Abu Dhabi Aviation’s net profits retreat 49% in 2020

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Abu Dhabi – Mubasher: Abu Dhabi Aviation Company recorded a 49% drop in net profits to AED 154.686 million in 2020 from AED 301.205 million in 2019.

The company’s revenues decreased by 4.05% to AED 1.558 billion in 2020 from AED 2.081 billion during the previous year, according to the company’s preliminary results for the period ended on 31 December 2020.

The earnings per share (EPS) settled at AED 0.40 last year, against AED 0.55 in 2019.

It is noteworthy to mention that during the first nine months of 2020, the company saw a 49% decrease in net profits to AED 113.099 million from AED 223.9 million in the same months of 2019.

Source: Mubasher

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