Asian Sky Quarterly 2022 Q4

MENA PROFILE: HELICOPTER
to reduce the risks associated with asset ownership and depreciation,
whilst still meeting operational needs by leasing helicopters instead.
Other companies across the oil and gas sector have also been looking
to reduce costs and improve efficiency, which has similarly led to the
divestment of non-core assets and a focus on improving their core
operations.
The leasing agreements were made with Milestone Aviation Group
Limited, which is a world leader in helicopter leasing and has been
leasing helicopters to ARAMCO Aviation since 2016. Through the deal,
the company was able to update and grow its fleet of helicopters with
newer AW139s and was also offered Airbus Eurocopter H145 series
helicopters to replace its fleet of A109Es.
Seller Location - sold to MENA
Medium
Light Twin
Single
MIDDLE EAST
0 2 4 6 8 10 12 14
16
12 3
WESTERN EUROPE
NORTHERN AMERICA
SOUTHERN EUROPE
NORTHERN AFRICA
NORTHERN EUROPE
SOUTHERN AFRICA
EAST ASIA
GREATER CHINA
3 1
3 1
1 1
2
1 1
1 1
1
1
Note: Only transactions where the buyer and seller country are known are included.
In the three-year period to date, a total of 33 Medium, Light Twin and
Single turbine helicopters were sold to the MENA helicopter fleet. Half
of all transactions were intra-MENA movements. Saudi Arabia sold the
most units, with nine, while the United States sold four units.
Buyer Location - sold from MENA
Medium
Light Twin
Single
MIDDLE EAST
0 2 4 6 8 10 12 14
16
11 3
NORTHERN AFRICA
OCEANIA
WESTERN EUROPE
SOUTHERN EUROPE
WESTERN AFRICA
EASTERN EUROPE
NORTHERN AMERICA
1 2
1 1
1 1
1
1
1
1
Note: Only transactions where the buyer and seller country are known are included.
In the same period, 25 Medium, Light Twin and Single turbine
helicopters were sold from the MENA helicopter fleet, and 68% of all
transactions were intra-MENA movements. Bahrain had the most sales
among the MENA countries with six, followed by the UAE and Saudi
Arabia, both of which had three.
Different from the business jet market, helicopter transactions
occurring during times of economic uncertainty are more susceptible
to a range of external factors that can affect the demand for helicopters
and the ability of buyers and sellers to complete transactions.
Some of the key external factors that could impact the success of
transactions include the economic conditions, changes in the regulatory
environment, geopolitical risks, the rise in fuel prices, and technological
advances (through new aircraft design and retrofitting of existing aircraft).
FOURTH QUARTER 2022 — GLOBAL SKY QUARTERLY | 19