The Helicopter Company seals key Saudi credit facility deal
RIYADH, 13 hours, 42 minutes ago
The Helicopter Company (THC), a key Saudi commercial helicopter services group fully owned by the kingdom's sovereign wealth fund PIF, has signed a SAR600 million ($160 million) Islamic credit facility agreement with Arab National Bank (anb).
This financing represents a substantial boost for THC's debt structure, offering stability through a long-term repayment period of 8 years, said a statement from THC.
This repayment period is tailored to match THC's evolving business requirements and provides the company with the necessary flexibility to seize strategic growth opportunities and position THC for strong expansion into other markets and services.
This financing also bolsters THC’s operational resilience, allowing the company to be agile and responsive to market demands and swiftly capitalize on emerging opportunities, it stated.
The Helicopter Company CEO Captain Arnaud Martinez said: "The long-term facility will support its financial resilience and long-term stability, enabling us to navigate dynamic market conditions and continue serving our customers with confidence, thus contributing to the development of Saudi Arabia’s aviation sector in line with Vision 2030 goals."
"It is about having the financial agility to act decisively in an evolving and dynamic aviation industry." he stated.
"This financing strengthens our strategic capabilities, allowing us to explore synergistic partnerships and targeted investments that will accelerate our long-term growth trajectory at a global scale," he added.
On the deal, Louai Alzaher, the Chief Wholesale Bank Officer of anb, expressed delight at its partnership with The Helicopter Company in support of Saudi Vision 2030.
"This financing reflects our commitment to empowering national champions, driving economic diversification, and creating new opportunities for growth and innovation in the Kingdom," he noted.
A major player in the aviationa sector, THC has been operating since mid-2019 with a 60+ strong fleet.
It was set up as part of Saudi PIF’s strategy to activate new sectors in the kingdom that support the realisation of Vision 2030 by creating an entire new ecosystem for general aviation services and introducing safe and efficient transport services across the kingdom.-TradeArabia News Service
