18-Mar-2019 Source: Public Investment Fund
The Public Investment Fund (PIF) announces the launch of The Helicopter Company, the first national commercial helicopter operator in Saudi Arabia.
The Company will provide private transportation services within the main cities of Saudi Arabia as well as tourist trips to various attractions around the Kingdom.
The Helicopter Company has been created with initial capital of SAR 565 million and will cater to emerging demand in luxury tourism as well as untapped existing demand for urban aerial transportation. It will be instrumental in meeting demand for helicopter transportation within major cities in Saudi Arabia as well as supporting the development of the wider aviation sector. In addition it will provide access to remote destinations and a high end experience on a par with other global destinations.
The launch of The Helicopter Company is in line with PIF’s strategy to generate sustainable returns, to establish and develop new sectors in Saudi Arabia, as well as to support the realization of Vision 2030 by acting as a catalyst for Saudi Arabia’s nascent tourism sector.