Gulf Helicopters to invest USD137m

30 Apr 2011

(MENAFN) Qatar-based Gulf Helicopters stated it would pay USD137 million in investments in new vehicles by 2015 as demand in the market would increase, reported Arabian Business.

The company said that nine new helicopters would be added.

The company said expects demand to remain high for helicopter services in the MENA region’s oil and gas industry over the next few years.

Gulf International Services, parent of Gulf Helicopters, added in its business plan that it expects to earn a net profit of USD165 million by 2015 with a compound aggregate growth rate (CAGR) of 5.8 percent.

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