Gulf Helicopters to add nine to fleet by 2015

Gulf Helicopters to add nine to fleet by 2015 1 May, 11, Source: HeliHub.com

Gulf Helicopters have announced plans to invest about 500M Qatari Riyals on new aircraft over the next four years – approx US $137.4M in today’s money.  In parent company Gulf International Services’ five-year business plan released this week, they state that nine new helicopters would join their fleet by 2015 and that they expected demand to remain high for helicopter services in the MENA region’s oil and gas industry over the next few years.  We assume that this includes the company’s purchase of five AW139s which we reported on in February of this year.

Gulf Helicopters Company was originally incorporated in 1970 under the name of Gulf Helicopters Limited as a subsidiary of British Overseas Airways Corporation. The company was subsequently acquired by Gulf Air, which then sold it to Qatar Petroleum in 1998. QP transferred its 100% shareholding to GIS in 2008.

GHC has one subsidiary, Al Maha Aviation Company, in which it has a 92% stake and effective control over the remainder, a deemed 36% investment in an associate, United Helicharters Private Limited (incorporated in India), and one branch office located in West Sussex, United Kingdom. The company’s authorised and issued share capital is QR66mn.

Note: MENA = Middle East and North Africa

Jeremy Parkin – HeliHub.com

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