Gulf International Services Announces that Gulf Helicopters Acquired 49% Stake in Air Ocean Maroc

April 15, 2019

Gulf International Services (GIS) announced that Gulf Helicopters Company, a fully owned subsidiary of GIS, has acquired a 49% stake for an amount of U.S. $1 million in Air Ocean Maroc, a Moroccan company specialized in commercial aviation and medical evacuation in Morocco.

Commenting on this acquisition, Mr. Mohamed Ibrahim Al Mohannadi, the Chief Executive Officer of Gulf Helicopters, said: “This 49% 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 the company’s 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.

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.