Abu Dhabi Aviation buys cargo carrier

Abu Dhabi Aviation has acquired a 95% stake in Maximus Air Cargo but the cargo carrier will maintain its commercial independence, its president and chief executive said.

“Maximus will retain its brand, operational independence and management structure, and the change will allow the company to pursue its route to increased efficiency and profitability and ensure corporate growth,” said Fathi Hilal Buhazza.

Maximus has reported encouraging growth during the first nine months of 2008 and flew 278 million freight-ton kilometres so far this year – a 401% increase on 2007.

Source: Routes News