Basta Holdings signs LOI with Heliflight PERU SAC to provide ACMI leasing of helicopters through joint venture

Basta Holdings, an aviation services and logistics management company, signed a Letter of Intent (LOI) with Heliflight PERU SAC to form a joint venture that will provide ACMI leasing of helicopters throughout Peru. The parties have ninety days to formalize their understanding into a definitive written agreement and one hundred twenty days to close the transaction. Heliflight PERU SAC is an aviation company based in Lima that provides Air Transport Service in Special Air Transport and aerial work geared toward the oil, mining and hydropower sector throughout Peru. Once the joint venture is finalized, the established entity will be able to bid on Peruvian Government contracts via Heliflight PERU’s Air Operator’s Certificate. The Company’s new joint venture will provide ACMI (aircraft, crew, maintenance and insurance) leasing of MI-17, MI-8-MTV1 and MI-117E helicopters in Peru to provide logistical support, internal and external air cargo for projects that require the transport of highly valuable cargo and passengers. These projects will include, but are not limited to oil, gas, and mining exploration, construction and emergency air rescue and evacuation operations. Basta Holdings projects that if this new joint venture comes to fruition, it will generate substantial revenues for the company.