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The stampede to cash in on the burgeoning deepwater offshore energy market has spawned a series of helicopter-leasing companies with billions of capital to invest. Initially the deals were for just large and medium helicopters servicing the oil and gas industry, but it now looks like some of these companies are making serious efforts to penetrate the medevac and parapublic markets — and that could be good news, especially for smaller players in the industry.
Companies such as Waypoint Leasing are moving into the light-twin space, recently announcing a deal to acquire 25 Airbus EC145T2s. Waypoint and other helicopter companies are growing like Georgia kudzu and are being backed by some smart money, including institutional investors such as Goldman Sachs. From its formation in 2013 through this May, Waypoint had acquired a portfolio of 37 helicopters worth $400 million and placed all of them.
Helicopter manufacturers like leasing. Leasing companies often make large buys, bringing added demand predictability to the assembly line, especially in uncertain economic times. The leasing companies usually get a volume discount that shows up on their bottom line. They also often are in the enviable position of monopolizing a manufacturer's output during economic boom times.
Leasing and safety intersect on several fronts. In many cases, leasing allows operators to free up capital that would otherwise be tied up in accumulated equity in the helicopters to grow or improve their businesses. It also allows them to operate a newer fleet with all the modern safety advances and turn that fleet over on an accelerated basis.
Leased helicopters also are less likely to suffer from neglectful maintenance as lease covenants frequently contain requirements that helicopters and engines be enrolled in flight-hour maintenance plans either independently or as an added cost right on the lease. This protects the residual value of the helicopter for the leasing company, but it also makes it less likely that the ship will suffer a catastrophic failure related to skipped or incomplete maintenance.
Waypoint, for example, recently inked a deal with helicopter engine-maker Turbomeca to provide engine support services to Waypoint's current and future customer base, including operators using Turbomeca's Makila 2A and 2A1 engines and Arriel 1S1 and 2S2 engines. The deal includes Turbomeca's monitoring of the engines and providing recommendations to operators "to improve engine reliability and performance."
That's good news for the crews and patients who fly in leased helicopters.

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The National Transportation Safety Board has issued a series of recommendations for helicopter operators, specifically those flying to or near oil platforms. The recommendations came as a result of several incidents and accidents that resulted from complete and partial turbine engine failures that were attributed to the ingestion of gas discharges from oil rigs.

The Bureau of Safety and Environmental Enforcement (BSEE), Helicopter Safety Advisory Conference (HSAC), the American Petroleum Institute, PHI, an oil platform helicopter operator that experienced an accident in 2011, and others have issued safety alerts and recommended practices to help mitigate the risks associated with the ingestion of methane gas emitted from oil platforms. However, the NTSB has found these measures insufficient to help prevent an accident.

While several federal agencies regulate various aspects of the oil and natural gas industry no federal agency specifically oversees the safety of helicopter operations to and from offshore oil platforms, the NTSB said. Therefore, NTSB recommends that BSEE take on this responsibility. The agency also recommends that the BSEE, U.S. Coast Guard, and the U.S. Department of the Interior work together to develop and implement systems and procedures for oil platform operators to mitigate the risks associated with the ingestion of gas discharges.

Furthermore, the NTSB has requested that API finalizes its revisions of Recommended Practice 2L, which addresses the venting of raw gases as it relates to helicopter operations.

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Environmentalists aren’t the only group complaining about the recent boom in hydraulic fracturing, or "fracking," in the U.S.

United Technologies Corp.’s Chief Financial Officer Gregory Hayes said in the industrial conglomerate’s post-earnings conference call with analysts that the company’s Sikorsky Aircraft unit is seeing some pressure in its helicopter business, given the impact that fracking has had on the offshore oil business.

"With fracking in the U.S. growing so significantly, we’re seeing less of the oil and gas exploration expansion, which had driven the big ramp-up in commercial helicopters," said Hayes.

The executive said there was still a market for the helicopters, as Sikorsky is expected to deliver 40 commercial S-92s this year, and "a couple more” next year.

"It’s just that we’re not seeing quite the same growth because of the prevalance of fracking here in the U.S.," Hayes said.

The explosive growth in fracking has been a boon for the economies of several states, and has helped lower oil prices and reduce the U.S. reliance on foreign supply, but environmental groups have worried that it creates a greater greenhouse gas footprint.

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Also, the EuroCrap175

Nooby, because the EC175 is a POS.

Actually Sikorsky ain't seeing quite the same growth because their helicopters just don't cut it.

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And whilst you’re feeling bitchy, how about you wade into the YUH-60A thread and tell us all how crap the Blackhawk is, the saviour of many a wounded British serviceman out in the Stan and ‘The chariot of choice’ for air transportation of British flag officers in country.

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