PIF subsidiary to buy 120 Airbus helicopters

Airbus

The Helicopter Company (THC), a wholly-owned unit of the Public Investment Fund, has signed a framework agreement with European aviation giant Airbus to buy up to 120 helicopters.

The helicopters of various types will be delivered over the next five to seven years.

Part of the deal includes a firm order for eight H125s and 10 H145s that are converted options from an earlier contract, bringing THC’s Airbus fleet to 60, 25 of which are already in service. 

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The new H125 helicopters will support the delivery of THC’s range of services in areas including aerial work and tourism. The H145s will be used in various roles, including emergency medical services and corporate transport.

“Our relationship with THC started in 2020 with the first contract for 10 H125s,” said Bruno Even, CEO of Airbus Helicopters.

“Since then, it’s gone from strength to strength, moving beyond just helicopters to also look at how we can help pave the way for sustainable aviation fuel in the region.”

THC chief executive officer Arnaud Martinez added that the agreement will strengthen Saudi Arabia’s aviation sector and meet the changing needs of its growing customer base locally and globally.

Last year, the Saudi helicopter operator took delivery of its first ACH160 for Red Sea Global tourism operations. 

THC has been operating since mid-2019 and operates 47 helicopters.

In June 2023, state-owned military contractor Scopa signed a $6.7 billion deal with Airbus to manufacture civilian and military helicopters in the kingdom.