Profit up at helicopter operator Abu Dhabi Aviation

Abu Dhabi Aviation, which operates a commercial fleet of helicopters, said its net profit for the three months to the end of June was up by 16.4 per cent, at just under Dh75 million. The net profit increase came despite a decline in revenue of about 10 per cent, to Dh468m, for the quarter as the company cut general expenses and financing costs.

For the first six months of the year revenue was down about 5 per cent, at Dh908m, while profit attributable to the company’s owners was up by about 8 per cent, at Dh139m.

The company did not provide any management commentary, but the segment breakdown shows the main operating unit, its charter business, held up fairly well in the first half of the year, with revenue dropping about 4 per cent to Dh405m, while in the commercial segment, which includes fleet management, revenue plummeted by 21 per cent to Dh187m, compared with the first half last year.

The air cargo business reported an increase in revenue and gross profit, up by 6 per cent at Dh317m and up by 34 per cent at Dh75m, respectively.

The company’s chairman, Nader Al Hammadi, said this year the cyclical nature of its oil-related and commercial charter business had led it to diversify into training, with a new facility due to be completed at Khalifa City, as well as a growing investment portfolio.

The company also said in the spring that it had applied for an operating licence for Saudi Arabia.

amcauley@thenational.ae

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Scoreline

UAE 2-1 Saudi Arabia

UAE Mabkhout 21’, Khalil 59’

Saudi Al Abed (pen) 20’

Man of the match Ahmed Khalil (UAE)

Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

Company: Instabug

Founded: 2013

Based: Egypt, Cairo

Sector: IT

Employees: 100

Stage: Series A

Investors: Flat6Labs, Accel, Y Combinator and angel investors