Abu Dhabi – Mubasher: Abu Dhabi Aviation Company has renewed its contract with Abu Dhabi National Oil Company (ADNOC) to provide helicopter services to offshore and onshore sites and helicopter emergency medical services (HEMs).
Under the renewed contract, both companies have agreed on increasing the number of aircraft, Abu Dhabi Aviation Company disclosed to the Abu Dhabi Securities Exchange (ADX) on Monday.
Expected to be completed in seven years, the project will be self-financed by the helicopter operator.
The project will have a positive impact on Abu Dhabi Aviation's financial position, which will be registered within three months of renewing the contract.
It is noteworthy to mention that in the first half (H1) of 2020, Abu Dhabi Aviation showed AED 47.822 million net profits, down by 66% from AED 139.398 million in the year-ago period.
