Gulf Helicopters to Invest QR500m

Gulf Times30.04.2011 UAE
Gulf Helicopters to Invest QR500m

Gulf Helicopters to Invest QR500m

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Gulf Helicopters, a Gulf International Services Group company, plans to invest about QR500mn on new aircraft over the next 4 years.

9 new helicopters would join the Gulf Helicopters fleet by 2015, Gulf International Services (GIS) said in its 5-year business plan released in Doha yesterday.

The company expects ‘demand to remain high’ for helicopter services in the Middle East North Africa (MENA) region’s oil and gas industry over the next few years.
Gulf Helicopters Company (GHC) was originally incorporated in 1970 under the name of Gulf Helicopters Limited as a subsidiary of British Overseas Airways Corporation. The company was subsequently acquired by Gulf Air, which then sold it to Qatar Petroleum (QP) in 1998. QP transferred its 100% shareholding to GIS in 2008.

GHC has one subsidiary, Al Maha Aviation Company, in which it has a 92% stake and effective control over the remainder, a deemed 36% investment in an associate, United Helicharters Private Limited (incorporated in India), and one branch office located in West Sussex, United Kingdom. The company’s authorized and issued share capital is QR66 million.

The company’s core operational activities consist of a variety of helicopter transportation services, including offshore/onshore transporting, long-and short-line loadlifting, seismic support, VIP executive transport, helicopter emergency medical services and ad-hoc short-term contracts. Remaining revenue consists of residential rental income and income from its UK procurement branch.


Source: Gulf Times




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