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Abu Dhabi Aviation records AED 54m net profits in Q1-20

Abu Dhabi Aviation records AED 54m net profits in Q1-20
The company's revenues increased by 8%
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Abu Dhabi – Mubasher: Abu Dhabi Aviation Company reported net profits of AED 54.266 million during the first quarter (Q1) of 2020, down 10% from AED 60.282 million in the year-ago period.

The company's revenues increased by 8% to AED 166.94 million in the first three months of 2020 from AED 154.50 million in the same period of 2019, according to the company's consolidated financials for Q1-2020.

The rise in revenues is attributed to more businesses from the government and related entities.

It is noteworthy to mention that in 2019, the company's net profits reached AED 246.2 million, up from AED 231.4 million a year earlier.