Bristow and The Helicopter Company Form Strategic Partnership to Explore Advanced Air Mobility Opportunities

Rhea-AI Summary

The Helicopter and Jet Company (THC), fully owned by the Public Investment Fund (PIF) of Saudi Arabia, has signed a Memorandum of Understanding (MOU) with Bristow Arabia Aircraft & Maintenance Services, a subsidiary of Bristow Group Inc. (NYSE: VTOL), to collaborate on advanced air mobility initiatives in Saudi Arabia and other vertical lift projects. This partnership aims to drive innovation and sustainability in the vertical aviation sector, positioning THC as a regional leader and global player.

RIYADH, Saudi Arabia and HOUSTON, Feb. 27, 2024 /PRNewswire/ -- The Helicopter and Jet Company (THC), Saudi Arabia's premier provider of commercial helicopter services and fully owned by the Public Investment Fund (PIF), today announced the signing of a Memorandum of Understanding (MOU) with Bristow Arabia Aircraft & Maintenance Services, a subsidiary of Bristow Group Inc. (NYSE: VTOL), the leading global provider of innovative and sustainable vertical flight solutions. The two companies plan to work together on advanced air mobility (AAM) initiatives in the Kingdom of Saudi Arabia as well as other collaborative vertical lift endeavors.

Captain Arnaud Martinez, CEO of THC, said: ''We are delighted to have signed this MOU with Bristow, which will enable THC to continue to advance innovation and sustainability initiatives within the vertical aviation sector, meeting the evolving needs of our growing customer base. This agreement will also allow us to help transform Saudi Arabia's general aviation industry through our forward-thinking work, cementing our role as a regional leader and an increasingly global player. Together with Bristow, we will prove that everything is possible in aviation with the right partner."

"THC has demonstrated amazing success in a short period of time. We are excited about this new agreement, and our partnership with THC underscores Bristow's intent to grow our business in the Middle East," said Bristow President and CEO Chris Bradshaw. "Bristow has collaborations with multiple leading AAM manufacturers to provide critical safety, operational, certification, and logistics expertise. This agreement outlines a framework for Bristow and THC to adopt these new technologies, quickly and effectively, to strengthen a growing aviation ecosystem within Saudi Arabia."

About Bristow Group

Bristow Group Inc. is the leading global provider of innovative and sustainable vertical flight solutions. Bristow primarily provides aviation services to a broad base of offshore energy companies and government entities. The Company's aviation services include personnel transportation, SAR, medevac, fixed-wing transportation, unmanned systems, and ad hoc helicopter services. Bristow currently has customers in Australia, Brazil, Canada, Chile, the Dutch Caribbean, the Falkland Islands, India, Ireland, the Kingdom of Saudi Arabia, Mexico, the Netherlands, Nigeria, Norway, Spain, Suriname, Trinidad, the U.K., and the U.S. To learn more, visit our website at www.bristowgroup.com.

About THC

THC was established as part of the Saudi Public Investment Fund (PIF)'s strategy to activate new sectors in Saudi Arabia that support the realization of Vision 2030 by creating an entire new ecosystem for general aviation services and introducing safe and efficient transport services across the kingdom. THC is the Kingdom's premier commercial helicopter operator and has been operating since mid-2019. THC currently has 47 aircraft that serve diverse segments, including Emergency Medical Services (EMS), aerial work, private charters, and tourism in the Kingdom.

Contacts

Bristow
Investors
Jennifer Whalen
InvestorRelations@bristowgroup.com 

Media
Adam Morgan
adam.morgan@bristowgroup.com 

THC
Media
Tania Ahmed
tania.ahmed@kekstcnc.com

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SOURCE Bristow Group

FAQ

What is the name of the company fully owned by the Public Investment Fund (PIF) of Saudi Arabia that signed the MOU with Bristow Arabia Aircraft & Maintenance Services?

The Helicopter and Jet Company (THC)

Which company is the subsidiary of Bristow Group Inc. (NYSE: VTOL) that will collaborate with THC on advanced air mobility initiatives?

Bristow Arabia Aircraft & Maintenance Services

What is the ticker symbol of Bristow Group Inc.?

VTOL

What is the focus of the collaboration between THC and Bristow Arabia Aircraft & Maintenance Services?

Advanced air mobility initiatives in Saudi Arabia and other vertical lift projects

Who is the CEO of THC?

Captain Arnaud Martinez