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.
Company announced Abu Dhabi Airlines, in a disclosure on the website Abu Dhabi Securities Market Today, we announced the completion of the acquisition of shares in Etihad Airways Engineering, the Advanced Military Center for Maintenance, Repair and Umrah (AMRC), and Global Aerospace Logistics (GAL), from a wholly-owned subsidiary of the Holding Company (ADQ), in exchange for issuing shares in Abu Dhabi Airlines. .
The deal will contribute to creating a competitive and integrated airline group with strong capabilities in the fields of maintenance and repair, logistics, supply chains, and advanced engineering services.
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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 about 4 billion dirhams, and these bonds will be convertible 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 adding a wide range of services, including the following:
- Etihad Airways Engineering Company provides maintenance and repair services to many airline companies, such as Etihad Airways, which is one of the national airlines of the UAE and headquartered in Abu Dhabi. The company employs more than 2,000 employees in aircraft maintenance hangars that cover an area of 42,000 square metres.
- AMERIC operates an integrated center to provide maintenance and repair services that include engineering solutions, technical training, supply chain management, and modification and modernization services for more than 35 types of aircraft.
- GAL is one of the companies providing maintenance and repair services 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.
The acquisition will create a new national entity with more than 9,500 employees, offering a comprehensive range of services to the aviation sector.
