Posted inEarnings Watch

Freight carries Aramex while aviation and MRO power Agility and Abu Dhabi Aviation

Higher MRO activity lifted Abu Dhabi Aviation’s earnings in 1H 2026. The group’s net income rose 6.6% y-o-y to AED 420.6 mn, according to its financial release (pdf). The firm’s revenue climbed 28.3% y-o-y to AED 4.7 bn.

Behind the numbers: MRO revenue grew 30.6% and accounted for nearly 90% of group revenue, driven by sustained fleet-support demand at GAL and a pickup in Ammroc’s contracted programs moving into full execution. General Aviation revenue rose 7.6% to AED 509.9 mn, supported by stronger cargo operations at Maximus Air.

The caveat: Reported earnings included a one-off settlement tied to an Ammroc legacy contract, which contributed AED 364 mn to revenue and AED 102 mn to net income, nearly a quarter of the total. Excluding it, underlying earnings were below the year-earlier period due to a bigger share of contracted MRO work, lower contributions from equity-accounted investees, and higher depreciation following fleet and facility investments.

Freight forwarding carries Aramex to a record quarter

Record freight forwarding revenue and rerouting pushed Aramex’s 2Q 2026 revenue up 22% y-o-y to AED 1.8 bn — the highest quarterly figure the firm recorded, according to its earnings release. Its net income swung to AED 47.4 mn from AED 9.3 mn a year prior.

Regional disruption drove the freight forwarding surge. The unit posted its highest-ever quarterly revenue as Aramex rerouted cargo via new Europe-Middle East land routes and added air and sea charter capacity to keep freight moving — while the rest of the network helped balance the business, with Domestic Express growing and international express volumes stabilizing after several quarters of declines.

The half-year read: 1H revenue rose 12% y-o-y to AED 3.43 bn, while net income reached AED 64.4 mn — up from a reported AED 7.9 mn a year earlier, or a normalized AED 33.4 mn once one-off items are excluded.

Agility Global posts solid 2Q

Strong growth across Agility Global’s aviation and fuel-logistics segments pushed its net income up 32% y-o-y to USD 57.8 mn in 2Q 2026, according to its financial release (pdf). The firm’s revenue rose 26% to USD 1.5 bn.

What moved the quarter: Menzies Aviation led the quarter, with revenues up 31% y-o-y to USD 908 mn on contributions from G2, new contracts, and higher yields, while aircraft turns rose around 8% and cargo volumes went up 7%. Tristrar’s revenues climbed 22% on stronger fuel-business performance, while Agility Logistics Parks posted 47% revenue growth as newly completed facilities started generating income.

Six-month check: Agility Global’s net income in 1H rose 30% y-o-y to USD 97.5 mn, alongside a 25% y-o-y rise in revenues to roughly USD 3 bn. The lifts were supported by an increase in aviation-services revenue, which climbed 33% to USD 1.8 bn, and fuel-logistics revenue, which rose 16% to USD 797.2 mn.