Caverton Acquires New Helicopter, Fleet Now 9

CAVERTON  Helicopters Limited has announced the acquisition of another AW139 helicopter.

According to  statement by the company, this delivery brings the total number of AW139 helicopters to nine in its  fleet.

The statement reads:

“The aircraft with registration number 5N-BSG, is in line with our fleet expansion plans and it enables us to adequately support our existing contracts as a leading provider of aviation logistics services to oil and gas multinationals within and outside the country.”

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With a shift in strategy from partnerships with foreign helicopter firms to sole participation, Caverton has come of age over the last ten years. Bringing our own aircraft gives us more control, increases efficiency and ultimately improves our bottom-line. We are primed to continue to use the AW139 to service the oil and gas industry in Nigeria.”

Milestones

In 2010, Caverton Helicopters edged out foreign operators to win a multi-million dollars, multi-year contract from Shell Petroleum Development Company for the supply and operation of six helicopters.

A seventh helicopter was added last May. Won after a rigorous competitive bidding, it is on record as the biggest contract ever awarded by the oil multi-national to an indigenous company.

Last year, the firm started its first international operation after it won the contract to provide passenger transfer and pipeline surveillance services to the Cameroon Oil Transport Company (COTCO), a subsidiary of ExxonMobil.

In June this year, the company signed an agreement with CAE, a Canadian firm, for the construction and operation of the first commercial flight simulation centre in Africa.

This centre will also double as maintenance repair and overhaul facility and is in line with our vision is to be a one-stop-shop for training and logistics services in Sub-Saharan Africa.

Caverton currently trades at N3.5 and has a year low and high of N3.44 and N9.50 respectively. It has lost 63% since its year high.

Source: TheNation