Maximus Air grounds A300 fleet
Maximus Air announced that it will ground its fleet of Airbus A300s immediately.
The decision was made by the board of directors of Maximus Air and Abu Dhabi Aviation.
The decision came after careful evaluation, which indicated that current and future contracts are unlikely to cover the projected costs. This will mean that all existing operational contracts will be cancelled.
The A300 fleet will be placed in storage awaiting the market to improve and will also be available for sale or dry lease.
Maximus anticipates a number of cost cutting and restructuring actions in the months ahead.
“This was not a decision taken lightly,” Fathi Buhazza, president and CEO of Maximus Air, said. “It was a strategic decision taken in the best interests of Maximus Air. We firmly believe that transparency is key in such times and reflects the integrity of the company. It is difficult to let go of employees, especially when they have been an asset to Maximus Air. Nonetheless, we are confident that they will be an asset to another employer.”
Buhazza said other sectors of the airline’s offerings continued to perform well.
“Our charter service, and in particular our Ukrainian fleet, continue to perform well and deliver good financial results,” he said. “By focusing on our ad hoc business and on our core offerings – safety, reliability and customer service – we will be in the position to ensure prosperity for the airline in the years ahead.”