A helicopter company owned by Saudi Arabia’s sovereign wealth fund has signed an agreement with Airbus to purchase 10 H125 helicopters.
The move by The Helicopter Company (THC), which is owned by the kingdom’s Public Investment Fund (PIF), is part of a plan to develop commercial operations in the country related to tourism and aerial work, such as filming, banner towing and surveying, it has been reported.
Arnaud Martinez, chief executive of THC, said: “By signing this agreement, THC has taken a massive step in expanding its fleet and implementing its ambitious operational plan.
“We are proud to be contributing to the advancement of Saudi Arabia’s tourism and aviation industries through our innovative air transport services that guarantee passengers a one-of-a-kind experience to relish the beauty of the Kingdom from above,” he added.
The PIF is an important cog in Saudi Arabia’s economic diversification efforts away from oil and into tourism, entertainment and other areas.
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