The Department for Transport has confirmed the contract to run the UK's search-and-rescue helicopter service has gone to the US-headquartered Bristow Helicopters.
The plans to privatise search and rescue helicopters were laid originally out by the Labour government in 2006.
The plans were controversial, and designed to replace the ageing Sea Kings that were currently in use.
Soteria SAR was announced as the frontrunning bidder in February 2010, but a year later it was prevented from acquiring the contract due to several issues with the conduct of their bid team, as well as forming part of the coalition government's spending review.
The Sea King helicopter has been in service for over four decades, with a distinguished history with the Search and Rescue service as well as other assignments.
- The Sea King has operated in 10 wars and been involved in 15,000 rescue operations
- It has saved more lives than any other aircraft
- It is reportedly Prince William's favourite aircraft
The government is set to announce that Britain's Search and Rescue service is to be sold off to an American firm.
Up until now, the operation has been run by the RAF, Navy and Coastguard Agency.
The firm will actually be awarded two contracts, because the service has been separated into two parts operating different types of helicopter.
An announcement is expected just before the stock market opens in the morning.