Font Size

- Aa +

Wed 19 Jan 2011 03:33 PM

Font Size

- Aa +

UAE freight carrier invests $95m in new aircraft

Maximus Air Cargo inks deal for 3 Airbus cargo jets; reports 16% revenue hike during 2010

UAE freight carrier invests $95m in new aircraft
CARGO PLAYER: Maximus Air Cargo, the UAE’s biggest cargo-only airline, is investing $95m in three Airbus A300-600 freighters (ITP Images)

Maximus
Air Cargo, the UAE’s biggest cargo-only airline, is investing $95m in three
Airbus A300-600 freighters, which will all be delivered during the course of
this year.

The
jets, bought from Japan Airlines, bring Maximus’ total fleet to 11 aircraft.
Built in 2001 and 2002, they are currently being converted from passenger
aircraft.  

Maximus
president and CEO Fathi Buhazza said that the investment had been possible due
to strong revenue growth in 2010.

“Due
to our steady and constant operations we realized a 16% growth in 2010 over the
previous year with a turnover of $117m this year,” Buhazza said.

“With
the addition of these new cargo aircraft and more destinations, we can now
offer cargo agents and freight forwarders a wider choice of cities for their
shipments.” 

Maximus
has seen swift growth since its launch in 2005. In 2008, the firm was bought by
state-owned Abu Dhabi Aviation after more than doubling its revenue in the
first nine months of that year.

The
carrier also has strong ties with UAE flag-carrier Etihad Airways. Earlier this
month, the two companies extended wet-lease contracts for two of Maximus’
Airbus A300-600 freighters until August 2012.

As
a result of this stability we are able to make this major investment. Maximus
Air Cargo has gone from strength to strength since its inception in 2005 and
there is still more to achieve.

 

 

For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.