GLOBAL: The Helicopter Company (THC), owned by Saudi Arabia’s Public Investment Fund (PIF), acquired a 76% majority stake in African rotary-wing aviation services Heliconia for an undisclosed amount. The acquisition will enable THC to expand into North and West Africa, plus gain entry into the offshore oil platform sector there.
THC also inked a deal with Riyadh Air, another PIF-owned entity and the Kingdom’s new national airline, to offer premium travel and last-mile connectivity across Saudi Arabia with helicopter transfers from King Khalid International Airport to major destinations within Riyadh and across the Kingdom.
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