Abu Dhabi – Mubasher: Abu Dhabi Aviation Company has inked a letter of intent to consider fully acquiring Falcon Aviation Services (FAS), an aviation services provider.

The potential acquisition of FAS is part of Abu Dhabi Aviation's strategic plan to expand and enhance assets and revenues, according to the company's disclosure to the Abu Dhabi Securities Exchange (ADX) on Thursday.

The transaction's financial impact on the company will be determined after completing the negotiations, which are in an initial stage, and obtaining results of the due diligence report.

It is noteworthy to mention that in 2020, the company reported a 28.2% decrease in its annual profit attributable to the owners to AED 176.815 million, compared with AED 246.194 million in 2019.