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Abu Dhabi Airways is the largest commercial helicopter operator in the Middle East, primarily supporting the offshore oil industry and providing other services such as firefighting, emergency medical, and seismic surveys, as well as engineering and construction. In addition to charter flights, the company offers MRO (maintenance, repair and overhaul), flight training and luxury jets through its subsidiary Royal Jet.
The company’s stock has delivered an impressive 26% year-to-date performance for its investors.
ADA Group posted revenue of AED 1.40 billion for the nine months to September 2022, compared to AED 1.16 billion in the same period last year. The 20.5% increase was driven by additional oil and gas offshore services as well as temporary services. The combined contribution from helicopter and fixed-wing operations and commercial aircraft operations accounted for 75% of revenue.
During the nine months, commercial aircraft operations and air cargo increased by 52.7% and 16% year-over-year.
During the nine-month period, ADA’s profitability increased from AED 203 million to AED 317 million. This resiliency has helped overcome major challenges such as market volatility, distribution bottlenecks, and disruptions in OEM production of certain spare parts/assemblies.
ADA’s vision includes expanding its business locally and globally. The company has begun taking steps to expand and replace planes based on demand. It owns and operates 58 aircraft, including 51 helicopters and 7 fixed-wing aircraft. From a risk mitigation perspective, ADA continues to diversify its investments to balance the impact of global markets and the cyclical nature of the economy.
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