The Helicopter Co., owned by the Public Investment Fund of Saudi Arabia, has acquired a majority of 76 percent stake in Heliconia, one of the largest operators of rotary-wing aviation services in Africa.
According to a press release, a deal signed at the Dubai Airshow is an opportunity to venture into new markets, participate in industry growth, and form partnerships within the continent.
The acquisition also enhances the objectives of PIF to come up with new areas under development that will advance Vision 2030 and generate long-term returns.
It also supports the National Logistics Strategy of Saudi Arabia, which is intended to make the Kingdom a global hub through the advancement of connectivity, as well as a combination of various modes of transport.
CEO of The Helicopter Company, Captain Arnaud Martinez, said, “This acquisition will enable THC to expand into North and West Africa, jump-start our entry into the offshore sector, and further strengthen our position as the catalyst for the creation of Saudi Arabia’s global general aviation footprint.”
He also stated that “The shared commitment with Heliconia to delivering quality services and setting the highest safety standards highlights the significance of this partnership for both parties. And while THC will benefit from Heliconia’s expertise in offshore services in Africa, it will allow Heliconia to gain access to THC’s strategic value proposition and promising growth opportunities.”
President and CEO of Heliconia, Daniel Sigaud, added, “We are delighted to embark on an exciting new chapter of growth for Heliconia, fueled by this partnership and integration with THC. Together, we will advance the rotor-wing aviation sector’s focus on innovation and ambitious expansion.”
THC reported that the acquisition will contribute to the economic diversification objectives of PIF through services expansion, development of the aviation industry in the Kingdom, and promoting the growth of the Saudi Arabian tourism, entertainment, sports, and cultural sectors.
Another memorandum of understanding signed between the company and Riyadh Air, another PIF-owned company, and the new national airline of the Kingdom, was also signed during the Dubai Airshow.
The partnership will enhance high-quality travel and last-mile connectivity in Saudi Arabia by providing Riyadh Air passengers with smooth helicopter transport between King Khalid International Airport and key destinations in Riyadh and throughout the Kingdom once commercial operations start.
Just like the premium services experienced in major international cities like New York and Nice, the partnership will revolutionize the passenger experience as the company will provide high-speed, comfortable, and personalized transfer services.
Martinez reported that “THC continues to unlock new modes of mobility that deliver high standards of safety, comfort, and convenience. By partnering with Riyadh Air, we are reinforcing national integration in the aviation sector and contributing to PIF’s mandate to strengthen strategic sectors and support Saudi Vision 2030.”
CEO of Riyadh Air, Tony Douglas, said that “At Riyadh Air, our commitment extends beyond traditional air travel; we are building a world-class travel experience that reflects the Kingdom’s ambition and growing global presence. Our collaboration with THC embodies a shared mission to advance premium mobility solutions that contribute to the transformation of the national aviation landscape.”
