Date:05/01/2007 URL: http://www.thehindubusinessline.com/2007/01/05/stories/2007010503250200.htm

Back Global Vectra buys 3 Bell copters

Our Bureau

Mumbai, Jan. 4

Global Vectra Helicorp Ltd (GVHL), a part of the UK-based Vectra group, has acquired three new Bell 412 helicopters for $22.5 million, the company said in a statement on Thursday. The acquisition has been funded through equity and lease finance. Two of three helicopters will be deployed to serve Reliance Industries Ltd.

The helicopters are identical to the existing fleet of 15 Bell 412s, which seat two pilots and 13 passengers. The offshore air logistics industry in India has a total strength of 39 helicopters. "After this purchase we have increased our market share to 46 per cent," Lt. Gen. (Retd.) S.J.S. Saighal, Chairman, Global Vectra Helicorp Ltd, said in the statement. "GVHL is planning to increase its fleet to 29 helicopters by 2009 and we also intend tapping the deep sea air logistics market which is the next big opportunity."