Abu Dhabi Aviation Co. (ADA) has expressed intent to fully acquire Falcon Aviation Services (FAS), an aviation service company based in the Emirati capital, Zawya reports.
The intent is in line with ADA’s strategic plan to expand and enhance assets and revenues, the media notes citing a disclosure from the company to the Abu Dhabi Securities Exchange (ADX) on Thursday.
The financial impact of the potential acquisition will be determined after completing the negotiations. Talks for the deal have already begun but are in early stages.
Falcon Aviation Services posted in 2020, a 28.2% decrease in its annual profit attributable up from AED 246.194 million in 2019.
FAS, established in 2006, delivers a variety of services, including private jet & helicopter charter, aircraft management, MRO, oil and gas aviation support, and aircraft solutions.