Pratt & Whitney Canada and Milestone Aviation Group Sign US$ 75 Million, 15-Year Deal for New Helicopter Engine Fleet Management

Pratt & Whitney Canada and Milestone Aviation Group Sign US$ 75 Million, 15-Year Deal for New Helicopter Engine Fleet Management Program 
FOR: Pratt & Whitney Canada 
and Milestone Aviation Group 
FEBRUARY 27, 2014 
Pratt & Whitney Canada and Milestone Aviation Group Sign US$ 75 Million,
15-Year Deal for New Helicopter Engine Fleet Management Program 
ANAHEIM, CALIFORNIA--(Marketwired - Feb. 27, 2014) - Pratt & Whitney Canada
(P&WC), a United Technologies Corporation company (NYSE:UTX), and Milestone
Aviation Group, a global leader in helicopter leasing, today announced a US$ 75
million, 15-year agreement under which P&WC will offer its Flexible
Turboshaft Engine Fleet Management program to Milestone customers. 
The agreement, signed today at HAI Heli-Expo, will provide P&WC's
customized engine maintenance support to helicopter operators worldwide leasing
through Milestone. Initially 25 helicopters with P&WC PT6C-67C engines will
be covered under the fleet management program with the intent to expand the
scope to include PW210S, PW210A, PT6C-67E, PT6B-37A, PT6T and PW207C engine
models in the future.  
"With more than 3,700 P&WC-powered helicopters flying globally, the
helicopter market is a vital part of our portfolio and effectively supporting
the needs of these operators is paramount," said John Di Bert, Vice
President, Customer Service, P&WC. "We are particularly excited to
join forces with Milestone - a market leader that leverages both its scale and
its deep operating expertise to provide its customers with unique benefits.
Together, we will deliver a fleet management program that is tailored
specifically for individual operators and provides the peace of mind and
predictability of guaranteeed future maintenance costs." 
The engine fleet management program will also offer helicopter operators who
lease through Milestone a turnkey contractual framework that easily facilitates
"The agreement to deliver P&WC's fleet management program to
helicopter lessees is a testament to our mission to provide unique solutions to
our customers that help preserve their capital, reduce their risk and improve
their cash flow," said Matthew Harris, Chief Operating Officer, Milestone
Aviation Group. "Pratt & Whitney Canada shares our passion for
delivering exceptional customer service. Backed by their 40 years of Turboshaft
engine expertise, we have created a flexible offering that best meets the
support requirements of the growing number of operators benefiting from
helicopter leasing."  
The longstanding relationship between P&WC and Milestone, which started
with the first contracted PW206C in 2010, has expanded to include more than 160
P&WC engines across all variants.  
About Pratt & Whitney Canada (P&WC)  
Founded in 1928 and a global leader in aerospace, P&WC is shaping the
future of aviation with dependable, high-technology engines. Based in
Longueuil, Quebec (Canada), P&WC is a wholly owned subsidiary of United
Technologies Corp. (UTC). UTC is a diversified company that provides a broad
range of high-technology products and services to the global aerospace and
building systems industries. 
About Milestone Aviation Group  
Milestone Aviation Group is the global leader in helicopter leasing. Since
launching in August 2010, and as of December 31, 2013, Milestone has acquired
143 aircraft valued at over US$ 2.2 billion and closed leases with 26 operators
in over 20 countries on six continents. The company has a forward order book of
over 130 firm and option aircraft valued at over US$ 3.0 billion. These
delivery positions of in-demand helicopters are made available for lease
globally. Milestone partners with helicopter operators worldwide and supports
them through 100 per cent operating lease financing. The company provides
financing for helicopters, serving a variety of industries, including offshore
oil and gas, search and rescue, emergency medical services, police
surveillance, mining and other utility missions. Further information is
available at  
This press release contains forward-looking statements. Forward-looking
statements involve uncertainties, risks and assumptions, since these statements
include information concerning Milestone's possible or assumed future
results or performance, operations, business strategies, financing plans and
potential growth opportunities. Forward-looking statements speak only as of the
date they were made, and Milestone undertakes no obligation to update publicly
or to revise any forward-looking statements because of new information, future
events or other factors. In light of the risks and uncertainties described
above, the forward-looking events and circumstances discussed herein might not
occur and are not guarantees of future performance. Milestone's actual
results and performance could differ substantially from those anticipated in
its forward-looking statements.  
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Catherine Fisette, P&WC
450-647-7-9411 x 7-7074
Eric Berman / Nathan Riggs of Kekst and Company
+1 212-521-4894 / +1 212-521-4804 / 
INDUSTRY:  Aerospace and Defense - Aircraft, Aerospace and Defense -
Electronics and Communications, Aerospace and Defense - Space, Transportation
and Logistics - Air Freight 
-0- Feb/27/2014 21:00 GMT
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