Jeddah, Saudi Arabia – The Helicopter Company (THC), established by the Public Investment Fund (PIF) as the first and only helicopter services provider licensed to operate commercial flights in the Kingdom of Saudi Arabia, today announced that it has signed a second purchase agreement with Airbus (OTC: EADSY) Helicopters.
The agreement was signed by Raid Ismail, Chairman of the Board of THC and Bruno Even, CEO of Airbus Helicopters, in the presence of His Excellency Khalid Al Falih, Minister of Investment and His Excellency Franck Riester, Minister Delegate for Foreign Trade and Economic Attractiveness.
The partnership will contribute to the ongoing expansion of THC’s regional fleet ahead of announcing an exciting new journey as a General Aviation champion, with twenty orders of the newly launched five bladed H145 and six ACH160 models. All aircraft feature cutting-edge technologies and biofuel-compatible engines, marking a significant milestone in developing alternatives to conventional aviation fuels and achieving decarbonization of helicopter flights.
Launching its services in 2019, THC was established by PIF as part of its strategy to activate new sectors in Saudi Arabia that support the realisation of Vision 2030 and generate long-term commercial returns, while meeting the growing demand for luxury tourism and air travel services. THC previously signed an agreement to buy 10 Airbus H125 helicopters to increase access to domestic tourism destinations and provide services such as filming and aerial surveying – and is now further expanding its services with the addition of the H145 and H160 to its fleet.
The purchase agreement forms part of THC’s ongoing strategic regional alliances with industry leaders, including a recent partnership with The Red Sea Development Company (TRSDC), the developer behind the world’s most ambitious regenerative tourism project. The contract for the provision and operation of a twin engine helicopter, crew and maintenance technicians, facilitates TRSDC emergency medical services (EMS) with alternate configuration change capability for passenger utility transport at TRSDC’s site on the west coast of Saudi Arabia.
Toulouse, France 16 July 2021 – flyadeal, the low-cost Jeddah-based airline owned by Saudi Arabian Airlines, has taken delivery of a brand new A320neo, the first out of 30 to be delivered in the next 3 years.
The aircraft is the first out of 65 A320neo family aircraft ordered by Saudi Arabian Airlines at the Paris Airshow in 2019, and will join flyadeal’s all Airbus fleet.
Powered by CFM LEAP-1A engines, the A320neo will offer flyadeal outstanding operational, economic and environmental performance.
flyadeal’s A320neo is configured with 186 seats in a comfortable all economy class layout. Passengers onboard the aircraft will benefit from the widest cabin of any single-aisle aircraft in the sky, as well as the latest cabin feature offering optimum passenger comfort.
The A320neo is the ideal aircraft for flyadeal to grow and expand its domestic and regional network. Demonstrating the operational flexibility of the A320neo, the aircraft will allow the airline to efficiently enhance its operations to additional networks and foster closer links with countries across the region and beyond.
The A320neo Family incorporates the very latest technologies including new generation engines, Sharklets and aerodynamics, which together deliver 20% in fuel savings and CO2 reduction compared to previous generation Airbus aircraft. The A320neo Family has received more than 7,400 orders from over 120 customers.
Los Angeles, California, February, 2021 – Air Lease Corporation (NYSE: AL) announced today long-term lease placements for two used Airbus A320-200 aircraft with Qanot Sharq Airlines (Uzbekistan), scheduled to deliver this March. This will be the first two aircraft in the fleet of the Uzbek startup airline.
“ALC is pleased to announce this lease placement of two A320-200s with Qanot Sharq Airlines,” said AJ Abedin, Vice President, Marketing of Air Lease Corporation. “We have worked closely with the Qanot Sharq executive team and are thrilled to participate in the launch of the first Uzbek startup airline through the placement of their first two aircraft.”
“We are honored and excited to work with one of the largest aircraft leasing companies in the world to assist with the launch of our airline,” said Nosir Abdugafarov, owner of Qanot Sharq Airlines. “These two A320-200s are scheduled to deliver in March and will be the first two aircraft in Qanot Sharq’s fleet, ensuring the highest standard of safety and comfort for our passengers.”
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.
