The Helicopter Company (THC) of Saudi Arabia placed an order for 16 more Leonardo AW139 medium twins, with an option for seven more, worth $300 million on the opening day of Heli-Expo 2022. Deliveries will begin later this year and extend over the next three years, with the new aircraft joining an existing THC fleet of seven AW139s.
Saudi Public Investment Fund (PIF) established THC as part of its strategy to activate new sectors in Saudi Arabia that support the realization of its “Vision 2030” campaign to diversify that country's economy away from oil and generate long-term commercial returns. THC is the kingdom’s first and only commercial helicopter operator and has been flying since mid-2019.
This latest helicopter purchase agreement is part of THC’s previously announced strategic alliances with regional partners, including the Red Sea Development Co. (TRSDC), the current developer of a massive regenerative tourism project that encompasses 11,000 square miles that includes an archipelago of more than 90 islands, desert, and volcanic mountains. Phase One of the project, with 3,000 hotel rooms, is expected to open this year.
The Leonardo order is the latest part of THC’s plan to build a substantial helicopter fleet to transport passengers throughout the massive project. Late last year, THC placed orders for 26 Airbus Helicopters—20 five-blade H145D3 light twins and six ACH160 medium twins—after previously signing an agreement to buy 10 single-engine H125s in August 2020.
Leonardo revealed nearly $420 million in helicopter orders and commitments on the opening day of Heli-Expo 2022, kicking off what OEMs hope will be a sales bonanza at the three-day rotorcraft show. The Italian aerospace company (Booth 11454) has racked up orders and options for 25 AW139 medium twins and commitments for AW609 civil tiltrotors.
The Helicopter Company (THC) of Saudi Arabia placed an order for 16 more Leonardo AW139s, with an option for seven more, worth $300 million. Deliveries will begin later this year and extend over the next three years, with the new aircraft joining an existing THC fleet of seven AW139s.
Saudi Public Investment Fund (PIF) established THC as part of its strategy to activate new sectors in Saudi Arabia that support the realization of its “Vision 2030” campaign to diversify that country's economy away from oil and generate long-term commercial returns. THC is the kingdom’s first and only commercial helicopter operator and has been flying since mid-2019.
This latest helicopter purchase agreement is part of THC’s previously announced strategic alliances with regional partners, including the Red Sea Development Co. (TRSDC), the current developer of a massive regenerative tourism project that encompasses 11,000 square miles that includes an archipelago of more than 90 islands, desert, and volcanic mountains. Phase One of the project, with 3,000 hotel rooms, is expected to open this year.
In addition, Leonardo inked an $18.6 million deal yesterday for two AW169s with German operator HeliService to support an offshore wind farm in Taiwan starting in mid-2023. HeliService already operates three AW169s for other wind-farm-support operations.
Meanwhile, Leonardo has signed a four-ship, AW609 civil tiltrotor deal with an undisclosed, long-established European operator of its helicopters. The customer plans to carry out a range of passenger transport missions supporting its point-to-point operations worldwide and its tiltrotors thus will have different dedicated configurations, including VIP/corporate and passenger/utility transport. Leonardo did not release a value of the order but AIN estimates it could be worth $100 million.
“We’re convinced, more than ever, that the AW609 will truly revolutionize point-to-point connections and other air operations, providing a major contribution as the use of airspace evolves further,” said Leonardo Helicopters managing director Gian Piero Cutillo.
The first production AW609 recently began ground testing in Philadelphia and the second is currently being assembled there. According to Cutillo, Leonardo hoped to complete AW609 certification activities this year and make its first customer delivery in 2023.
While declining to reveal the current size of the order book for the tiltrotor, he said the company “had some orders” and that the aircraft had generated renewed market interest following the deployment of the fourth test aircraft on a promotional tour to Expo 2020 Dubai late last year.