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Business Air News Bulletin
Business Air News Bulletin

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Airlift AS

NHV Noordzee Helikopters Vlaanderen

Press Release

Issued by Airlift AS.

August 28, 2014

NHV and Blueway to merge

NHV and Blueway are pleased to announce that they have signed a merger agreement to create a new top-tier player in the helicopter services industry. Following this transaction, NHV will buy Blueway's stakes owned by Reiten & Co Capital Partners and Helicopter Transportation Group. The proposed transaction is conditional on receipt of required regulatory approvals, and other customary closing conditions.

NHV and Blueway have striking similarities in activities: a strategic presence in the North Sea and west Africa with a focus on the offshore industry and a shared customer base. Over the last few years, they have formed strategic alliances including shared hangar facilities in Norwich and Den Helder. These joint efforts have proven to be valuable for both companies. The combination of the two helicopter operators will lead to a strategically better position in the market.

The new group will form a large European-owned helicopter company with approximately 650 employees in several countries across the globe with a combined turnover of more than USD 270 million in 2013.

The new group's focus for the near future is to maintain and extend its customer base around the North Sea in Norway, Denmark, The Netherlands, Belgium and UK, in France, as well in Africa, starting from its existing bases in Ivory Coast, Ghana and Nigeria.

The group operates a diverse fleet of 59 helicopters in total (EC225, AS332L2, AS332C, AW139, EC155B1, AS365, EC145, MD Explorer and AS350) with a solid order book of 19 helicopters (one EC225, 16 EC175, two AW139) for the coming three years.

Eric Van Hal, ceo and co-shareholder of NHV, says: “We are very pleased to welcome the people of Blueway to our group. We decided to partner with Blueway as we have been impressed by their commitment to their customers, industry knowledge and experience. We also share a common set of values and ambitions. Joining forces with Blueway provides us with a large and robust platform for our further expansion. Our goal is to serve our global customers in the safest, most reliable manner, and affording them the flexibility and human approach they deserve. This in combination with our order book of 16 next-generation EC175 will accelerate our plans to achieve our ambition of top tier player in our industry. Ardian's support and expertise have been greatly beneficial to NHV and will help accelerate our plans to achieve our ambition of becoming a leader in our industry.”

Ceo of Blueway, Johnny Skoglund says: “This is a major milestone in Blueway's near 30-year-long history. Through our complimentary geographical presence, increased scale and innovative cultures, we can become the additional top- tier player which our customers have been searching for. Our customers and partners will benefit from the additional flexibility and commitment of both companies to safety, reliability and compliance to the most stringent standards.”