About Qanot Sharq Airlines
Established as the first privately owned Airline in Uzbekistan, Qanot Sharq is led by a team of highly accomplished airline industry professionals with over 200 years of combined industry experience. The airline will operate from multiple regional airports in Uzbekistan, providing scheduled air service to international destinations such as Istanbul, Ankara (Turkey), Dubai (UAE), Jeddah, Medina (Saudi Arabia), Moscow, St. Petersburgh (Russian Federation) and Almaty (Kazakhstan).
DUBAI (Reuters) – A crackdown on corruption in Saudi Arabia has severely dented the kingdom’s private jet industry in a sign of the impact the campaign has had on private enterprise and the wealthy elite.
Dozens of planes, owned by individuals and charter companies and worth hundreds of millions of dollars, are stranded at airports across the kingdom including Riyadh and Jeddah, four people familiar with the matter told Reuters.
Some were handed over to the state in settlements reached after the crackdown was launched in late 2017, when dozens of princes, businessmen and government officials were detained, they said.
Others belong to Saudis who either face travel bans or are reluctant to fly the planes because they are wary of displays of wealth that might be seen as taunting the government over the anti-corruption campaign, two of the sources said.
The government media office did not respond to requests for comment. The General Authority of Civil Aviation said questions on the impact of the anti-corruption drive on the private jet industry were outside its mandate, adding that its relationship with private aviation covers operations, safety and regulations.
The crackdown’s impact on the business community and private enterprise, which are already reeling from low oil prices and weakened consumer confidence, has shattered investor confidence and contributed to a sense of uncertainty around the policies of Crown Prince Mohammed bin Salman.
The idle aircraft, which one of the sources estimated at up to about 70, include Bombardier (BBDb.TO) and Gulfstream jets, the sources said. There are also larger Airbus (AIR.PA) and Boeing (BA.N) aircraft that are more commonly associated with commercial airlines but are often used in the Middle East as private jets.
A Boeing 737 MAX or Airbus A320neo can cost up to $130 million (£102.1 million), though the final cost depends on how the jet is fitted out with technology and amenities, including private bedrooms, meeting rooms, and even gym equipment.
The number of registered private jets in Saudi Arabia stood at 129 as of December 2018 compared with 136 a year earlier, according to FlightAscend Consultancy data.
Private jets offer users flexibility as, unlike commercial airliners, they are not constrained by arrival and departure time slots. They also enable users to travel more discreetly.
UNDER THE RADAR
Saudi Arabia’s finance minister, Mohammed al-Jadaan, said last month the state had collected more than 50 billion riyals (£10.4 billion) from settlements reached under the crackdown.
Most of the detainees held at Riyadh’s Ritz-Carlton Hotel last November were released after being exonerated or reaching financial settlements with the government, which said it aims to seize more than $100 billion in total in either cash or assets.
It is unclear how the government would transfer ownership of the jets grounded across Saudi Arabia as many are owned through offshore firms or are mortgaged, two of the sources familiar with the matter said.
Three of the sources said it was likely that the jets were still registered in the kingdom.
Two of the sources said the government could absorb the aircraft into existing fleets used by ministries and state-owned corporations. A third source said the government had been looking to set up its own private jet company made up entirely of seized aircraft.
The anti-corruption campaign launched by Prince Mohammed has won widespread approval among ordinary Saudis, partly because the government has said it will use some of the funds to finance social benefits.
Critics have said the purge was a power play by the prince as he moved to consolidate power in his hands.
There have been few private jet flights in Saudi Arabia over the past year, largely because there are fewer planes readily available, including for charter, three of the sources familiar with the matter said.
VistaJet Chief Commercial Officer Ian Moore compared it to the situation in China where an anti-corruption crackdown has also weakened the private jet market.
“It’s not really politically great to be seen flying privately at the moment, particularly owning your own aircraft,” he told Reuters.
Some wealthy Saudi elite are taking commercial airlines to the United Arab Emirates, Bahrain and other destinations and then chartering private jets to avoid government scrutiny, two of the sources said.
Plane manufacturers said the appetite for business jet sales in Saudi Arabia has dropped since the anti-corruption crackdown was launched in November 2017.
“Political instability does not help consumer confidence in any way, shape or form,” Embraer Executive Jets Chief Commercial Officer Stephen Friedrich told Reuters.
By Alexander Cornwell. Additional reporting by Allison Lampert in Montreal; Editing by Saeed Azhar and Timothy Heritage.
