Global AirParts, a provider of used and serviceable materials for Sikorsky S-76 helicopters, commenced a part out project with helicopter lessor LCI.

“Given where values are for some helicopter types, smart asset owners can find a better return on their capital by having the aircraft disassembled and marketed for parts. This is all that we do,” Mike Pirang, founder and CEO of Global AirParts, said.

“Global AirParts is a respected player in the helicopter sector, and they have brought their considerable experience to this project and handled it with great skill and efficiency,” Mike Platt, CEO of LCI, said.

Global AirParts has completed almost two dozen part outs of the S-76. Working with aircraft it acquires as well as operator and lessor owned machines, Global AirParts disassembles and sells lower cost spare parts to its worldwide customer base. Global AirParts recently expanded its offerings to include the AW139 and is working to add other types to its inventory.

LCI’s fleet comprises approximately $1 billion of assets, focused on medium and super medium helicopters manufactured by helicopter OEMs, including Leonardo, Airbus and Sikorsky. These are in operation across four continents in multiple sectors, including emergency medical services, offshore wind, search and rescue, maritime pilot transfer, and oil-and-gas transportation.

Since its inception in 2004, LCI has acquired fixed wing and rotary aircraft with a value of around $6 billion. LCI is owned by Libra Group, an international business group with 30 subsidiaries active in 35 countries across six continents.