MIDDLE EAST: Maximus Air Cargo doubles its turnover

Heavy-lift specialist, Maximus Air Cargo appears to be immune from the global economic crisis with a more than doubling of its turnover for 2008 over the previous year. Maximus chalked up total sales revenue of US$110.8 million up 134 per cent from the US$47.3 million a year earlier, driven by what it said was an […]


Heavy-lift specialist, Maximus Air Cargo appears to be immune from the global economic crisis with a more than doubling of its turnover for 2008 over the previous year. Maximus chalked up total sales revenue of US$110.8 million up 134 per cent from the US$47.3 million a year earlier, driven by what it said was an expansion in fleet capacity and consistent dispatch reliability.

Freight-tonne kilometres flown during the year grew to 347,785 – up 156 per cent from 135,996 in 2007. Hours flown followed a similar pattern, up 137 per cent from 3,687 to 8,744.

The airline is now on target to hit sales of $130 million in 2009, according to president and chief executive Fathi Hilal Buhazza.

“We have achieved exceptional growth during 2008 and the upward trend-line is even steeper for 2009 as we continue to secure additional short and medium term aircraft wet lease contracts,” he said.

During 2008, Abu Dhabi Aviation acquired a 95 per cent stake in Maximus which then became a privately-held limited liability company, part of the group that controls Abu Dhabi Aviation and Royal Jet. Maximus has a fleet of eight all-cargo Antonov An-124-100, Airbus A300-600RF, Ilyushin IL-76TD, and Lockheed Hercules L382G aircraft operating across the Middle East, Europe, Africa, and Asia.