ADQ, an Abu Dhabi-based investment and holding company, offered to acquire a majority stake in Abu Dhabi Aviation, an airline based in Abu Dhabi, United Arab Emirates, for $434m. "The proposed transaction will further position Abu Dhabi as a world-leading center of aviation excellence, combining the strengths of each asset to form a global MRO and aviation services champion to capitalize on growth opportunities in the aviation industry. The proposed combination will provide a framework to investing in the future development of an advanced aviation ecosystem that supports the sustainable transformation of Abu Dhabi and the UAE’s economy for the long-term," Mohamed Hassan Alsuwaidi, ADQ Managing Director and CEO.