Gulf Helicopters in service centre deal with AgustaWestland
Published: Thursday, 17 July, 2008, 01:52 AM Doha Time
DOHA: Gulf Helicopters (GHC), a 100% subsidiary of Gulf International Services, has signed an agreement with AgustaWestland to act as an authorised service centre for the latter in the Middle East region.
“Gulf Helicopters will be one of the first companies in the Middle East region to enter into an agreement with AgustaWestland for taking up the service and maintenance of AgustaWestland manufactured aircrafts for the whole of Middle East market,” according to a news item posted on the Doha Securities Market website.
AgustaWestland helicopters are poised to dominate the Middle East Market in the years to come, a GIS spokesman said.
GHC currently owns 26 helicopters: 16 Bell 412 class helicopters, six Bell 212 class helicopters, one Sikorsky S-92 helicopter, one Bell 230 helicopter, one Bell 206B helicopter and one AgustaWestland AW139 helicopter, according to the IPO prospectus of GIS.
“GHC is in the process of developing a five-year business plan, setting out revenue targets and benchmarking the company’s future growth,” the prospectus said.
GHC was looking to increase the size and diversity of its fleet as well as to operate as a repair station, with ratings for limited airframe, limited engine, limited emergency equipment and limited access (enabling it to maintain other operators’ aircraft), the prospectus had said.
GHC was incorporated in In 1970 as a subsidiary of British Overseas Airways Corporation, operating with a fleet of two helicopters.
It was subsequently acquired by Gulf Air, which, in turn, sold GHC to Qatar Petroleum in 1998.
GIS yesterday lost 1.72% to QR45.70 on a volume of 448,521 shares from 585 transactions.