Abu Dhabi – Mubasher: Abu Dhabi Aviation Co, listed on the Abu Dhabi Securities Exchange (ADX), posted a 26.41% year-on-year decline in its net profit for the first half of 2019.

Net profit reached AED 29.54 million in the six-month period ended 30 June 2019, compared to AED 40.14 million in the year-ago period, Abu Dhabi Aviation said in a statement.

Total revenue amounted to AED 312.49 million in H1-19, down 1.93% from AED 318.64 million in the prior-year period.

The company attributed the decrease in H1-19 profits to the global economic slowdown and volatile oil prices.

In 2018, Abu Dhabi Aviation recorded a net profit of AED 231.4 million, down 21% year-on-year from AED 243.6 million.