Abu Dhabi Aviation (BAR, Abu Dhabi International) will pursue a growth strategy based on acquisitions and mergers, a stock exchange disclosure said on Wednesday, March 24.
The carrier revealed no further details regarding the proposed target firms.
The announcement came after the firm, which bills itself as the largest commercial helicopter operator in the Middle East, saw profits decrease by 49% to AED158.7 million (USD43.2 million) in 2020.
Aside from its rotary-wing operations, it also maintains a fleet of De Havilland Aircraft of Canada turboprops - one Dash 8-200, three Dash 8-300s, and one Dash 8-400 - that it operates on oil and gas charters as well as for the United Arab Emirates Air Force.
The Abu Dhabi Investment Council, the Government of Abu Dhabi's investment arm, currently holds a 30% stake in the airline.
