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FINANCIAL NEWS
Abu Dhabi Aviation profit hits USD66.61m in 2014
23 Mar 2015
(MENAFN) Abu Dhabi Aviation, a commercial helicopter operator, logged a net profit of USD66.61 million for 2014, making a jump from the USD60.89 million of 2013, Gulf News reported.
However, revenues fell slightly to USD438.27 million in 2014, down from approximately USD446.44 million registered the previous year, according to financial reports.
Despite the drop in revenue, the rise in net profit was due to a decrease in operating costs to USD323.94 million, marking an improvement from the USD326.66 million of 2013.
“We sold five Airbus A300 aircraft, which brought losses because they were competing with major airlines,” the chief financial officer at Abu Dhabi Aviation said, commenting on the firm’s losses.
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