Subscribe Free
in Business & Finance

ADA Group reports rise in nine month profits

Posted 21 November 2016 · Add Comment

The Abu Dhabi Aviation Group, (ADA Group), the Middle East's largest provider of commercial helicopter, luxury VIP charter and cargo solutions, has reported an 8.54% year-on-year rise in net profits for the first nine months of 2016 to September 30.

The Group has reported net profits of AED228.42 million despite a 16.5% drop in turnover to AED1.37 billion. ADA’s Q3 Group Directors report attributes the rise in net profits to a cost-restructure of the luxury charter operator Royal Jet, of which ADA owns 50%, and higher transaction volumes coming from the Presidential flight and the military, including the addition of a GHQ shuttle.

The Group’s parent company, Abu Dhabi Aviation (ADA), made AED609.89 million which was a 9% year-on-year decrease while its net profit fell 2% to AED98.2 million. The directors reported: “The decrease was due to current economic challenges and the winding down of expired client contracts.”

ADA’s 100%-owned Maximus Air Cargo (MAX) recorded a 16% drop in year-on-year net profits to AED77.51 million while Royal Jet returned a 195% year-on-year uptick in net profits to AED52.7 million.

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Gulf Air’s on time punctuality garners top ranking in 2017

Gulf Air has been independently ranked by UK aviation analysts OAG the third most punctual airline in 2017, amongst Middle East and African airlines, with an average on-time performance (OTP) of 80.22%.

Aircraft Interiors Middle East and MRO Middle East opens today

The Aircraft Interiors Middle East and MRO Middle East events opened today in Dubai.

Emirates SkyCargo offers enhanced protection for pharmaceutical cargo

Emirates SkyCargo, has stepped up its commitment to securely transport temperature sensitive pharmaceutical shipments with the introduction of pharma corridors offering additional protection across selected stations in its

Boeing's 787-10 Dreamliner cleared for commercial service by Federal Aviation Administration

Boeing has announced the 787-10 Dreamliner received an amended type certificate (ATC) from the U.S. Federal Aviation Administration (FAA), clearing the aircraft for commercial service.

Dubai Air Navigation Services and SERCO Middle East sign contract

At its head quarter’s in Dubai International Airport (DXB), Dubai Air Navigation Services (dans) have signed a supplementary agreement with SERCO Middle East.

Airbus throws spotlight on Tactilon Dabat to develop apps for local security agencies

Airbus will throw the spotlight on the Tactilon Dabat, the world's first integrated smartphone and full TETRA radio--all rolled into one, during their first time participation at the 20th edition of Intersec, the world’s leading trade

Aviation Africa SK18418
See us at
AIME BT1204240118Abu Dhabi AirExpo BT2018BIAS BT271017161118Aviation Africa BT18418Global Aerospace BT2018Saudi Future Airports BT150318ArabianTravelMkBT250418MEBAA BT2018Istanbul Airshow BT22018