PIF launches Saudi Arabia’s first commercial helicopter company

11/03/2019 Argaam

The Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, on Monday announced the launch of “The Helicopter Company”, the Kingdom' first national commercial helicopter operator.

 

The company will provide private transportation services within the main cities as well as tourist trips to various attractions around the Kingdom, the PIF said in a statement.

 

Set up with an initial capital of SAR 565 million, The Helicopter Company will cater to emerging demand in luxury tourism and untapped existing demand for urban aerial transportation.

 

In addition, the new venture will provide access to remote destinations and a high-end experience on a par with other global destinations, the statement added.

 

The launch of the company is in line with PIF’s strategy to generate sustainable returns, to establish and develop new sectors in Kingdom as part of the Vision 2030 program.

 

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