Bloomberg HT17 minutes agoBusiness1 min readTürkiye

Saudi Arabia orders 12 jets from Bombardier

The Helicopter Company ordered 12 Challenger and Global series jets; There are 48 aircraft options

Quick Look

Canadian Bombardier announced that it received an order for 12 business jets worth $568 million from Saudi Arabia-based The Helicopter Company.
The order includes Challenger 3500, Global 5500 and Global 8000 models; THC also has 48 aircraft options.
PIF-supported THC is making inroads into fixed-wing aviation.

AI-generated summary

Why It Matters

THC is a company mainly known for its helicopter charter services and backed by the Public Investment Fund (PIF) of Saudi Arabia. It announced at the Farnborough Air Show earlier this year that it would enter fixed-wing business aviation. A letter of intent was signed with Bombardier at the fair, covering the purchase of up to 60 aircraft.

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Canadian aircraft manufacturer Bombardier announced on Friday that 12 business jets worth approximately $568 million were ordered by Saudi Arabia-based The Helicopter Company (THC). With this step, THC, supported by Saudi Arabia's Public Investment Fund (PIF), enters the fixed-wing aviation field.

According to Bombardier's statement, the firm order includes 5 Challenger 3500, 5 Global 5500 and 2 Global 8000 business jets. THC also retains the option to place an additional order for 48 aircraft.

Predominantly known for its helicopter charter services, THC announced at the Farnborough Air Show earlier this year that it would enter the fixed-wing business aviation space. The company aims to expand its range of services in line with the increasing demand for private jet travel.

THC had signed a letter of intent with Bombardier at the fair, covering the purchase of up to 60 aircraft. Bombardier said it has committed to long-term strategic investment, which includes establishing a local presence in Saudi Arabia as part of its partnership with THC.

What to Watch

AI outlook — possibilities, not facts

THC may exercise some of its 48 aircraft options
Possible · Within months
Bombardier establishes local presence in Saudi Arabia
Very likely · Within months

Open Questions

When are the delivery dates of the planes?
What are the details of the local presence to be established in Saudi Arabia?
What is the total order value if the option is used?