RIYADH: Saudi Arabia’s Public Investment Fund–owned The Helicopter Co. has acquired a 76 percent majority stake in Heliconia, one of Africa’s leading rotary-wing aviation services operators. 

The deal, signed during the Dubai Airshow, gives a chance to explore new markets, join industry developments, and build partnerships across the continent, according to a press release. 

The acquisition also supports PIF’s goal of developing new sectors that contribute to Vision 2030 and deliver sustainable returns. It further complements Saudi Arabia’s National Logistics Strategy, which aims to transform the Kingdom into a global hub by expanding connectivity and integrating multiple modes of transport.  

Arnaud Martinez, CEO of THC, said: “This acquisition will enable THC to expand into North and West Africa, jump-start our entry into the offshore sector, and further strengthen our position as the catalyst for the creation of Saudi Arabia’s global general aviation footprint.” 

He added: “The shared commitment with Heliconia to delivering quality services and setting the highest safety standards highlights the significance of this partnership for both parties. And while THC will benefit from Heliconia’s expertise in offshore services in Africa, it will allow Heliconia to gain access to THC’s strategic value proposition and promising growth opportunities.” 

Daniel Sigaud, president and CEO of Heliconia, said: “We are delighted to embark on an exciting new chapter of growth for Heliconia, fueled by this partnership and integration with THC. Together, we will advance the rotor-wing aviation sector’s focus on innovation and ambitious expansion.” 

THC noted that the acquisition will help advance PIF’s economic diversification goals by enhancing its services, strengthening the Kingdom’s aviation sector, and supporting the growth of Saudi Arabia’s tourism, entertainment, sports, and cultural industries. 

The company also signed a memorandum of understanding with Riyadh Air, another PIF-owned entity and the Kingdom’s new national airline, during the Dubai Airshow. 

The partnership aims to improve premium travel and last-mile connectivity across Saudi Arabia by offering Riyadh Air passengers with seamless helicopter transfers from King Khalid International Airport to major destinations within Riyadh and across the Kingdom once commercial services commence. 

Similar to high-end services offered in major global cities such as New York and Nice, the collaboration is expected to transform the passenger experience by offering fast, comfortable, and personalized transfer options. 

“THC continues to unlock new modes of mobility that deliver high standards of safety, comfort, and convenience,” Martinez said. “By partnering with Riyadh Air, we are reinforcing national integration in the aviation sector and contributing to PIF’s mandate to strengthen strategic sectors and support Saudi Vision 2030.” 

Tony Douglas, CEO of Riyadh Air, added: “At Riyadh Air, our commitment extends beyond traditional air travel; we are building a world-class travel experience that reflects the Kingdom’s ambition and growing global presence. Our collaboration with THC embodies a shared mission to advance premium mobility solutions that contribute to the transformation of the national aviation landscape.”