CITIC Sets up Helicopter Emergency Services JV

(Yicai Global) July 25 — Chinese helicopter aviation services firm CITIC Offshore Helicopter has linked up with a local travel firm in Qingdao in eastern China’s Shandong province to establish an emergency services unit using helicopters.

CITIC also aims to expand operations to the northern municipality of Tianjin, the Shenzhen-based firm said in a statement.

The joint venture will primarily use in helicopters for emergency public services in Qingdao, an important regional economic center in northern China, and will expand business along the Shandong Peninsula and the neighboring northern region.

The unit will also make full use of opportunities brought by Airbus’s helicopter manufacturing plant in Qingdao to develop its business, the company said. Airbus’ factory started construction in May 2017 and is expected to enter operation this year with an annual capacity of 36 helicopters.

Editor: William Clegg