787-9 to Thai Airways International Public Company Limited (THAI) on June 23, 2026, at the Boeing Delivery Center in Everett, Washington. The Delivery marks the initial phase of a broader 17-aircraft lease agreement signed in early 2024 to support the carrier’s post-pandemic fleet modernization.
In a press release issued Tuesday, AerCap confirmed the handover of the widebody aircraft. The delivery is intended to enhance operational efficiency and expand network capabilities for the Bangkok-based Airlines, which currently operates in 29 countries across 62 destinations.
Fleet renewal and lease agreements
The newly delivered Boeing 787-9 is part of a comprehensive lease package finalized between AerCap and Thai Airways in February 2024. That agreement encompassed 17 aircraft in total, including three Boeing 787-9s, four Airbus A350-900s, and ten Airbus A321neos.
AerCap Chief Commercial Officer Peter Anderson noted the decades-long relationship between the lessor and the airline.
“We are pleased to deliver THAI their first new GE-powered, factory-fitted Boeing 787-9,” Anderson said. “This aircraft will support THAI’s ongoing fleet renewal program, enhancing efficiency and sustainability across its operations.”
Thai Airways Chief Executive Officer Chai Eamsiri emphasized the operational benefits of the new equipment. Eamsiri stated that the aircraft’s efficiency and range will allow the carrier to grow its network while providing a modern passenger experience.
Bridging the widebody capacity gap
The induction of leased 787-9s from AerCap fits into a wider widebody acquisition strategy for Thai Airways. In January 2026, the airline confirmed negotiations to lease 10 Boeing 787-8 aircraft from Avolon. Those airframes, formerly operated by China Southern Airlines, are intended to bridge a capacity shortfall until Thai Airways begins receiving direct Boeing 787 deliveries scheduled for 2028.
AerCap, which serves approximately 300 customers globally, continues to position itself as a primary provider of next-generation widebody lift for legacy carriers executing post-pandemic network restorations.
AirPro News analysis
We view Thai Airways’ multi-lessor approach to widebody Acquisitions as a pragmatic response to ongoing global supply chain constraints and delayed original equipment manufacturer (OEMs) delivery schedules. By securing both new-build 787-9s from AerCap and mid-life 787-8s from Avolon, the carrier is effectively insulating its near-term network expansion plans from further manufacturing delays at Boeing. The selection of GE Aerospace engines for the new 787-9s also indicates a strategic alignment in powerplant maintenance and operational planning as the airline standardizes its future long-haul fleet.
Sources: AerCap Holdings N.V.
Photo Credit: AerCap Holdings N.V.
Commercial Aviation
Southwest Airlines Launches Starlink WiFi on Boeing 737-800
Southwest Airlines began Starlink service on June 22, 2026, targeting 300+ aircraft equipped by end of 2026.

Southwest Airlines (WN) has commenced commercial service with its first Starlink-equipped Boeing 737-800, marking the start of a fleet-wide connectivity upgrade aimed at providing low-latency, high-speed satellite internet to passengers.
The inaugural flight operated from Dallas Love Field (DAL) to Albuquerque International Sunport (ABQ) on June 22, 2026. In a press release issued on June 23, 2026, the carrier confirmed the successful launch, which initiates a broader rollout intended to equip more than 300 aircraft with the SpaceX-developed technology by the end of the year.
Inflight connectivity modernization
The integration of Starlink allows passengers to stream 4K content, play live video games, and upload large files without the need for pre-downloading. This represents a significant shift in the inflight passenger experience for the airline, delivering high bandwidth to devices operating at a cruising altitude of 35,000 feet.
Southwest Airlines Chief Customer and Brand Officer Tony Roach emphasized the pace of the upcoming installations and the intended impact on the passenger experience.
“Starting with this first aircraft, we will be rapidly integrating Starlink into our fleet this year. This ultra-fast WiFi brings an at-home experience to the air and redefines how Customers can stay connected, be productive, and make the most of their time while flying at 35,000 feet,” Roach stated in the release.
Rollout timeline and passenger access
The initial aircraft, registered as N8543Z, is the first of a planned rapid expansion. Southwest originally announced its partnership with Starlink on February 11, 2026, outlining an agreement to upgrade inflight connectivity across its network spanning 11 countries.
The Starlink WiFi service is provided free of charge to all Southwest Rapid Rewards members. The complimentary access is sponsored by telecommunications provider T-Mobile. Passengers who are not currently members can join the Rapid Rewards program to unlock the free connectivity during their flight.
AirPro News analysis
We view Southwest’s transition to Starlink as a necessary competitive maneuver in the increasingly contested US domestic market, where reliable inflight WiFi has shifted from a premium perk to a baseline passenger expectation. By tying free access to its Rapid Rewards program, Southwest is simultaneously upgrading its hard product and driving loyalty program acquisition. The aggressive target of equipping over 300 aircraft by the end of 2026 will require a tightly managed maintenance and modification schedule to avoid aircraft out-of-service delays.
Sources: Southwest Airlines Newsroom
Photo Credit: Southwest Airlines
Route Development
dnata Secures Air Macau Catering at Singapore Changi Airport
dnata completes full Air China Group catering coverage at Changi, adding Air Macau and reaching 580,000 meals per year.

Aviation services provider dnata has secured a contract to provide inflight catering for Air Macau (NX) flights departing from Singapore Changi Airport (SIN), consolidating the catering operations for all four Air China Group carriers at the hub.
In a press release issued on June 18, 2026, dnata confirmed the agreement, which will see the company produce an estimated 54,000 meals annually for Air Macau’s business and economy class passengers. The addition of the Macau-based carrier means dnata now services the complete Air China Group portfolio at Changi Airport, joining Air China, Shenzhen Airlines, and Shandong Airlines.
Air China Group consolidation at Changi
The new contract builds on a 20-year relationship between dnata and Air China in Singapore. With Air Macau integrated into the operation, dnata will handle a combined 5,100 annual flights for the airline group out of the Southeast Asian hub.
This consolidated operation requires the production of approximately 580,000 meals per year for the four affiliated carriers.
“Welcoming Air Macau into our portfolio further strengthens our long-standing partnership with the Air China Group in Singapore. We support the group’s full network at Changi Airport, delivering more than half a million meals annually across its operations,” said Matthew Igo Ball, Managing Director of dnata Catering & Retail Singapore.
Operational scale and regional context
To support its airline customers, dnata operates a 23,000-square-meter catering facility at Changi Airport. The operation employs 500 staff members and produces roughly 6.5 million meals annually for more than 30 airlines.
Ball noted that the scale of the operation reflects the trust partners place in the team to deliver consistent inflight dining at pace, adding that the focus remains on operational excellence to meet international traveler expectations.
The catering agreement comes during a period of network adjustment for Air Macau. According to schedule data published by AeroRoutes, the carrier filed updates in late April 2026 indicating a 21 percent reduction in overall flights across its network for May and June 2026. Despite these broader capacity adjustments, the airline maintained its Singapore route, underscoring the strategic value of the Changi connection.
AirPro News analysis
We view dnata’s capture of the entire Air China Group portfolio at Changi Airport as a textbook example of vendor consolidation by major airline alliances and ownership groups. By utilizing a single catering provider for Air China, Shenzhen Airlines, Shandong Airlines, and Air Macau, the parent group likely achieves better pricing leverage and standardized service quality across its subsidiaries. For dnata, securing the final piece of the group’s Singapore operations insulates its contract against competitors and maximizes the utilization of its 23,000-square-meter facility.
Sources: dnata
Photo Credit: dnata
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