Abu Dhabi Aviation Company

An aviation-services group, not just an aircraft operator

As of: 2026-06-30

Abu Dhabi Aviation PJSC is the ADX-listed issuer behind a group combining aircraft operations with maintenance, repair and overhaul (MRO). Its activities cover fixed-wing, rotary-wing and military aircraft, technical support, charter and commercial air cargo, and aircraft parts trading inside and outside the UAE.

The operating model has several revenue drivers: providing aircraft services, maintaining customer fleets and supplying technical capabilities. Customer aircraft supported by the group are not automatically aircraft owned by the listed issuer. The profile covers the issuer and its consolidated group, not the wider government aviation portfolio.

Dated ownership and the control chain

As of: 2026-06-30

At 31 December 2025, the governance report lists ADQ Aviation and Aerospace Services LLC with 59.4464% and Al Mamoura Diversified Global Holding with 12.1661%. These are dated register figures, not live ownership percentages; the residual holding is not labelled free float here.

The June 2026 notes trace control from ADQ Aviation and Aerospace Services LLC through Abu Dhabi Developmental Holding Company PJSC (ADQ) to L’IMAD Holding Company, with the Government of Abu Dhabi as ultimate beneficial owner. This newer chain must not be shortened to the earlier annual-report chain. Government ownership is not a guarantee of dividends or investment returns.

The transaction that reshaped the perimeter

As of: 2025-12-31

The transaction effective 1 May 2024 brought in interests of 100% in Advanced Military Maintenance Repair and Overhaul Centre LLC (AMMROC), 100% in Etihad Airways Engineering LLC (EYE), and 50% in Global Aerospace Logistics LLC (GAL). These are interests in named businesses, not ownership of the entire Etihad airline group.

The legal acquirer was Abu Dhabi Aviation, but the contributed businesses were the accounting acquirer under reverse-acquisition accounting. Consequently, the 2024 comparative includes different coverage periods for the combined businesses. The legal structure and the accounting history should be read separately; simple year-on-year comparisons are not clean measures of organic growth.

Aircraft, maintenance and customer missions

As of: 2025-12-31

The integrated report describes helicopter and fixed-wing operations, maintenance facilities and simulator training. Helicopter types include Leonardo, Bell and Airbus, alongside Bombardier DHC8 aircraft. Missions include offshore oil support, medical evacuation, search and rescue, and aerial construction.

The portfolio also includes cargo activity through Maximus Air and training through ADATC. Abu Dhabi is the headquarters base, while the report describes operating locations across the Middle East, Europe and Africa. Geography is an operating footprint, not proof that every facility or aircraft in those markets is owned outright. Customer-managed aircraft must remain separate from the owned or operated fleet.

The report's ADA operating snapshot lists 53 helicopters, 14 fixed-wing aircraft and 5 simulators. It separately identifies customer aircraft under management. These disclosed snapshot counts are not presented as a reconciled inventory of aircraft owned across every consolidated subsidiary, nor as utilisation or flight-volume measures.

Annual reported results and comparability

As of: 2025-12-31

The table presents audited consolidated reported figures for the years ended 31 December, in AED thousand, without scaling to millions. Revenue increased, but reported total profit and profit attributable to owners declined against the comparative year.

The 2024 result included a bargain-purchase gain, and the reverse acquisition changed period coverage. Management's adjusted growth presentation is therefore not the growth rate of reported profit. Neither that adjustment nor the statutory comparison establishes like-for-like operating growth.

Interim performance: group profit versus owners' profit

As of: 2026-06-30

These unaudited consolidated figures cover the six months ended 30 June, not the second quarter alone. The source statement places quarterly columns before the half-year columns; the table below uses only the half-year columns.

Revenue and operating profit rose, while owners' profit was nearly unchanged. The distinction matters because total group profit includes non-controlling interests; the interim notes identify GAL's non-controlling share separately. Higher group profit is not identical to higher profit accruing to the listed company's owners.

Liquidity, overdrafts and financing obligations

As of: 2026-06-30

Cash and cash equivalents in the balance disclosure differ from the cash-flow statement total because bank overdrafts are deducted for the latter. The table shows both, so the two cash measures are not substituted for one another. Borrowings already include overdrafts; adding them again would double count.

Lease liabilities are disclosed separately from borrowings. Other financial assets at amortised cost include longer-term and structured deposits and are not treated here as cash equivalents. Editorial implication: an assessment of financial flexibility needs liquidity quality, lease obligations and repayment timing, not a single gross cash figure.

Integration, investment and shareholder distributions

As of: 2026-06-30

The annual strategy focuses on strengthening core operations, integrating capabilities and international expansion. The report describes maintenance capacity investment and fleet renewal; projects described as expected or under development at the annual reporting date are not treated here as subsequently completed.

The interim notes confirm a dividend of AED 0.30 per ordinary share, totalling AED 329 million, approved on 12 March 2026 and paid on 9 April 2026. This is a completed distribution, not guidance for the next payment. Investment plans and maintenance capacity should be assessed alongside the cash needed for dividends and financing obligations.

What could change the operating picture

As of: 2026-06-30

Editorial risk assessment: aircraft availability, maintenance execution, specialist staff and customer demand can affect utilisation and margins. Offshore aviation exposure links part of demand to customers' energy investment decisions; integration and international expansion add execution demands rather than guaranteed earnings.

Readers should separate reported from adjusted results, distinguish the parent shareholders' share of earnings from group profit, and avoid treating customer-managed assets as owned assets. Investment deposits may be less liquid than cash. Issuer strategy and sustainability statements are management representations, not independent proof of future performance or environmental outcomes.

Official contacts and source dates

As of: 2025-12-31

The annual governance report publishes the investor-relations email ir@ada.ae and office telephone +971 25025850, with https://ada.ae/investor-relations as the investor-relations page. These are published contact details, not a claim that the telephone or email was tested. The registered postal address is P.O. Box 2723, Abu Dhabi, UAE.

Sources below distinguish the annual 2025 information from the interim snapshot at 30 June 2026. Page references use physical PDF pages. The older dated review is retained separately; this profile neither replaces its historical context nor turns source-linked reporting into a buy or sell recommendation.

Sources

1. S1 · FY2025 audited consolidated financial statements · 2025-12-31
2. S2 · H1 2026 unaudited condensed consolidated financial information · 2026-06-30
3. S3 · 2025 Integrated Report · 2025-12-31