The Helicopter Company signs Letter of Intent with Bombardier to buy as many as 60 business jets

• The Helicopter Company, owned by PIF, expands into business aviation as the natural next step in its growth
• THC and Bombardier sign Letter of Intent at U.K.’s Farnborough International Airshow toward a firm order for 12 business jets and options for an additional 48
• PIF’s Travel, Tourism & Entertainment ecosystem, which includes THC, is positioning Saudi Arabia as a global aviation hub

The Helicopter Company (THC), Saudi Arabia’s leading commercial helicopter operator, announced its strategic expansion into chartering and managing business aviation jets. THC and Bombardier signed a Letter of Intent (LOI) toward a firm order for 12 aircraft, including five Challenger 3500s, five Global 5500s and two Global 8000s, with purchase options for 48 additional jets from among these same models.

The signing ceremony took place at the Farnborough International Airshow in the United Kingdom. The ceremony was attended by Captain Arnaud Martinez, CEO of THC; Muhammad Ovais Yousuf, Head of Aviation & Security for PIF’s MENA Investments Division; and leadership from Bombardier, including CEO Éric Martel and Chairman Pierre Beaudoin.

THC, a PIF company, enters the business aviation sector as a natural extension of its development since its founding in 2018. The new business stream is designed to meet growing demand for private and general aviation, driven by Saudi Arabia’s expanding tourism sector, business activity and emerging destinations.

PIF’s Tourism, Travel & Entertainment ecosystem, including THC, is accelerating Saudi Arabia’s economic diversification and increasing the country’s travel, leisure and cultural offerings. Aviation is central to the ecosystem. In addition to THC, PIF has launched the new national airline Riyadh Air and owns the global aircraft leasing company Avilease.

“As a portfolio of companies, THC was always poised to expand beyond rotary-wing aviation into fixed-wing operations,” said Captain Arnaud Martinez, Chief Executive Officer of THC. “Our vision has always been to become the General Aviation Champion from Saudi Arabia to the world.”

Éric Martel, President and Chief Executive Officer, Bombardier, said: “We are honored that The Helicopter Company has selected Bombardier to support its future fleet ambitions. This is a powerful symbol of our companies’ shared customer-centric DNA and vision for economic growth in the region. This signing also represents a significant endorsement of our aircraft, our people and our long-term commitment to supporting growth in the Kingdom of Saudi Arabia.”

THC’s new business segment addresses the growing demand in Saudi Arabia's business aviation market. By combining a unique identity with a highly personalized, customer-centric experience, THC aims to become the region's leading business aviation operator and the national carrier of choice in private charters and business aviation.

THC’s fleet of business jets will combine efficiency, long-range capability and premium passenger comfort across the super-midsize, long-range and ultra-long-range segments, to establish a modern and highly capable aircraft fleet, built to match Saudi and regional demand.

“Every investment we make is guided by the same philosophy - to build an integrated aviation ecosystem that supports Saudi Vision 2030 through innovation, operational excellence and long-term value creation.” Martinez said.

“Fleet commonality, advanced aircraft technology and a commitment to more efficient and sustainable operations are fundamental to that approach, enabling us to deliver the highest standards of safety and service while positioning Saudi Arabia at the forefront of modern aviation."

Martel added: “Our team looks forward to working hand in hand with THC to support their ambitions and success throughout the lifecycle of their soon-to-be extensive, bespoke fleet. Through planned local investments dedicated to supporting THC’s operations and the strength of our global support network, we are committed to delivering the resources, expertise and service wherever their operations take them.”

This foundation now underpins THC's expansion into fixed-wing business aviation, supporting the growth of Saudi Arabia's general aviation sector while attracting investment and advancing localization to build a robust aviation ecosystem in the nation.