Abu Dhabi: «The Gulf»
Abu Dhabi Aviation Group recorded a net profit in the first half of this year of regarding 156 million dirhams, compared to 124 million dirhams in the corresponding period of last year, a growth of 25.8%.
Abu Dhabi Aviation Group continues to provide a strong financial performance despite the negative impact of the epidemic and the Russian-Ukrainian crisis on the global economy. The rise in net profit comes amid market volatility, the global supply chain crisis, and disruption to OEM production of some parts/components. Abu Dhabi Aviation is also facing a shortage of staff in the aviation sector, as the demand for employment in the Gulf region and the world has increased. The company has responded quickly by taking various measures in order to retain existing employees and attract new ones.
Abu Dhabi Aviation Group recorded revenues of AED 851.74 million for the period ending June 30, 2022, an increase of 18.91% compared to revenues of AED 716.27 million for the same period in 2021.
main company
Abu Dhabi Aviation Company (the parent company), including (Abu Dhabi Aviation Training Center, ADA Global Real Estate Company, ADA Millennium Consulting Company and Rymco) achieved revenues for the period ending June 30, 2022 amounting to AED 371.18 million, an increase of 5.39% compared to 352.2 million dirhams for the same period in 2021. This increase is attributed to additional oil and gas flights. The net profit for the second quarter amounted to 47.94 million dirhams, an increase of 4.32% compared to 45.95 million dirhams in the second quarter of 2021.
Maximus Corporation
Maximus Aviation achieved revenues of AED 186.14 million for the period ending June 30, 2022, an increase of 3.38% compared to AED 180.05 million for the same period in 2021, due to increased demand for private sales and long-haul flights to Europe and the United States of America. Despite the slight increase in revenue, the net profit decreased by 14.38% due to the leasing of third party aircraft, which resulted in a lower profit than the profit from using the company’s aircraft.
Royal Gate
In addition, Royal Jet achieved revenues of AED 294.42 million for the period ending June 30, 2022, an increase of 59.99% compared to AED 184.02 million in the comparison period due to the high demand for flights. The net profit for the second quarter amounted to 70.51 million dirhams, an increase of 105.27% compared to 34.35 million dirhams for the same period in 2021.
