LONDON: A company owned by Saudi Arabia’s Public Investment Fund (PIF) has agreed to buy 10 H125 helicopters from Airbus as it broadens its tourism offering.
It is part of a plan by the Riyadh-based commercial operator The Helicopter Company (THC) to boost its fleet and roll out new services across the Kingdom “related to scenic tourism and aerial work such as filming, banner towing, and surveying.”
“THC has taken a massive step in expanding its fleet and implementing its ambitious operational plan,” said THC CEO Arnaud Martinez. “We are proud to be contributing to the advancement of Saudi Arabia’s tourism and aviation industries through our innovative air transport services that guarantee passengers a one-of-a-kind experience to relish the beauty of the Kingdom from above.”
Saudi Arabia is investing heavily in developing its tourism sector and last year started to issue tourism visas on arrival for the first time.
PIF unit buys 10 helicopters from Airbus in tourism push
https://arab.news/m4ma3
PIF unit buys 10 helicopters from Airbus in tourism push
- THC CEO Arnaud Martinez: THC has taken a massive step in expanding its fleet and implementing its ambitious operational plan
- Arnaud Martinez: We are proud to be contributing to the advancement of Saudi Arabia’s tourism and aviation industries through our innovative air transport services
Closing Bell: Saudi main index climbs to 10,485
RIYADH: Saudi Arabia’s Tadawul All Share Index edged up on Sunday, gaining 34.32 points, or 0.33 percent, to close at 10,484.59.
The total trading turnover of the benchmark index stood at SR2.59 billion ($690 million), with 168 listed stocks advancing and 87 declining.
The Kingdom’s parallel market Nomu also gained 100.37 points to close at 23,454.65.
The MSCI Tadawul Index advanced by 0.13 points to 1,377.44.
The best-performing stock on the main market was Nama Chemicals Co., whose share price increased by 9.98 percent to SR22.38.
The share price of Al Masar Al Shamil Education Co. rose by 9.15 percent to SR23.85.
Saudi Paper Manufacturing Co. also saw its stock price climb by 8.42 percent to SR57.95.
Conversely, the share price of Canadian Medical Center Co. dropped by 6.37 percent to SR6.03.
The stock price of Kingdom Holding Co. also declined by 3.16 percent to SR8.28.
In the parallel market, Alfakhera for Mens Tailoring Co. was the top performer, with its share price advancing by 16.40 percent to SR8.80.
On the announcements front, Theeb Rent a Car Co. said it had signed a long-term vehicle leasing services contract valued at SR110.4 million with Hungerstation Co.
Under the deal, Theeb will lease 2,000 vehicles to HungerStation for a period of four years starting from 2026, according to a Tadawul statement.
The statement added that the vehicles will be delivered in batches within the first six months from the contract start date, taking into consideration global logistical circumstances and procedures beyond the control of both the agents and the company.
The contract is expected to have a positive impact on the company’s financials from the first quarter of 2026.
The share price of Theeb Rent a Car Co. declined by 0.79 percent to SR37.80.
