PIF’s The Helicopter Co. signs LoI for up to 60 Bombardier jets

Logo of The Helicopter Company

The Helicopter Company, a wholly owned subsidiary of the Public Investment Fund (PIF), signed a Letter of Intent (LoI) for up to 60 Bombardier jets, including a firm order for 12 aircraft.

The LoI includes a firm order for 12 aircraft, consisting of five Challenger 3500 jets, five Global 5500 jets, and two Global 8000 jets. The agreement also provides options to purchase an additional 48 aircraft.

The strategic expansion into fixed-wing operations builds on the company’s existing rotorcraft operations in the Kingdom. It signals a shift into fixed-wing business aviation for jet charter and management, with the operator entering an entirely different aircraft segment, according to a statement.

With the launch of this new operational business line, the company is entering the business aviation sector as an extension of the growth journey it has pursued since its establishment in 2018. The new business line aims to meet the growing demand for private aviation and general aviation services, driven by the expansion of the tourism sector in the Kingdom, the growth of economic activity, the emergence of new destinations, and in response to the increasing demand for business aviation services in the Kingdom, it added.

The company also confirmed that the fleet will include aircraft that combine efficiency, long-range flight capability, and the highest levels of passenger comfort, across the mid-size, long-range, and ultra-long-range aircraft categories, contributing to the development of a modern fleet that meets the needs of both the Saudi and regional markets.

In March 2019, the PIF launched the Kingdom’s first commercial helicopter operator to offer private air transport and tourist trips within major cities across the country. In addition, the company aims to cater to rising demand in luxury tourism and urban aerial transport.