Richard Santulli announced today the launch of a new business jet and helicopter leasing company, Milestone Aviation Group, headquartered in Dublin, Ireland. Santulli in the mid-1980s founded fractional share company NetJets, which was sold in 1998 to Warren Buffett’s Berkshire Hathaway. Santulli left that company last year. He is now chairman of Milestone. Before launching NetJets, Santulli was in charge of equipment leasing for Goldman Sachs Leasing and founded helicopter leasing company RTS Helicopters. William Kelly, former CEO of NetJets Europe, is Milestone’s CEO.
Milestone is starting with $500 million of equity capital provided by The Jordan Company,a private equity firm. It is leading the investment team and partner Nautic Partners. Milestone will purchase aircraft selected by customers then lease the aircraft to the customer. The lease covers new, pre-owned and sale-leaseback transactions, and customers are responsible for all operating costs for the leased aircraft.
