News Articles
MD HELICOPTERS REDUCES AOGs BY 90 PERCENT
MESA, Ariz. September 14, 2006 - MD Helicopters, Inc. (MDHI) today announced it has reduced AOGs aircraft (Aircraft-On-Ground) by 90 percent since the company's July 2005 acquisition by Patriarch Partners, LLC, a $5 billion private investment firm which holds a controlling interest in MDHI.
MDHI has reached another significant milestone in that it now able to provide both routine and higher priority parts on the same day the order is received in over 80 percent of the cases. The company has also been able to fill 90 percent of customer AOG orders in less than 72 hours.
"This announcement confirms the commitment MD Helicopters is making to rebuild the high level of customer service and operator feedback critical to supporting the large MD Helicopter operating fleet," said Jeffrey L. Snyder, General Manager, Customer Support of MD Helicopters, Inc.
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About MD Helicopters:
MD Helicopters is a leading manufacturer of commercial and military helicopters. The MDHI family of rotorcraft is world renowned for their value, versatility and performance. The MD Helicopters family includes the twin-engine MD Explorer®, and single engine versions of the MD 600N®, MD 520N®, MD 500E® and MD 530F®. The NOTAR® system for anti-torque control is the exclusive property of MD Helicopters. The Company is based in Mesa, Arizona.
About Patriarch Partners, LLC
Patriarch Partners, LLC is an investment firm in New York and Charlotte, North Carolina which together with its affiliates, provides portfolio management services and serves as investment advisor to multiple leveraged funds and a private equity fund. Founded in 2000 by Lynn Tilton, Patriarch provides innovative financial solutions, strategic direction and operational expertise to companies undergoing periods of pervasive change. Patriarch currently monitors credit facilities in respect to approximately $5 billion dollars of assets under its management, including equity positions (majority and minority) in more than 65 companies. Lynn Tilton serves as Chairman of the Board of MDHI. Funds managed by Patriarch Partners own a majority and controlling interest in MDHI.
Contact: Debbie Jones, MDHI
(480) 346-6474
debbie@mdhelicopters.com
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