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Saudi PIF Announces Launch of The Helicopter Company

Saudi PIF Announces Launch of The Helicopter Company

Monday, 11 March, 2019 - 18:15
A general view of Riyadh, Saudi Arabia. (SPA)
Asharq Al-Awsat
The Public Investment Fund (PIF) announced on Monday the launch of The Helicopter Company, the first national commercial helicopter operator in Saudi Arabia, reported the Saudi Press Agency.

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.

Moreover, 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, establish and develop new sectors in Saudi Arabia and support the realization of Vision 2030 by acting as a catalyst for Saudi Arabia’s nascent tourism sector.

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