You might not expect a helicopter operator to suddenly order dozens of private jets. But that is exactly what The Helicopter Company (THC) just did. This company, which has the support of Saudi Arabia's Public Investment Fund, has signed a letter of intent to purchase up to 60 Bombardier business jets.
At list prices, the whole package is worth about $570 million. Bulk discounts are common in this business, so the actual price will likely be lower.
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Established in 2018, THC originally offered helicopter services and now plays a role in the Public Investment Fund's plan to bolster the nation's aviation sector. Now it wants to expand into private jets. The company said in a statement: "The new business stream is designed to meet growing demand for private and general aviation, driven by Saudi Arabia's expanding tourism sector, business activity, and emerging destinations." It added: "THC aims to become the region's leading business aviation operator and the national carrier of choice in private charters and business aviation."
This is not the only large Bombardier order making headlines. February saw Vista Global Holding Ltd. order 40 Challenger 3500 aircraft. Additionally, Bond, a private jet company backed by KKR & Co., increased its commitment in April for a new Bombardier fleet of over 120 aircraft from $4 billion to $5 billion.
The Helicopter Company's move into fixed-wing jets reflects a broader push by the kingdom to diversify its economy and attract tourists. Saudi Arabia's Vision 2030 plan has spurred investment in tourism, with new destinations like the Red Sea Project and NEOM drawing high‑net‑worth travelers. THC's parent, the Public Investment Fund, has also backed other aviation ventures, including a new national airline and airport expansions.
By combining helicopter services with private jets, THC aims to offer seamless door‑to‑door travel for business and leisure clients. The order for Bombardier's long‑range Globals and midsize Challengers gives the operator flexibility to serve both regional and intercontinental routes, positioning it as a serious competitor to established charter firms in the Middle East.
THC's expansion into fixed-wing aircraft aligns with the broader strategy of the Public Investment Fund to create a comprehensive aviation ecosystem in Saudi Arabia. The fund has also invested in new airlines, airport infrastructure, and tourism projects, all aimed at attracting international visitors and business travelers. By integrating helicopter and jet services, THC hopes to capture a growing share of the premium travel market, offering seamless connections between remote luxury resorts and global hubs.
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