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LCI raises fund for helicopter fleet expansion

16th February 2018 - 11:30 GMT | by The Shephard News Team

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Helicopter lessor, Lease Corporation International (LCI), has raised financing to expand its helicopter fleet, the company announced on 13 February.

The financing was jointly funded by CIT Group and Prudential Capital Group.

LCI will acquire six new AW139 and AW169 helicopters which will be placed with emergency medical services and search and rescue operators.

Jaspal Jandu, chief financial officer, LCI, said: ‘LCI's fast-growing helicopter leasing platform has now achieved the size for us to undertake our maiden capital markets placement. This transaction enables us to diversify our capital base and lower our cost of capital, further increasing the efficiency of our operations.’

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