It is company policy that we get high value assets like our helicopter revalued externally every five years. (We do it internally every year or when something changes – like investments or impairments.) So in May 2017, just after the 5th anniversary of its acquisition, we had the helicopter revalued.
At its last valuation, in 2012, the helicopter was operated by a charity and valued on the Tanzanian register. It had close engineering support from its pilot, and distant quality engineering supervision from NAC in South Africa. It was imported into South Africa at that valuation, which value was not contested by the South African Revenue Service (SARS) at import.
In May 2017, the helicopter had had five years worth of close engineering supervision on the South African register. So, at its second valuation we were delighted to report that the value of the helicopter had increased by 90% over the 5 years. This is about a seventh of its value every year (13.7% compound per year). And this increase was not contested by our quality insurers – the Aircraft Risk Company. If you want to see the history of this change then why not look at our results.
That revaluation shows the benefit and value of using quality engineers for our maintenance, and reaffirms our values. Both Nicholson Helicopters and Greystones Aviation have given us that value. We will take some credit too, not just in the selection of great engineers, but also in some wise investments in the helicopter.
Yes, it means we have to increase our insurance cover, but it gives us a great platform to support you. And it gives you a great platform to lease if you wish. If you want a referral to our great support team, or want to use the helicopter, why not contact us?