Gulf International Services (GIS) announced that Gulf Helicopters Company, a fully owned subsidiary of GIS, has acquired a 49 percent stake for an amount of $1m in Air Ocean Maroc, a Moroccan company specialised in aviation and medical evacuation in Morocco.
Commenting on the acquisition, Mohamed Ibrahim Al Mohannadi, the Chief Executive Officer of Gulf Helicopters, said: “This 49 percent acquisition of Air Ocean Maroc represents a new important milestone in our roadmap to expand our global presence and to serve the North-West Africa and Southern Europe.” The acquisition comes in line with GIS’ strategy to enter new and profitable international markets, such as North-West Africa and Southern Europe that have greater potential. This international expansion will undoubtedly support the company in its efforts to increase sources of income and utilize its assets more efficiently, while establishing itself as a leading global aviation service provider, GIS said in a regulatory filing to Qatar Stock Exchange (QSE) yesterday.
Gulf Helicopters will continue to explore further opportunities and areas to strengthen its global footprint by engaging in effective partnerships with key players in various promising markets. Air Ocean Maroc currently holds an Air Operator Certificate for the Fixed Wing and is also in the process of obtaining an Air Operator Certificate for Helicopters.
