Mark Harrold - Sydney Helicopters
Sydney Helicopters is the longest-running commercial helicopter operator in Sydney – and foreign exchange is a big part of their business.
How did BOQ back Sydney Helicopters?
For more than 30 years Sydney Helicopters has offered corporate and private charters, aerial crane and lifting services, aerial surveys, photography, scenic flights around Sydney Harbour and tours to the Blue Mountains, Hunter Valley, Central Coast and Southern Highlands. Sydney Helicopters has also provided flood, bushfire and emergency relief support to government agencies including the NSW State Emergency Service, Rural Fire Service and NSW National Parks and Wildlife Service.
Unlike their competitors, Sydney Helicopters own and maintain their own fleet of aircraft. With a dedicated helicopter maintenance facility at Parramatta Heliport in Western Sydney and licensed helicopter engineers, they rely on importing parts from overseas suppliers and are backed by BOQ Financial Markets with a wide range of foreign exchange solutions.
“We have requirements to purchase components from overseas that are pegged to the US dollar every month, so we need to have the confidence to know what we have to budget for” said Sydney Helicopters’ Managing Director & Owner, Mark Harrold.
Like many other SME businesses, Sydney Helicopters wanted greater control and certainty over their foreign exchange, interest rate and trade finance risks, so turned to BOQ for help.
I feel that we’ve had a very good connection at a personal level, and that we’re not just a number. They understand my business, so it’s made life much easier than it has been in the past with previous financiers"
After exploring a range of foreign exchange and trade finance solutions available, the Financial Markets team worked with BOQ Penrith to provide Mark with a tailored foreign exchange solution, designed to suit Sydney Helicopters’ unique requirements.
“BOQ provided us with a foreign exchange capability, so if we believe the market’s in a good place today with the Australian dollar we can fix, say a month in advance at a particular price,” Mark said.
Reflecting on the personalised approach the team took to finding a solution for him, Mark said "I’ve been very happy with BOQ. I feel that we’ve had a very good connection at a personal level, and that we’re not just a number. They understand my business, so it’s made life much easier than it has been in the past with previous financiers.”
