Helicopters Company Signs Letter of Intent to Establish a Fleet of Up to 60 New Jets

Logo of The Helicopter Company

The Helicopter Company, a subsidiary of the Public Investment Fund and commercial helicopter operator, today signed a letter of intent with Bombardier of Canada as a preliminary step to finalize a firm order for 12 aircraft, including five Challenger 3500s, five Global 5500s, and two Global 8000s, with options to purchase an additional 48 aircraft of these models. The Helicopter Company said in a statement that this is part of its strategy to expand in the business aviation sector with fixed-wing aircraft, to provide jet rental and management services, noting that the signing took place during the Farnborough International Airshow in the United Kingdom. It explained that with the launch of this new operational track, the company enters the business aviation sector as an extension of the growth path it began since its establishment in 2018, pointing out that the new business track aims to meet the growing demand for private and general aviation services, driven by the expansion of the tourism sector in Saudi Arabia, the growth of economic activity, the emergence of new destinations, and in response to the growing demand for business aviation services in the Kingdom. It affirmed that the fleet will include aircraft combining efficiency, long-range capability, and the highest levels of passenger comfort, across medium-size, long-range, and ultra-long-range aircraft categories, contributing to building a modern fleet that meets the needs of the Saudi and regional markets. It is noteworthy that The Helicopter Company (THC) was launched by the Public Investment Fund, and it is the first local commercial helicopter operator, having commenced operations in mid-2019. The company currently has over 60 helicopters, providing services to a variety of sectors, including air ambulance, aerial work, heavy lift services, private transport flights, and tourist trips across the Kingdom.

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