Abu Dhabi Airlines Acquires Shares in Etihad Airways Engineering and GAL – ADAVITATION Stock Soars

Abu Dhabi Airlines, a leading provider of aviation services is listed on the Abu Dhabi Stock Exchange under the symbol… (ADAVITATION)announced the completion of the agreement to acquire shares in the companies “Etihad Airways Engineering”, the Advanced Military Center for Maintenance, Repair and Umrah (AMRC), and “Global Aerospace Logistics” (GAL), from a subsidiary that wholly owned “Proprietary Company”.“(ADQ)In exchange for issuing shares of Abu Dhabi Airlines.

The agreement will contribute to the creation of a competitive and integrated airline with strong capabilities in the areas of maintenance and repair, logistics, supply chains, and advanced engineering services..

Abu Dhabi Airlines is a leading provider of aviation services, as it owns and operates a fleet of 62 aircraft that meet growing needs for VIP transportation, search and rescue operations, agricultural crop spraying, assisting earthquake victims- land, and firefighting in the United States. Arab Emirates and other countries. The company also has a proven track record in supporting companies working in the oil sector in the Middle East region in particular and the world in general through more than a million flight hours over the five decades ago..

After receiving approval from the relevant regulatory authorities, 100% of the shares of Etihad Airways Engineering Company, 100% of the shares of Amerc, and 50% of the shares of GAL were transferred to Abu Dhabi Airlines. In return, mandatory convertible bonds will be issued with a total value of approximately 4 billion dirhams, and these bonds will be converted into ordinary shares in the capital of Abu Dhabi Airlines..

The transfer of the three companies to the Abu Dhabi Airlines portfolio will contribute to the addition of a wide range of value-added services.:

Etihad Airways Engineering Company provides maintenance and repair services to many airlines, such as Etihad Airways, which is one of the national airlines of the United Arab Emirates and is headquartered in Abu Dhabi at the company has more than 2,000 employees in aircraft maintenance hangars of an area of ​​42 thousand square meters.

Amerc operates an integrated center to provide maintenance and repair services that include engineering solutions, technical training, supply chain management, and modification and renewal services for more than 35 types of aircraft..

JAL is one of the largest repair and maintenance service providers in the Middle East and North Africa region, employing more than 5,000 technicians and engineers who provide their services to more than 45 types of aircraft..

Completion of the acquisition contract will lead to the establishment of a new national entity that will include more than 9,500 employees, and will provide a wide and comprehensive range of services to the aviation sector, which will benefit from the growing demand for this type of services in the markets of the Middle East, North Africa and the world..

His Excellency Nader Ahmed Mohammed Al Hammadi, Chairman of the Board of Directors of Abu Dhabi Airlines, said: “The success of the acquisition contract enhances the company’s competitive advantages and contributes to the consolidation of the Emirate of Abu Dhabi’s position as a global hub.” in the aviation sector. towards continuous improvement and excellence to meet the requirements and needs of our customers.”