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

Pratt & Whitney Canada and Milestone Aviation Group Sign US$ 75 Million, 15-Year Deal for New Helicopter Engine Fleet Management
ANAHEIM, CALIFORNIA -- (Marketwired) -- 02/27/14 -- 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
"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 enrollment.  
"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
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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news and updates. 
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 /
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