Bloomberg/Chris Ratcliffe

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Saudi Arabia’s PIF launches commercial helicopter company

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The company will offer private air transport within the country's major cities as well as tourist trips to other parts of the country.

Tuesday 12, March 2019 BY KUDAKWASHE MUZORIWA

Saudi Arabia's Public Investment Fund (PIF) has launched the Kingdom's first commercial helicopter operator with an initial capital of SAR 565 million ($151 million).

In a statement, PIF stated that the launch of The Helicopter Company is in line with the company’s strategy to generate sustainable returns, to establish and develop new sectors in Saudi Arabia in support of Vision 2030.

The Kingdom’s sovereign wealth fund is supporting government plans to diversify its economy, with investments in renewable energy, infrastructure and entertainment.

TAGS : The Helicopter Company, PIF, Vision 2030

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