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

Qatar trains focus on huge upgrade

A major new training establishment is to be built in Qatar, as part of the support structure for the Gulf nation’s forthcoming massive build-up in military aviation assets. Alan Dron reports.

Etihad Cargo introduces new freighter network

Etihad Cargo has announced a refresh of its global freighter network that will be implemented commencing 1 October, 2018, marking a key milestone in its strategy to simplify its route network and maximise freighter-to-bellyhold

XO Jet becomes part of Vista group

The third largest US business jet charter operator by flight hours, XO Jet, which is part-owned by Abu Dhabi’s Mubadala, has been bought by Vista Global.

Inmarsat and Panasonic Avionics in strategic collaboration for Commercial Aviation

Inmarsat and Panasonic Avionics Corporation (Panasonic) have agreed a strategic collaboration, for an initial ten-year period, that enables them to combine their highly complementary market leading services to offer broadband

Fourth Middle East Safety Summit to go ahead in October in Riyadh

The General Authority of Civil Aviation (GACA), in collaboration with the International Civil Aviation Organization (ICAO), will organise the Fourth Middle East Safety Summit from 2-3 of October 2018 in the capital city of Riyadh.

Predicting what's next in the tailor-made revolution

The fusion of big data, artificial intelligence (AI) and in-flight connectivity is changing the way airlines do business. Steve Nichols looks at how cutting-edge technology is changing what you eat, read, and watch on flights, without

TAA SK0902311218
See us at
AIME19BTA3005120219Istanbul Airshow BT22018Cargo BT1004091018BIAS BT271017161118GATM BT1004061118MAPS18_BT1207131118MarrakechAirshow BT2507241018Aviation Africa BT0607280219MEBAA BT1004121218ASDubai BT1004091018