Abu Dhabi Aviation (ADA) was formed
in 1976 as a joint venture agreement between the emirate of Abu
Dhabi (80%) and a foreign company (20%) with start-up capital of
Dh2 million. At the time, the company operated only two aircraft.
As part of His Highness Sheikh Zayed Bin Sultan Al-Nahyan's policy
of encouraging national companies and investment within the
country, the transfer of the company to full public status was
effected on 16 May 1982, providing for the establishment of a
National Joint Stock Company with paid-up capital of Dh.
60,000,000. The government retained 30% of the capital in order to
give continued support to the company.
Between 1996 and 2005, the company
issued bonus shares and as a result the paid capital increased to
Dh292, 032, 000. A right issue of shares was also approved and on
completion of the right issue, capital was increased to Dh404,
352,000.
ADA also has equity in two other
aviation companies - Royal Jet (50%) and Maximus Cargo (95%).
