Maximus Air H1 revenue jumps 3% to $57.6m

Maximus Air, an Abu Dhabi Aviation Group company, announced the compilation of its 2012 half-year results. Revenue has jumped up three per cent to $57.6 million from the same period last year, this increase is largely due to commercial charters from numerous global key clients. Net profit from operations increased a healthy 50 per cent from 2011 results, which is attributed to sales growth in the private sector - accounting for 59 per cent, while government and ACMI sales balanced out the remaindered of this figure. Prospects for the second half of the year come with a positive outlook with the placement of long-term ACMI contracts. Maximus Air continued presence in both Charter and ACMI contracts continues to balance the level of exposure, cost saving initiatives and good performance in the face of challenging markets and uncertain economic reviews. President and Chief Executive Officer, Fathi H Buhazza said: “I continue to be positive in terms of pooling our vast experience, commitment to high standards and our flexibility in achieving results that relentlessly outdo our expectations. Our resilient business model and committed staff have allowed us to power forward and beyond, and continue to do so in the future.” Maximus Air was established in 2005 to provide tailored solutions for moving outsised cargo. After operating for only just over seven years in the region, it is now a significant regional air cargo carrier and cargo aircraft ACMI lease operator, employing more than 200 staff and operating a fleet of eight all-cargo aircraft comprising an Antonov An-124-100, Airbus A300-600RP2Fs and Ilyushin IL-76TD across the Middle East, Europe, Africa and Asia. From gulftoday