Saudi Helicopter Company Prepares to Launch Fleet

AW139 Helicopter at the first Saudi International Exhibition at al-Thumama Airport (Bashir Saleh)
AW139 Helicopter at the first Saudi International Exhibition at al-Thumama Airport (Bashir Saleh)
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Saudi Helicopter Company Prepares to Launch Fleet

AW139 Helicopter at the first Saudi International Exhibition at al-Thumama Airport (Bashir Saleh)
AW139 Helicopter at the first Saudi International Exhibition at al-Thumama Airport (Bashir Saleh)

The first national commercial helicopter operator in Saudi Arabia has showcased its chopper during the first Saudi International Exhibition at al-Thumama Airport, north of Riyadh.

The unveiling came two days after the Public Investment Fund (PIF) announced the launch of The Helicopter Company.

The chopper, the first in the company’s plan for a bigger fleet, will soon begin its trips between Saudi cities, according to the firm’s Marketing and Communication Director, Mona Kurdi.

Saudi Arabia is in the implementation phase of several giant projects, most notably the Neom, Amaala, Red Sea and al-Qidiya, in several cities in the central, western and northern regions.

It also plans to issue a tourist visa for foreigners to benefit from this vital sector that is expected to provide thousands of jobs and support the local economy.

On Monday, PIF announced the new company with initial capital of $150 million, saying it will cater to emerging demand in luxury tourism as well as untapped existing demand for urban aerial transportation.

Kurdi told Asharq al-Awsat that the company's operations will include the central, northern and western regions, saying the firm will provide access to remote destinations and a high-end experience on par with other global destinations.

The company also provides safe access to long-haul destinations and enhances economic opportunities within the tourism sector, she added.

The helicopter in question was the AW139 with five soft seats, and stamped with the company’s name both in Arabic and English. 

The Fund indicated that the firm aims at maximizing sustainable returns, launching and developing new sectors, as well as supporting efforts to achieve Saudi Vision 2030.

The budding company seeks to meet the growing demand within Saudi Arabia for luxury tourism and air transport services. 



UAE, Australia Sign Comprehensive Economic Partnership Agreement

UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi (L) and Australian Minister for Trade and Tourism and Special Minister of State Don Farrell shake hands during the signing of the Australia-UAE Trade Agreement at Parliament House in Canberra, Australia, 06 November 2024.  EPA/LUKAS COCH
UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi (L) and Australian Minister for Trade and Tourism and Special Minister of State Don Farrell shake hands during the signing of the Australia-UAE Trade Agreement at Parliament House in Canberra, Australia, 06 November 2024. EPA/LUKAS COCH
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UAE, Australia Sign Comprehensive Economic Partnership Agreement

UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi (L) and Australian Minister for Trade and Tourism and Special Minister of State Don Farrell shake hands during the signing of the Australia-UAE Trade Agreement at Parliament House in Canberra, Australia, 06 November 2024.  EPA/LUKAS COCH
UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi (L) and Australian Minister for Trade and Tourism and Special Minister of State Don Farrell shake hands during the signing of the Australia-UAE Trade Agreement at Parliament House in Canberra, Australia, 06 November 2024. EPA/LUKAS COCH

The United Arab Emirates and Australia have signed a Comprehensive Economic Partnership Agreement (CEPA) hat removes or reduces tariffs, lifts barriers to trade and enhances market access, UAE Minister of State for Foreign Trade Thani Al Zeyoudi said on X on Wednesday.

It aims to boost the bilateral trade threefold from $4.23 billion in 2023 to $15 billion by 2032, the minister said.

The UAE and Australia finalized negotiations on CEPA in September.

The signing of the agreement built on the growing economic relations between the UAE and Australia, with bilateral non-oil trade reaching US$2.3 billion in H1 2024, an increase of 10 percent from H1 2023.

The UAE is Australia’s leading trade partner in the Middle East and its 20th largest partner globally. As of 2023, the two countries have also committed a combined $14 billion to each other’s economies, with more than 300 Australian businesses operating in the UAE in sectors such as construction, financial services, agriculture, and education.

A CEPA with Australia will be a significant addition to the UAE's foreign trade network, which is helping to propel non-oil foreign trade towards its target of $1.1 trillion by 2031.