Saudi Gazette report

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.