Abu Dhabi: Abu Dhabi Aviation yesterday reported a net profit of
Dh181,612 million for the six month period that ended in June, a
jump of 150.4 per cent over the corresponding period last year.
"This significant increase was due to profit on sale of aircraft
in Maximus, as well as increase in flying hours and a more
favourable product mix in Royal Jet," the company said in a
statement to the Abu Dhabi Securities Exchange, where its shares
are listed. Its shares rose 0.31 per cent yesterday to close at
For January to June 2010, the company's net profit stood at
Abu Dhabi Aviation's turnover in the last six months rose 20.3
per cent on the year to Dh851.03 million. For the same period, its
operating profit jumped 69.2 per cent to Dh255.03 million from
Dh150.75 million, while earnings per share rose to Dh0.41 from
As of the end of June, the company's total assets were valued at
Dh3.2 billion, up from Dh3.17 billion in December, while its total
liabilities were valued at Dh1.44 billion. The total shareholders'
equity was worth Dh1.76 billion at the end of June, up 4.7 per cent
from the end of December.
Abu Dhabi Aviation is the largest commercial helicopter operator
in the Middle East, operating 54 helicopters. The bulk of the
company's business is in support of Abu Dhabi Offshore Oil and
engineering and construction.