Latest news with #TheHelicopterCompany
Arabian Business
07-08-2025
- Business
- Arabian Business
Diriyah Company, THC sign MoU to explore urban air mobility solutions
Diriyah Company has signed a Memorandum of Understanding (MoU) with The Helicopter Company (THC) to explore potential opportunities and the integration of advanced air mobility solutions within the Diriyah project, in a move aligned with Saudi Vision 2030. The agreement was signed by Jerry Inzerillo, Group CEO of Diriyah Company, and Capt. Arnaud Martinez, CEO of THC. The strategic collaboration supports Diriyah's ambition to become the world's premier cultural and tourism destination, targeting 50 million annual visitors by 2030. The MoU outlines a wide scope of collaboration, including strategic planning, regulatory alignment, and infrastructure development, aimed at assessing the potential incorporation of Urban Air Mobility (UAM) services into Diriyah's urban framework. The initiative also emphasises environmental and social sustainability, with plans to engage air transport operators, technology providers, and infrastructure developers. To initiate the collaboration, Diriyah Company and THC will establish a joint working group to assess opportunities and evaluate the potential impact of introducing urban air transport services within the project. If implemented, these services are expected to play a transformative role in the Kingdom's air mobility and tourism sectors. #DiriyahCompany and The Helicopter Company @THC_KSA have signed an MoU to explore Urban Air Mobility solutions, paving the way for sustainable, connected travel in #Diriyah. This collaboration supports our vision for 50 million visitors annually by 2030 and advances… — Diriyah Company l شركة الدرعية (@DiriyahCo) August 6, 2025 Commenting on the MoU, Inzerillo said: 'We are thrilled to partner with THC in this pioneering initiative, which marks a major step toward realising our vision of Diriyah as a world-class cultural and tourism destination. We believe that introducing innovative urban air mobility services will offer a truly distinctive experience for our visitors and further strengthen Diriyah's presence on the global tourism map.' 'We value our partnership with Diriyah Company on this groundbreaking project, which underscores our commitment to share THC's expertise in delivering innovative, safe, and sustainable aviation solutions. We look forward to working closely with Diriyah to create a unique customer journey for the Kingdom's birthplace visitors, and achieve the ambitious goals of this MOU, and support the broader objectives of Saudi Vision 2030,' said Martinez. Urban air mobility is expected to improve accessibility, reduce traffic congestion, and enhance connectivity in major cities.
Zawya
17-02-2025
- Business
- Zawya
Saudi: THC targets IPO readiness within five years, CFO confirms
RIYADH — The Helicopter Company (THC) is actively preparing to become IPO-ready within the next five years, according to its Chief Financial Officer, Mashhour Al Saadi. 'THC remains financially stable with a robust structure supporting its expansion plans,' Al Saadi told Saudi Gazette. He confirmed that the company is working toward being IPO-ready within the next five years. 'IPO is the goal of every successful company. We are preparing internally to ensure we are IPO-ready, assessing the right timing based on market conditions,' he stated. Saudi Arabia's first and only commercial helicopter operator, THC, has rapidly expanded its footprint, supporting giga projects, emergency medical services, tourism, and major national events. Founded seven years ago, the company now operates a fleet of 60 helicopters and employs 850 people. It plays a pivotal role in high-profile events such as the Dakar Rally and other national rallies. As demand fluctuates, THC remains flexible in fleet management, leveraging its recently acquired international company specializing in helicopter trading and leasing to optimize operations. 'The fleet size is based on market demand. We size our fleet accordingly, whether expanding or reducing, and we view fleet optimization as an opportunity rather than a risk,' Al Saadi said. THC continues to see organic market growth by providing innovative aviation solutions to clients. Its presence in Saudi Arabia's giga projects involves transportation, medical services, and ad hoc operations. The company is also a key player in luxury tourism, offering aerial tours across major destinations, including AlUla and the Red Sea. Beyond Saudi Arabia, THC is eyeing regional expansion through profitable acquisitions and market growth opportunities. 'We are actively looking at acquisitions and keeping an eye on expanding into new markets,' Al Saadi said, emphasizing that each decision will be made strategically. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
