IBQ announced that it has extended a QR158.8m term loan facility to Gulf Helicopters Company (GHC). IBQ is the sole provider of the term loan financing to Doha-based GHC for this transaction, which will support the growth and diversification of one of the region’s leading helicopter operators.

About The International Bank of Qatar (IBQ):

The International Bank of Qatar (IBQ) is a well established and rapidly growing commercial institution, offering a full range of retail, private and corporate banking solutions. IBQ has a strong commitment to build long-lasting relationships with its customers and provide them with excellent customer service with a focus on making banking simple, convenient and tailored to their needs. IBQ is one of the oldest existing banks in Qatar and celebrated its 50th anniversary in 2006. It has a growing network of 14 branches and service centres, and 34 ATMs in strategic locations throughout Qatar.

In June 2009, IBQ was recognised as “the fastest moving bank” in the Middle East and North Africa region and the 26th fastest mover globally in The Banker magazine’s Top 1,000 World Bank survey 2009. This commitment to customer relationships and best practice is reflected in the numerous awards won by the bank, including “Best Customer Service” award in 2008, 2009, 2010 and 2011 from Banker Middle East Magazine.

IBQ is 30% owned and managed by the National Bank of Kuwait (NBK), the largest bank in Kuwait and the highest rated in the Middle East. IBQ is a growing bank that benefits from an international network as a result of its affiliation with NBK which gives its customers access to greater resources and a wide range of international services.

About Gulf Helicopters Company (GHC):

Originally incorporated in 1970 under the name of Gulf Helicopters Limited as a subsidiary of British Overseas Airways Corporation, the Company was subsequently acquired by Gulf Air, and then sold to Qatar Petroleum in 1998. Gulf Helicopters Company (GHC) was incorporated as a Qatari Shareholding Company under the Emiri Decree No. 27 of 7 December 1998 and is 100% owned by Gulf International Services.

The Company has grown tremendously since its acquisition by QP in 1998 and currently is one of the leading helicopter operators in the Middle East with operations extending to India, Yemen, and Libya.

GHC has a diversified helicopter fleet and is experienced in Offshore Operations, VFR & IFR, Onshore Transport, VVIP Transport, Seismic Support, Load Lifting both short and long line and Photo Flights. The company has diversified operations into Emergency Services and is currently providing Helicopter Emergency Medical Services. GHC also provides a wide range of ancillary equipment to fulfill specific operational requirements.

GHC’s in-house facility boasts a multinational team of highly qualified and experienced engineers undertaking all fleet maintenance, as well as any modification to meet the specific job requirements and third party maintenance.

GHC operates under QCAR Ops 3 and JAR 145 regulations and is an ISO 9001-2000 certified Company.